"Approved - Lower Then Expected CL"

Capital One® Platinum Prestige Credit Card Review
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Written by: porgy1000 on 2008-02-17

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porgy1000's review: I never had a Capital One card but after seeing how customer friendly they are on here I decided to apply. I was approved for this card with a $15,000 credit line. Compared to other banks the credit line is kind of low based on my FICO scores and income.

This will be my last card. I always say that but now I have 16 bank cards, enough is enough. I added 3 cards in 6 weeks after reading what others said about various banks and how they treat people.

Meya this is all YOUR FAULT hehehehehehehe


Comment 1 by markrivers
Congrats! on 2008-02-17

Congratulations on your new card...

i'm not sure if I counted the ZEROs right, but you said lower than expected credit limit..

based on your post it's 15,000 or was it 1,500?

as for me...$15,000 is so huge!

innocent question here... How BIG is a BIG credit limit for average Americans??

( I've been living in Vancouver, CAnada for the past 26 yrs, and I recently moved in here for work since 2006)
Comment 2 by arod
Congrats on 2008-02-17

I love capital One...

This card is awesome. Enjoy your new card. And credit limit.

Take care.

Comment 3 by porgy1000
Credit Line on 2008-02-17

From what I know your credit lines are based on your other open accounts. My 4 Bank of America credit cards range in credit lines from $22,800 to $50,000. One of my AX cards is $75,000. My chase and my Citibank cards have credit lines of $25,000 to $45,000. I have 2 small credit line cards for face to face purchases (which I have out of choice)

Therefore when Capital One gave me a $15,000 credit line I felt it was low based on my other credit lines from other banks.

Again, I know they take FICO score and income into play along with probability of future employment. From what I know about credit I felt that $15,000 was a low intital credit line for me. My Fico scores are all over 800. The only thing I can think of is that banks are becoming more frugal in a credit crunch.
Comment 4 by hjm331
RE: Porgy on 2008-02-17

Porgy, Capital One is a subprime bank. They can't give you a limit as high as your other cards. If they did, then there would be no money for the people that are building/rebuilding their credit. If you are looking for a higher limit card, go elsewhere to a top tier bank. As for CS goes, call the backdoor number I posted in the last comment and you will see the difference.
Comment 5 by adicus
Forgot One. on 2008-02-17


Don't forget about your HOOTER'S card!

$9,500 can buy whole lotta wings & beer.
Comment 6 by hjm331
RE: Adicus on 2008-02-17

Haha, you're right. It can buy you a lot of stuff. I ate some of their wings 3 weeks ago but I didn't pay with a Hooters card. I paid with my BofA Visa card and I still turned heads ;)
Comment 7 by chrispa
Capital One Is Cool on 2008-02-17

I have 8 cards total and thought that was enough. But anyway good luck with cap 1.

Comment 8 by porgy1000
Your Right on 2008-02-17

Well hjm you are correct. I called the backdoor number listed in the forum and she raised my credit line to $25,000. I also asked her about the "subprime bank issue" I was advised that Capital One issues BOTH subprime and prime cards. The card I was issued was a prime card (minimum FICO of 755).

As far as my 16 cards all of them are in my underwear draw now LOL. I am waiting for a mortgage to close so I do not use any of them. I am using my debit cards for now to keep all my balances at zero for a lower rate on a mortgage.
Comment 9 by hjm331
RE: Porgy on 2008-02-17

Congrats on the new CLI. I wish I get myself one on my Cap1 cards. I need to lower my utilization.
Comment 10 by porgy1000
16 Cards on 2008-02-17

Well I thought I was bad. I was watching the Suze Orman show tonight and a women called in and she has 48 bank cards. Suze Orman said it does NOT matter that she has 48 cards just so long as they do not bring her FICO score down the amount of cards you have out does not matter.

However, when I pull my own credit reports they always say on them TOO MUCH AVAILABLE credit will scare lenders off. I have never been turned down for any type of credit though, nor have I had any adverse actions taken on any of my interest rates. I guess Suze Orman is right.
Comment 11 by meya
You Go Porgy on 2008-02-17

Get out of here, heheheh you are in the Cap1 fam now. Its my fault... Lol... Oh lord help him. You kne you wanted one all along, tell the truth! I am happy for you and you went through the back door to receive more, maaan I cant wait until this dispute is over with, I may bust the back door down from running so fast.

Whew, now we can hear less stories about the Cap1 fever! Lol, I put the blame on hjm331, he is the one throwing eveyone on the cap1 one cards and having everyone knowcking on back doors. As a matter of fact, it was hjm331 that forced you to hit "The Love Button" hugh! I knew it, I knew it.
Comment 12 by porgy1000
Capital One on 2008-02-17

When I called the backdoor number for capital one she said to me which card are you calling about? Is this your primary card?

I told her this is my only card with capital one. She said "oh that will change" Just how many cards do they give to you????? I am not sure it is good business practice for a bank to give out so many cards. I guess that's how they earn their money. Fees upon fees upon fees.
Comment 13 by adicus
Called CapitalOne Backline. on 2008-02-18

Called the backline number and I was granted an additional $500. Now I have a $1k. Not bad at all.
Comment 14 by hjm331
Congrats To Adicus! on 2008-02-18

Congrats on the new CLI man! Capital One is a good card, I just hate it when people call it Crap1 because they do not realize how hard it is to get approved for a credit card nowadays and they take Capital One's service for granted.
Comment 15 by thomas1
Lower Than Expected Cl on 2008-04-09

I worked in the credit department for Citi for several years. initial cl of 15K may have been based on several accounts with large credit lines. Banks look at high lines and may not grant another large line due to possible future default risk. As history increases, the nervousness lessens
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