What's in your wallet? Chances are that you've heard that question in many commercials, and it happens to be Capital One's tagline. Founded in 1994, Capital One is a financial company that offers products like auto loans and banking. However, Capital One's most well-known products are its credit cards which are convenient in building credit. What if you receive your Capital One credit card and want to know how you can raise your credit limit? Read on to learn how.
The credit limit of any credit card is largely dependent on your income and housing costs reported during your initial application. Credit limit increases happen in one of three ways. You show you are a responsible card holder and Capital One automatically raises your credit limit. You can also call Capital One customer service to see if you're eligible for an increase, or you can apply for it online. You will need to provide your employment status, annual income and your monthly mortgage or rent payment during your credit increase request.
Please, keep in mind that it might take a few days for Capital One to review your account for a credit increase, while other times credit increases are approved instantly. Capital One also approves the largest increase available, but you can choose a lower amount if that better suits your needs.
Many customers often receive a credit limit increase as soon as six months after opening their accounts if they made their payments on-time. It's also recommended that you make more than the minimum monthly payment for large purchases and don't request a credit limit increase too often or too soon after opening the account. Once or twice a year is viewed as ideal, however more often isn't always better. These tips can help you with either the automatic increase or by showing the company how responsible you are as a borrower when you contact them.
You can request the increase by calling Capital One customer service agents or by logging into your account online or via the app by going to your Account and Feature Settings. Please note that if you don't see this option, then you're not eligible to apply for an increase yet.
After thousands of Capital One customers came to GetHuman in search of an answer to this problem (and many others), we decided it was time to publish instructions. So we put together How Do I Increase My Credit Limit on My Capital One Card? to try to help. It takes time to get through these steps according to other users, including time spent working through each step and contacting Capital One if necessary. Best of luck and please let us know if you successfully resolve your issue with guidance from this page.
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