The Capital One Quicksilver credit limit depends on your income, creditworthiness and payment history. According to anecdotal reports, the card’s credit limit can be as low as $750 and as high as $10,000. However, Capital One does not list a minimum or maximum credit limit in the card’s terms and conditions.
If you want to aim for a higher credit limit, there are a number of areas you should focus on improving.
Biggest Factors Affecting Capital One Quicksilver Credit Limits
Your payment history. If you’ve consistently paid your bills on time, creditors will view you as more trustworthy and will be more likely to extend you higher credit lines.
Income and assets vs. existing debt. The more money you have available for bill payments, the more comfortable a lender will feel.
Rent or mortgage payments. If these payments take up too much of your monthly income, you’ll have less to spend on credit card bills.
You need at least good credit to get approved. The better your credit is, the higher you can expect your spending limit to be.
Mine actually started out at a $300 credit limit for the Capital One Quicksilver card while I was in the rebuilding credit phase (almost 600 credit score). Then went to $500 after 5-on time payments and then to $750 after about 12-months. So it really depends on where your credit is. If you have “good credit” then it probably starts at $1000, as they said above. However, if you have no credit, bad credit, or just rebuilding it, then you could start at a lower amount-as I did.
You can request a Capital One Quicksilver credit limit increase either online or by phone. When making a request, you’ll need to provide Capital One your total annual income, employment status and monthly mortgage or rent payment. So, make sure to have that information ready before submitting your request for a higher chance of approval.… read full answer
Keep in mind that new accounts opened within the past several months are generally considered ineligible. Capital One also recommends a history of on-time payments above the minimum amount due with all creditors. Anyone who has received a credit line increase or decrease on their Capital One Quicksilver in the past several months is usually not eligible.
Here’s how to get a Capital One Quicksilver credit limit increase online:
Log in to your Capital One online account home page.
Click the "Services" tab.
Click the "Request Credit Line Increase" link.
On the request form, enter your total annual income, employment status, monthly housing payment, and maximum desired credit limit.
To request an increase by phone, call Capital One customer service at the number on the back of the card. From the automated phone system, choose "More Options" to hear the credit increase option. You will need to provide the same information as you would for an online request.
Here’s what happens after you submit the Capital One Quicksilver credit limit increase request:
Asking for a Capital One Quicksilver credit limit increase will not affect your credit score, as Capital One uses a soft pull for all credit limit inquiries. Moreover, after you’ve submitted your request, Capital One generally provides a decision immediately. But if they need to review further information, it may take up to 30 days to receive a decision. If you’re approved, your new credit line will be available immediately.
If you’re denied a credit limit increase, Capital One allows you to submit another request any time you like, but your odds of approval are better if you wait six months. Capital One Quicksilver also offers the possibility of automatic credit limit increases for select customers. But there’s no guarantee when, or if, one will occur.
You may be eligible for a credit limit increase without asking after 6-12 consecutive months of on-time bill payments with a new credit card account. Credit card companies need evidence that you can handle your current spending limit responsibly before giving you the ability to borrow more.
Creditors will review your credit, income and payment history on a regular basis moving forward. If they feel you can afford an increase and refrain from abusing the added spending power, they may automatically grant a credit limit increase without you asking.… read full answer
If you get a credit limit increase without asking, it should help your credit score. To start off, issuers only use a soft inquiry (which does not affect your credit score) for this type of increase. If you ask them for an increase instead, they’re more likely to use a hard inquiry, which can cause a temporary drop in your score. In addition, getting any kind of credit limit increase adds to the total credit you have available, which can lower your credit utilization if you spend the same amount of money (or less) than you did before. Or, it can allow you to spend more without increasing your utilization.
If you want to increase the chances of a credit card company giving you a higher limit without you having to ask for it, there are a few steps you can take.
How to get a credit limit increase without asking:
Always pay all your bills on time.
Pay off the card you want the higher limit on fully each month.
Update your income on the credit card company’s website/app.
Keep your account open for at least 6-12 months.
These steps won’t guarantee you a credit card limit increase without asking. But they will certainly help your chances.
If your credit card’s issuer doesn’t grant you an unsolicited increase, you may want to just ask for an increase yourself. While your request will probably lead to a lower credit score, the damage will be small and temporary. And in the long term, a limit increase has the potential to bring your score higher.
There is no general starting credit limit for Capital One credit cards. Your credit limit will be based on your creditworthiness once your application has been approved.
When determining credit limits, factors such as your debt-to-income ratio, repayment history and the length of your credit history will play a significant role. Unfortunately, there's no surefire way of knowing your credit limit before applying and getting approved for a Capital One credit card.… read full answer
How to get a higher Capital One credit card credit limit:
If you're not happy with the limit you have received, you can apply for an increase online once you've made payments on time for several months. Capital One uses soft pulls for these credit inquiries, so requesting a credit limit increase won't affect your credit score.
I have the Quicksilver $7,750 credit line, was trying to get max of $10,000. When I asked for an increase, i was denied because I wasn't using my available credit…I'm like wow!
So I applied for the SAVOR Card, got approved for $10,000, which is a World Elite Mastercard. Howbeit, once I spend a few hundred on the SAVOR Card, Capital One upgraded my Quicksilver card to World Mastercard…Go figure! Was hoping they bump my limit to the $10,000; perhaps if I make high charges, they'll give it…
I've had a secured capital 1 card for a year and I applied for the rewards card and my starting limit is $300. As you make payments before the due date, you will get increases in your limit. Capital 1 has been a great company to work with.
Mine started at $3000 and I just asked for a credit increase to $6000 and got it.
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