Capital One does not have one general credit limit for all its credit cards, but some Capital One cards list a minimum credit limit in their terms. The minimum credit limits for Capital One QuicksilverOne, Platinum, Journey Student, Cabela’s CLUB, Bass Pro Shops CLUB, and Walmart Rewards are all listed as $300.
On the other hand, Capital One Venture, VentureOne, Quicksilver, Savor, and SavorOne do not list a minimum credit line in their terms. And all Capital One credit limits ultimately depend on your annual income and overall creditworthiness, so it’s hard to say what anyone’s limit will be without knowing those things first.
The starting credit limit for a Capital One credit card is determined based on your credit history and disposable income, and there's really no way to know the credit limit before submitting an application. There are at least two cards in the Capital One portfolio that offer some degree of predictability in terms of your credit limit, but credit history and income still play an important role in those cases:
-The Capital One Platinum offers a credit limit of at least $300.
-The Capital One Secured generally offers a limit equal to your security deposit (it's partially secured so your deposit could be as low as $49 while your spending limit starts at $200).
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:
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.
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.
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.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.