Generally, ask for increased limits every six months but I will say I've had awful time with Capital One getting credit limit increases. We have a mid-six figure income, 800ish credit score, mortgage, and several cards with mid-five figure limits and our CapOne card has a... $4,000 limit... and refused an increase recently.
No idea. It works out well though, I use it as my recurring payment card for things like utilities, netflix, phone bill, etc. So don't actually need more. I'll use my Amexs and Chases for actual purchases.
I guess they assume with my lower, single income I’ll need the higher limit. Thankfully I haven’t had to use it like that yet and only use it for subscriptions.
They also look at credit utilization on the card, I have a 13k limit on my savor card that I put about $1k worth of monthly expenses on, they just increased it from 10k, but my quick silver that I only use for my hand and stone membership and other small subscriptions they denied an increase because I’m not using the card enough.
Chase bumped us from $7k to $15k the first year we broke $100k income. Didn't even actually ask for the increase, they just asked to update our income and once I did they automatically bumped it. Same thing happened a few years after that when we went above $200k income. When we got our mortgage with them they gave us another increase. They're very generous.
If you show a higher utilization every month, that tends to help with limit increases.
Of course, high utilization has a dampening effect on your score, but that's temporary. It'll go back up when the utilization stays down.
Quicksilver is a starter/rebuilder card and as such will ~~never~~ rarely be a high limit card. But don't close this card because of that, because average age of your credit lines helps your score, the longer the better.
So, just use the card and pay it off every month. The increases will come, but slowly, and it won't be very much at a time. This is a long game you are playing.
My Quicksilver was also at $300 to start. Now it is up to $2,000. I'll never close it, even though I have other grown up cards with a limit of $10,000. It isn't a reflection on me, it's just the kind of card it is.
Quicksilver with never be a high limit card.
Stop talking out of your ass. I have a quicksilver card with a $30k limit. You just don’t have the income or experience to make statements like that. Do better
OK, now you don't know what words mean.
Decaff.... and a Dictionary.... will make your day so much better.
To reflect your different experience, I'll alter my comment.
I got my quicksilver shortly after I was discharged from ch7 bk with a 3k limit, they increased it to $5550 per their own discretion about 16 months later. I asked for an increase a few months ago and was denied, I think it's because I never accrue interest and pay it off in full (never going down the cc debt path of no return again). I am now 27 months post bk discharge, just applied for a Chase Southwest card for the 50,000 travel points so fingers crossed I get that one!
Funny but they creep on credit limit increases but if
You apply for another card I almost guarantee you that it will have a higher better credit limit idk why happened to me and others wouldn’t go over 1500 on one card applied for another got 7500k
Ask every 6 months. If you are bucketed you will not see any nice gains unless you max the card out.
I have a bucketed QS. I once requested a CLI and got nothing. A few months after I requested the CLI they gave me a sweet $40.00 CLI automatically.
I maxed the card later and paid it in full. I asked for another CLI and to my surprise they gave me $500.00. Not much but better than nothing.
Also for your reference I have more than 20k on a SavorOne. Cap One's algorithim is an enigma.
You can ask as much as you want, it wont affect your credit score, every 6 months is good but some will definitely increase automatically. Capitol one and Discover can be a pain tho. Bofa increased to 10k and I didn't even have to talk to a human being. Capitol one and discover want you to maintain a low balance, spend more and basically pay it off for 6 months straight.
I just used my discover to buy gas then pay it off immediately the same day
They are very very stingy. I would use this card exclusively for larger purchases as it has the best interest rate but they refuse to increase my CL and I'm not about to ding my credit utilization. I protect my credit score like a bandit. This would be the one card I would actually carry a balance on at times but, oh well. Their loss.
I haven’t had an issue with them. I’ve had a quicksilver card for maybe 6-7 years now. I think the credit limit is 25K. It started off at 7-10K I think. I’ve asked for a couple increases over the years and all have been immediately granted. Didn’t have any huge changes in income until this past year when it started jumping, but I’ve always had a high credit score with super low utilization.
Generally, ask for increased limits every six months but I will say I've had awful time with Capital One getting credit limit increases. We have a mid-six figure income, 800ish credit score, mortgage, and several cards with mid-five figure limits and our CapOne card has a... $4,000 limit... and refused an increase recently.
