Capital One Quicksilver Credit Limit Increase (Proven Strategy)
How to Get a Credit Limit Increase with Capital One
It’s no secret that getting a credit limit increase with the Capital One Quicksilver Cash Rewards Credit Card can be challenging. Fortunately for you, in this article, we will cover a proven strategy that will increase your chances of being approved!
Following this same strategy resulted in me gaining a credit limit increase of $4,000 on my Capital One Quicksilver Rewards Credit Card. It’s time for you to potentially do the same.
Learn more about Quicksilver Rewards Card HERE
Note: the tips in this article assume you do not have a Quicksilver Secured Credit Card. If you do have this credit card, you are automatically considered for higher credit lines around 6 months after opening your account.
Keep reading below or check out our video explanation Here.
If you’re new to the Quicksilver Credit Card, check out our honest review.
Eligibility
You are considered ‘eligible’ for a credit limit increase from Capital One if you meet the below criteria:
- You have not received a credit limit increase on this card in the last 6 months
- No missed payments or late payments in the last 12 months
- Your account is older than 2-3 months
- You do not have Quicksilver Secured Credit Card
Credit Limit Request Process
The entire process for requesting your credit limit increase only takes around 30 seconds. To submit your request, you can either call the number on the back of your credit or use the Capital One mobile app or web app. The request itself consists of a brief questionnaire asking your total annual income, your employment status, your occupation, your monthly rent/mortgage spend, and your estimated monthly spend with credit cards.
After submitting, you will receive a response from Capital One instantaneously or in a few business days. Aside from this manual review process, Capital One also does automatic credit limit increases every 6-12 months.
Note: if you are rejected you can continue to apply as often as you’d like. There will be ‘soft pulls’ to your account meaning there is NO effect on your credit score.
4 Tips to Get Capital One Quicksilver Credit Limit Increase Approved
If you are consistently being rejected for a credit limit increase with Capital One, try following these 4 tips for success:
- Use the card more**
- Update your salary information on your Capital One account
- Request credit limit increases on other credit cards in your wallet
- Request an increase after a big month of spending with the Quicksilver card
1. Use Quicksilver Credit Card More Often
If your Quicksilver card is simply collecting dust in your wallet or purse, why would Capital One want to offer you a higher credit limit? While some credit card companies hand out credit limit increases with ease – Capital One focuses on rewarding its core users who are loyal to its credit cards. For this reason, we suggest using Capital One Quicksilver as your go-to credit card for a few months to increase your chances of a limit increase.
**Make sure you are financially responsible and avoid credit card debt at all costs
2. Update Your Capital One Account Profile
One benefit of the Quicksilver card is the “automatic” credit limit increases that can occur every 6 to 12 months. These occurrences are due to improvements in your credit score or positive changes in your finances (ex: Salary increase)
As such, to greatly increase your chances of being selected, you should ensure your Capital One Account is up-to-date with your latest salary information.
3. Increase Other Credit Card Limits
When Capital One receives your credit limit increase request, the reviewers have visibility to your credit reports. For this reason, if you have other credit cards in your rotation with much higher credit limits than the Quicksilver card, you have a greater likelihood of receiving an increase.
If the credit limits are low on your other cards, then you can also attempt to increase those amounts before reaching out to Capital One.
4. Credit Limit Request Timing
Some cardholders have reported successfully receiving credit limit increases by requesting after a large spending month. Of course, you must ensure that your credit card bill is paid on time.
Recap
While there is no guarantee for an increased credit limit with Capital One, these tips will greatly increase your chances for approval.
Learn more about Quicksilver Rewards Card HERE
Not interested in this card? Check out our review of the SoFi Checking and Savings Account – one of the most popular online bank accounts available today.
Feasible Creative is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to Capital One benefits and offers. Enrollment may be required for select Capital One benefits and offers. Visit capitalone.com to learn more. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post.
