If you’re a Capital One credit cardholder, you may be wondering how you can go about increasing your credit limit. A higher credit limit indicates to creditors that you’re a responsible borrower, which can lead to lower interest rates on future loans.
After all, a higher credit limit can give you some much-needed financial breathing room in the event of an emergency. Luckily, there are a few different ways to go about it. Let’s take a look at a few of the most effective methods.
Request an increase Online
The easiest way to request a credit limit increase is through Capital One’s website or mobile app. After logging in, go to the “Account Services” tab and select “Request a credit limit increase.” Capital One will then run a soft pull of your credit report—which won’t impact your score—to review your account history and current financial situation. If you’re approved, you’ll receive an email letting you know what your new credit limit is.
Call Customer Service
If you’d rather not request an increase online, you can always call Capital One’s customer service number at 1-800-227-4825. When prompted, say “creditLimit” or “credit line,” and then say “yes” when asked if you’re calling about an existing account. From there, follow the prompts until you’re connected to a customer service representative who can help you with your request.
Send a Secure Message in the Mobile App
You can also send Capital One a secure message through the mobile app to request a credit limit increase. After logging in, tap on the three dots in the top-right corner of the screen and select “Contact Us.” Then, choose “Send Us A Message” and select “Credit Limit Increase” from the list of available topics. Follow the prompts to send your message—you should receive a response within one business day.
If you have a history of making on-time payments and maintaining a good credit score, you may be automatically eligible for a higher credit limit. Capital One periodically reviews accounts and raises limits for those who demonstrate responsible financial behavior. So, if you’re doing everything right, there’s a good chance your credit limit will eventually go up without you even having to ask.
Finally, some Capital One cards come with what’s known as “Credit Steps.” This program automatically increases your credit limit after you make your first five monthly payments on time. After that, you’ll get periodic reviewalss and automatic increases as long as you continue to behave responsibly. So, if you’re new to Capital One and looking to increase your credit limit, this could be a great option for you.
If you’re looking for ways to increase your Capital One credit limit, there are a few different options available to you. You can always try asking for an increase by calling customer service. Additionally, those who have demonstrated responsible financial behavior in the past may be automatically eligible for periodic limit increases. Finally, some Capital One cards come with “Credit Steps,” which is a program that automatically increases your credit limit after five monthly payments are made on time. Whichever route you decide to take, remember that increasing your credit limit can give you some valuable financial flexibility down the road.