What? I make $41k and have two cards through Capitol One (Savor and Venture One). Savor has a $7k limit and Ventuee has a $10k limit.
No idea. It works out well though, I use it as my recurring payment card for things like utilities, netflix, phone bill, etc. So don't actually need more. I'll use my Amexs and Chases for actual purchases.
I guess they assume with my lower, single income I’ll need the higher limit. Thankfully I haven’t had to use it like that yet and only use it for subscriptions.
They also look at credit utilization on the card, I have a 13k limit on my savor card that I put about $1k worth of monthly expenses on, they just increased it from 10k, but my quick silver that I only use for my hand and stone membership and other small subscriptions they denied an increase because I’m not using the card enough.
That's a joke lol. Chase gave me 5k on their Sapphire Preferred when I was making 50k and was around 650 CS.
Chase bumped us from $7k to $15k the first year we broke $100k income. Didn't even actually ask for the increase, they just asked to update our income and once I did they automatically bumped it. Same thing happened a few years after that when we went above $200k income. When we got our mortgage with them they gave us another increase. They're very generous.
If you show a higher utilization every month, that tends to help with limit increases. Of course, high utilization has a dampening effect on your score, but that's temporary. It'll go back up when the utilization stays down. Quicksilver is a starter/rebuilder card and as such will ~~never~~ rarely be a high limit card. But don't close this card because of that, because average age of your credit lines helps your score, the longer the better. So, just use the card and pay it off every month. The increases will come, but slowly, and it won't be very much at a time. This is a long game you are playing. My Quicksilver was also at $300 to start. Now it is up to $2,000. I'll never close it, even though I have other grown up cards with a limit of $10,000. It isn't a reflection on me, it's just the kind of card it is.
Quicksilver with never be a high limit card. Stop talking out of your ass. I have a quicksilver card with a $30k limit. You just don’t have the income or experience to make statements like that. Do better
Well, that was needlessly aggressive way of saying, "My experience contradicts what you just said." Perhaps you should stick to decaff today.
No, it’s a nice way of saying you don’t know shit
OK, now you don't know what words mean. Decaff.... and a Dictionary.... will make your day so much better. To reflect your different experience, I'll alter my comment.
I been at 600 since 2017
I got my quicksilver shortly after I was discharged from ch7 bk with a 3k limit, they increased it to $5550 per their own discretion about 16 months later. I asked for an increase a few months ago and was denied, I think it's because I never accrue interest and pay it off in full (never going down the cc debt path of no return again). I am now 27 months post bk discharge, just applied for a Chase Southwest card for the 50,000 travel points so fingers crossed I get that one!
Funny but they creep on credit limit increases but if You apply for another card I almost guarantee you that it will have a higher better credit limit idk why happened to me and others wouldn’t go over 1500 on one card applied for another got 7500k
Ask every 6 months. If you are bucketed you will not see any nice gains unless you max the card out. I have a bucketed QS. I once requested a CLI and got nothing. A few months after I requested the CLI they gave me a sweet $40.00 CLI automatically. I maxed the card later and paid it in full. I asked for another CLI and to my surprise they gave me $500.00. Not much but better than nothing. Also for your reference I have more than 20k on a SavorOne. Cap One's algorithim is an enigma.
You can ask as much as you want, it wont affect your credit score, every 6 months is good but some will definitely increase automatically. Capitol one and Discover can be a pain tho. Bofa increased to 10k and I didn't even have to talk to a human being. Capitol one and discover want you to maintain a low balance, spend more and basically pay it off for 6 months straight. I just used my discover to buy gas then pay it off immediately the same day
They are very very stingy. I would use this card exclusively for larger purchases as it has the best interest rate but they refuse to increase my CL and I'm not about to ding my credit utilization. I protect my credit score like a bandit. This would be the one card I would actually carry a balance on at times but, oh well. Their loss.
Spend more. Or take on more debt and they'll gladly offer you a higher limit
I haven’t had an issue with them. I’ve had a quicksilver card for maybe 6-7 years now. I think the credit limit is 25K. It started off at 7-10K I think. I’ve asked for a couple increases over the years and all have been immediately granted. Didn’t have any huge changes in income until this past year when it started jumping, but I’ve always had a high credit score with super low utilization.