What is the starting credit limit for a Capital One credit card?

You can get a credit increase with Capital One online or over the phone: (800) 955-7070. To be eligible for a Capital One credit-line increase, you must have an unsecured credit card, your account must be at least 3 months old, and you can’t have had a credit increase or decrease within the last 6 months. The odds of success are best when you pay your bill on time for at least 12 consecutive months prior to asking for a higher limit. It’s also important to note that once your account has been open for 5 months (and you’ve made all your payments on time), you may become eligible for an automatic credit-limit increase. Capital One will start periodically reviewing your account for that purpose once you’re eligible.… read full answer

To request a Capital One credit line increase online, log into your account, click on the “Card Services” tab, and select “Request Credit Line Increase.” Then fill out the form with your income, employment status and rent or mortgage payment, and click “Submit.” To request an increase over the phone, call (800) 955-7070 and choose “More Options,” then “Credit Increase,” and give your information. You may be asked additional questions when requesting over the phone, so have your information ready.

You should receive a decision in your inbox within 3-5 business days, if you’ve opted-in for paperless statements. Otherwise, you’ll receive a letter in the mail 7-10 business days after submitting your request. You cannot ask for a specific credit amount when requesting an increase. If you’re approved, you’ll receive the highest limit possible based on the information you provided.

If you’re declined for a Capital One credit increase, you can request another at any time. However, it’s recommended that you wait at least 6 months. An exception would be if your financial situation improves, like receiving a raise. Any time your income goes up is an appropriate time to request a credit increase, assuming your debt doesn’t go up too.

The highest credit card limit is over $100,000 according to anecdotes from credit card holders. But like most credit cards in general, even the highest-limit credit cards will only list minimum spending limits in their terms – and the highest minimum you’ll find is around $10,000.

In order to get $100,000+ in spending power, you need a lot of assets and income, little debt, and a spotless credit history. Let’s look at some of the most popular offers with high floors and, hopefully, even higher ceilings so you can see for yourself.… read full answer

Here are some of the highest credit card limits right now:

• Chase Sapphire Reserve®: $10,000+

  You’re guaranteed a credit limit of at least $10,000 with this card, but it comes with a $550 annual fee and requires excellent credit. If you’re a high spender, though, the points you’ll rack up can be well worth it.

• Chase Sapphire Preferred® Card: $5,000+

  You’ll get at least a $5,000 credit limit with this card, and some people report a high limit of $100,000. This card requires good credit and the annual fee is $95.

• Wells Fargo Platinum card: $1,000 minimum

  This card’s minimum credit line is $1,000. It requires good credit and comes with a $0 annual fee.

• The Platinum Card® from American Express: No Pre-Set Spending Limit

  American Express Platinum card has no pre-set spending limit, which means your limit is flexible, will depend on your monthly spending habits and could change from month to month. The annual fee is $550, and you need good credit or better to get approved.

• American Express® Gold Card: No Pre-Set Spending Limit

  This is another NPSL card, meaning your credit limit on this card will adapt to how you use it. Amex Gold card requires at least good credit and charges an annual fee of $250.

• Discover it® Student Cash Back: $500+

  Students can look forward to a limit of at least $500. That’s pretty good for a first card when you have limited credit. The annual fee is $0.

Again, keep in mind that most credit cards only disclose minimum credit limits, if that. So, your limit could be a lot higher based on your creditworthiness.

In order to have a better chance of getting the highest credit card limit possible in your situation, you should make sure to always pay bills on time, use 30% or less of your available credit, pay down your debts, save money for the future, and otherwise make good financial decisions.

No, you cannot overdraft a Capital One credit card. Overdrafts do not apply to credit cards. Credit card issuers generally use the term "over limit" when referring to spending more than your credit limit.

You may be able to go over the limit of a Capital One credit card, but it is up to Capital One whether any particular charge that exceeds your credit limit is approved. Capital One used to have a policy whereby people could opt in to exceed their credit limit. They were charged … read full answera fee for each over-limit purchase, which couldn't exceed the amount by which they went over. This policy has since been terminated. Instead, Capital One will assess transactions that put balances over the limit and approve or deny them on an individual basis. There is no fixed amount that you can go over your limit and each transaction is approved individually. So there is no guarantee that you will always be approved to exceed your credit limit.

Approval of transactions that put your balance over your credit limit is based on Capital One's eligibility criteria which aren't disclosed publicly. In some cases, Capital One may decline a transaction that causes you to go over your limit, due to factors such as late payments and having recently opened your account. Capital One no longer charges any fees for over limit purchases, though. So if you make a purchase that goes over and it happens to still get processed, you won't be penalized.