What is the Capital One Platinum Secured credit limit?

There are two ways to increase your Capital One secured card's credit limit: deposit more money than required when you open the account or pay your bill on time and hope you get an automatic credit limit increase. If you make on-time payments for the first six months, you will be considered for a higher credit limit on your Capital One secured card.... read full answer

Ways to Increase Your Capital One Secured Card Limit

• Over-deposit before getting your card
  

  If you get approved, Capital One will require you to place a security deposit of $49, $99 or $200 to actually open your account. The deposit amount you’re assigned depends on your overall credit standing, but everyone starts with a $200 credit limit – unless you deposit more than is required, that is.

  
  

  Any amount you deposit above what’s required will boost your spending limit by the same amount. For example, if you’re required to place a $49 deposit and you put down $149, your credit limit will be $300 instead of $200.

• Pay on time for 6+ months
  

  After account opening, the only way to get a Capital One secured card credit limit increase is to pay on time for 6 months. If you do, Capital One will likely raise your credit limit during the 7^th month. By how much, though, is completely up to them. If you pay on time but other aspects of your credit get worse, you might not get an increase.

  
  

  It’s also possible that Capital One will eventually return your deposit and transition you to an unsecured credit card with a higher credit limit. But that depends on how financially responsible you are.

Final Take

Different secured cards have different rules regarding security deposits and spending limit increases. You can usually increase your limit by depositing more money, often at any time. But you generally can’t just call and ask for more spending power without giving the credit card company something in return.

The only absolute chance you have to get yourself more credit is at the very start when you send in extra money on top of your deposit. Otherwise, you’ll have to speak with your actions by paying on time until Capital One raises the limit themselves.

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.

You cannot ask for a Capital One secured to unsecured graduation, but graduation is definitely possible. The first option when it comes to graduating is the Capital One Platinum, which is a reasonable no-annual fee credit card.

So hang in there, and keep making those payments!