Capital One Platinum cardholders are generally eligible for credit limit increases after six months of on-time payments, but that doesn’t mean you will necessarily be granted one.
Your best bet would be to call customer service and ask. For more information, you can check on credit limit increase options in the materials mailed with your credit card or read our article on How to Get a Higher Credit Limit.
You can request a Capital One Platinum credit increase online from the Capital One website. Or, call customer service at 1 (800) 955-7070 to see if you’re eligible. For online requests, log in to your account from the Capital One credit limit increase page. Follow the directions on the page, and be sure to include your desired credit limit, then click “Submit.” If you’re requesting a Capital One Platinum credit limit increase by phone, you’ll be directed through an automated system.
Anyone with a Capital One Platinum Mastercard may qualify for an automatic credit limit increase after the first 5 on-time monthly payments. However, there’s no guarantee when, or if, it will occur. Neither automatic nor requested credit limit increases lead to a hard credit pull with Cap 1 Platinum, so they do not affect your credit score.
If you’re approved for a Capital One Platinum credit increase, the new credit limit will be available immediately. If your credit limit increase request is denied, you’ll be eligible to submit another request after six months.
Automatic credit limit increase to $500 after making your first 5 monthly payments on time is for card holders that are on the capital one credit steps program. You will know if you are in the program by logging into your capital one account on PC or mobile and it will show your progress directly under the statements portion of the dashboard.
You can request a credit increase with Capital One online or over the phone: 1-800-955-7070. 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 1-800-955-7070 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 Capital One Platinum credit limit is $300 or more, depending on your creditworthiness. So as long as you’re approved for the card, you’re guaranteed at least a $300 spending limit. But if your credit score and income exceed what Capital One is looking for, you could definitely start off with a higher limit. Some users have reported Capital One Platinum credit limits of $500 to $1,500 to start.… read full answer
Keep in mind that you aren’t stuck with your starting Capital One Platinum credit limit forever. Capital One may increase your limit if you make your first 5 payments on time. You can also request an increase yourself. Many users report their limits increasing over time.
Capital One Platinum credit limit details:
You’re guaranteed a credit limit of at least $300 if you’re approved for Capital One Platinum.
Capital One Platinum only requires limited credit for approval. If you have good credit or a lot of income relative to your debt, you’ll likely start with a higher limit. Some users report getting $500-$1,500 initially.
Capital One may increase your credit limit after you make your first 5 monthly payments on time. After the first 5 months, they will review your account periodically to see if you deserve a higher limit. Pay more than the minimum each month, if possible, to boost your chances.
You can request a credit limit increase yourself by calling customer service at 1 (800) 227-4825. You can also log into your Capital One account. Just choose “Request Credit Line Increase” from the “Services” tab. You’ll have to provide information about your income and employment for Capital One to make their decision.
So you’ll get $300+ from Capital One Platinum to start. If you use your card responsibly, you’ll provide yourself with opportunities to increase your limit. But it’s best not to ask for an increase before five months of on-time payments, as you’ll probably be denied. If you do request an increase, Capital One may generate a hard inquiry, or “hard pull,” of your credit report. This will cause a slight drop in your credit score. That’s pretty standard.
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