Why was my Capital One Secured credit limit increased?

Your Capital One Platinum Secured credit limit was most likely increased because the issuer, Capital One in this case, has greater confidence in your ability to manage the account responsibly.

Credit card companies regularly evaluate customer accounts to determine if their terms merit changes. This includes the credit line. Furthermore, such an increase does not necessitate a hard credit inquiry, as is often the case when a consumer requests a higher limit instead.

However, it’s important to note that just because you have more spending power available does not mean you should use it. The increase is not an indication of the issuer believing you can afford to spend the full amount each month, but rather than you can be trusted with the responsibility in emergency situations. What’s more, maintaining your existing spending habits with the higher limit will improve your credit utilization ratio​​​​​​​.