Upgrading from the Capital One Platinum card to Venture is a long shot, considering that Platinum is regarded as a starter credit card. But if you are a decent cardholder they might do it, because they want you to use the card more and want you to stay with the company.
Platinum cardholders usually get upgrade offers to Quicksilver, which is a great mid-tier card, especially considering the lack of rewards on the Platinum card. In the end it really depends on your payment history and how long you've responsibly used your card for. Simply give them a call and ask. Good luck!
Cardholders can upgrade Capital One Platinum to Venture through an online or mail offer directly from Capital One. If no offer is available, call customer service at 1 (800) 227-4825 or go online to check if you’re eligible. A banner will appear listing any available upgrade options. Platinum accounts that are at least six months old with a clean payment history and low credit utilization are more likely to be approved for an upgrade.
There is no predefined number of Capital One cards you can have at a time. More specifically, you can have as many Capital One credit cards as your credit would allow. Approval would be based on your credit history, your income and any potential debt you might have.
Both cards come with a good signup bonus: Capital One Savor comes with $300 for spending $3,000 in the first 3 months. With Capital One Venture, you earn 60,000 miles for spending $3,000 in the first 3 months. Capital One Savor has an annual fee of $95, and Capital One Venture’s annual fee is $95.
The Capital One Platinum credit limit is $300 or more, depending on your creditworthiness. So, you’re guaranteed at least a $300 spending limit if you’re approved for the card, and if your credit score and income exceed what Capital One is looking for, you could definitely start off with a higher limit.… 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 6 payments on time. You can also request an increase yourself. Many users report their limits increasing over time.
Here are some 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 accepts applicants with limited. If you have good credit or a lot of income relative to your debt, you’ll likely start with a higher limit.
Capital One may increase your credit limit after you make your first 6 monthly payments on time. After the first 6 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 (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 six 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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