Wednesday, October 28th, 2009

Why won’t Capital One give me a credit limit raise?

Carl asked:


I’ve had my Capital One Card in good standing for about 2 and a half years. Never went over my limit, always paid my bill on time(usually a couple weeks early) and now that I haven’t gottena letter in the mail saying they raised my credit, I requested a raise. Sure enough they turned me down and I call them and an Indian lady tells me I am not eligible but won’t give me an explanation. Any idea why?

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This entry was posted on Wednesday, October 28th, 2009 at 12:00 am and is filed under Credit Limits. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Why won’t Capital One give me a credit limit raise?”

JamesW Says:
October 30th, 2009 at 9:34 am

It’s normally based on your FICO. If your debt ratio is high then you are considered a risk thus the denial of a raise in limits. You probably are lucky they haven’t lowered your limit. That is the norm for todays economy. Beside, pay with cash and quit giving money (finance charges) to the banks.

My Take on It Says:
October 31st, 2009 at 12:08 pm

There could be a million reasons.
Has your income changed? Do you now make more? How close to your limit are you on your Cap1 card? Do you have a lot of other debt? What is your FICO?

They really should have given you at least a written explanation. That’s odd.

cmcav@yahoo.com Says:
November 1st, 2009 at 4:43 am

Capitol One is notorious for having low credit limits. A few years ago their business model was to let the consumer have numerous cards with low limits. Find out your FICO number and apply at a different credit card company.

Doctor Deth Says:
November 2nd, 2009 at 12:27 pm

you are lucky they haven’t LOWERED your limit - they are doing that to a lot of people including people that pay on time every month - they are trying to minimize their risk in light of the banking industry mess of teh last year - lots of banks have totally gone under

why do you want to incur more debt?

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