How long will it take to raise my credit limit from $500 to at least $2000 with Capital One?

Question

I like their Rewards program, but $500 to start? I'll have to pay my credit card every week.

Also, I don't want to be out on a date, use the card, only to have it rejected.

When will my limit go up?

Answer 1

Hello - I have a credit card from Capital One with a similar situation. I had limited credit history and was given a $500 limit. Id say it was 1 yr from opening the card that Cap One raised my credit limit to 2k without my even asking. You can request a credit increase from them, but the recording will tell you that you cannot request an increase - they do their own reviews of accounts and increase the limits at their choosing. So continue to make payments on time and try to pay the entire balance and you will receive the increase.

Answer 2

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RE:
How long will it take to raise my credit limit from $500 to at least $2000 with Capital One?
I like their Rewards program, but $500 to start? I'll have to pay my credit card every week.

Also, I don't want to be out on a date, use the card, only to have it rejected.

When will my limit go up?

Answer 3

Well, it sounds like you have the same or a similar card that I have, and regardless Capital One has an program called Credit Steps that all new card holders are eligible for. In the program, once you make your first three payments on time they will automatically raise your credit limit by $200 or $250 by the 5th statement.(you should get a letter about it) If you keep your payments on time with them, I would say you are looking at about 18 months to 2 years until you get a $2000 limit. More than likely, the card that you have has a $3000 max period, so they will be quite stingy with raising your limit.

Answer 4

500 Credit Card

Answer 5

They gave you the 500 dollars to play with because they want to see if you can handle it. Your credit must be sub-prime, meaning that you are going to have to handle this account VERY well before they will even consider raising it by a penny. Never miss a payment, and don't charge it up to its limit. Stay under a 250.00 balance and you should get a good limit within 1 year. Capital One was my first credit card with a 500 dollar limit, and now 2 years later my limit with them is 13,500 dollars. Handle your account well and you can say the same two years down the road. Good Luck!

Answer 6

I got a cap one card with 500.00 limit after 5 months was raised it to 2k then after 1 yr was raised to 3500. the secret is to pat on time, only use 20 percent and pay in full.

Answer 7

There must be some reason Capitol One only gave you such a low limit. Your best bet to increase that limit is to use the card and pay it in full every month. After about 6 months, they will start increasing the limit.

Of course, it could be they want to limit the rewards progam. Maybe you should look into some other reward card.

Answer 8

Good luck. Capital One is notoriously slow to raise anyone's credit limit especially if they have sketchy or bad credit in their past.

Answer 9

You can call and ask for it immediately or use your online account to request an increase. They might deny it, but it won’t hurt you to ask.

With a different company, I found that after I requested one increase, they would atomatically up my limit every time I paid off the entire balance. Over two years, they increased my limit 7 fold.

Answer 10

CapitalOne doesn't like to give credit increases....They prefer to issue you more low -limit ($500) cards instead....that way if you're late, they can charge you a late fee twice.....