How Often Does Capital One Increase Your Credit Limit?

When it comes to credit limits, one of the most common questions from customers is how often their credit limit will be increased by Capital One. Typically, Capital One reviews accounts for credit limit increases every six months, but this timeframe can vary depending on several factors such as individual account activity, payment history, and overall creditworthiness. If you consistently make on-time payments and maintain a low credit utilization ratio, you might be eligible for an increase sooner. Moreover, you can request a credit limit increase through your online account or mobile app, which might prompt a review.

Historical Context and Current Practices

Back about 10 years ago, Capital One used to automatically review and increase credit limits every 12 to 24 months without prompting customers. Since then, the practices have evolved, and customers can now request an increase more frequently. I have personally requested increases a few times in recent years and received increments that were usually not more than 50% above my current limit, a practice that is common with other financial institutions as well.

The one exception I encountered was with Wells Fargo, where I opened a new credit card with a 18-month 0% interest introductory offer and a very low limit for me. After using the card for a few days and paying off a significant portion of the balance, I called and requested that the limit be doubled, which was done immediately. Now, three months later, as I have been using this card regularly, I am considering another increase of 50 points. Interestingly, the money I did not use to pay down the card is going into a high-interest savings account where I earn a bit of extra 'lunch money'.

Requesting Credit Limit Increases

You can request a credit limit increase at least once a year, assuming you use the card and always pay on time. If your credit is in good shape, they are likely to approve you. Some customers ask for an increase every six months and in some cases, have been granted. It is worth noting that while you can ask for a manual increase every week if you wish, such requests will always be a soft pull and will not negatively impact your credit score. However, Capital One will only approve a credit limit increase once every six months.

Additionally, keep in mind that Capital One typically only allows you to own two of their credit cards at any one time. This policy does not include co-branded cards or cards issued by other companies but managed by Capital One.

Conclusion: The frequency of credit limit increases by Capital One is not fixed and varies based on the customer's account activity, payment history, and creditworthiness. While customers can request an increase weekly, it will only be approved once every six months, and maintaining a good payment record is key.