There are two ways to increase your Capital One secured card's credit limit: deposit more money than required when you open the account or pay your bill on time and hope you get an automatic credit limit increase. If you make on-time payments for the first six months, you will be considered for a higher credit limit on your Capital One secured card.
Ways to Increase Your Capital One Secured Card Limit
- Over-deposit before getting your card
If you get approved, Capital One will require you to place a security deposit of $49, $99 or $200 to actually open your account. The deposit amount you’re assigned depends on your overall credit standing, but everyone starts with a $200 credit limit – unless you deposit more than is required, that is.
Any amount you deposit above what’s required will boost your spending limit by the same amount. For example, if you’re required to place a $49 deposit and you put down $149, your credit limit will be $300 instead of $200.
- Pay on time for 6+ months
After account opening, the only way to get a Capital One secured card credit limit increase is to pay on time for 6 months. If you do, Capital One will likely raise your credit limit during the 7th month. By how much, though, is completely up to them. If you pay on time but other aspects of your credit get worse, you might not get an increase.
It’s also possible that Capital One will eventually return your deposit and transition you to an unsecured credit card with a higher credit limit. But that depends on how financially responsible you are.
Final Take
Different secured cards have different rules regarding security deposits and spending limit increases. You can usually increase your limit by depositing more money, often at any time. But you generally can’t just call and ask for more spending power without giving the credit card company something in return.
The only absolute chance you have to get yourself more credit is at the very start when you send in extra money on top of your deposit. Otherwise, you’ll have to speak with your actions by paying on time until Capital One raises the limit themselves.
This answer was first published on 05/14/21 and it was last updated on 01/09/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
To increase your initial credit line, simply deposit more than your minimum required security deposit within 35 days of being approved and before you activate your card. You can raise your initial credit line by the amount of your additional deposit, up to $1,000.
Can I increase the limit on my secured credit card? ›
If you can deposit more than the minimum, you'll increase the limit on your secured credit card, giving you more flexibility in spending.
Does Capital One automatically increase credit limit? ›
Yes, credit limit increases can happen automatically if your information is kept up to date, like employment status and total annual income. Cardholders in good standing (e.g. good credit score, consistent on-time payments) may also receive an automatic credit limit increase once or twice a year.
What credit card has $5000 limit with bad credit? ›
Compare the best credit cards for bad credit
| Credit Cards | Our Ratings | Credit Limit |
|---|
| Petal® 1 No Annual Fee Visa® Credit Card* Learn More on Petal's secure site | 4.1 Winner: Unsecured | $300 to $5,000 |
| Tomo Credit Card* Learn More on Community Federal Savings Bank's secure site | 2.4 Unsecured credit card + high limit | $100 to $30,000 |
9 more rowsThe Capital One Quicksilver Cash Rewards for Good Credit will increase your credit limit no more than once every six months generally. This time frame applies whether you request a credit limit increase yourself or wait for Capital One to offer you an automatic increase.
How do I increase my Capital One Secured limit? ›
After account opening, the only way to get a Capital One secured card credit limit increase is to pay on time for 6 months. If you do, Capital One will likely raise your credit limit during the 7th month.
How fast can a secured credit card raise your score? ›
How Long Does It Take To Build Credit With a Secured Credit Card? If you've got absolutely no credit history, you should find yourself with a FICO credit score in as little as six months after opening a secured credit card.
Does Capital One build credit faster? ›
Yes, Capital One cards help you build credit, as long as you use your card responsibly and pay your bill on time every month. Most Capital One credit cards are especially good for building credit as they are free to use, and your account information gets reported to the three major credit bureaus monthly.
How long before credit one increases credit limit? ›
If you work to improve your credit for at least six months, it's possible you could qualify for an automatic credit limit increase or get one if you ask again. Consider applying for a new credit card. You should also consider applying for a credit card from another issuer.
Does your credit limit increase automatically? ›
Card issuers are known to automatically increase cardholders' credit limits from time to time (with no effect to your credit score), especially if you keep your income information up-to-date and have a good payment history. However, not everyone will receive an automatic increase.
Best high-limit credit cards
- Chase Sapphire Preferred® Card.
- Chase Sapphire Reserve®
- The Platinum Card® from American Express.
- Chase Freedom Unlimited®
- Capital One QuicksilverOne Cash Rewards Credit Card.
- Platinum Secured Mastercard® from First Tech Federal Credit Union.
Best high-limit credit cards
| Card | Best for | Minimum credit limit |
|---|
| Citi Double Cash® Card | Simple cash back | $500 |
| Chase Freedom Unlimited® | Bonus cash back | $500 |
| Petal® 2 Visa® Credit Card | Building credit | $300 ($10,000 maximum) |
| U.S. Bank Cash+® Secured Visa® Card | Rebuilding credit | $300 ($5,000 maximum) |
3 more rowsMar 15, 2024
Comparing the best cards for a 500 credit score
| Card name | Annual fee | Security deposit |
|---|
| Discover it Secured® Secured Credit card | $0 | $200 |
| Petal® 2 “Cash Back, No Fees” Visa® Credit card | $0 | None |
| Mission Lane Visa® Credit card | $0 to $59 | None |
| Indigo® Mastercard® | $0 to $99 | None |
2 more rowsJan 25, 2024
A request may be denied because of previous missed payments or a high balance. Or it may be because the account hasn't been open long enough. If your credit limit increase request is denied, it doesn't mean you can't get approved for one in the future.
What is the highest credit limit for Capital One? ›
Capital One Venture Rewards Credit Card
Highest reported credit limit: $58,000, according to a member on the myFICO forums. Sign-up bonus: Earn 75,000 bonus miles when you spend $4,000 on purchases in the first three months from account opening. Rewards: Earn 2 miles per dollar on every purchase.
Which one is better capital one platinum or quicksilver? ›
If you can get approved for both, the Capital One Quicksilver card is better than the Platinum card. The Quicksilver card will give you a welcome bonus, 0% APR for the first 15 months and 1.5% cash back. The Platinum card offers no rewards or bonuses, but it also comes with no annual fee.
Is it bad to max out a secured credit card? ›
Carrying a large balance on your credit card and nearly maxing out your limit may result in a drop in your overall credit score, and lenders might view you as a potential credit risk. A good rule of thumb is to keep your credit utilization ratio under 30%.
Can I upgrade a secured credit card? ›
When to Upgrade Your Secured Card. You can typically qualify for an upgrade after six to 12 months of responsible use, though the exact timing depends on the card issuer. Contact your credit card issuer to find out when you may become eligible to upgrade your secured card.
What is the most you can put on a secured credit card? ›
The required security deposit means that lenders can afford to issue cards to people who might otherwise not qualify for a credit card. A minimum security deposit tends to be around $200, with maximums as high as $5,000. The right amount depends on how much you have available and how you plan to use your credit card.
Will having multiple secured credit cards build credit faster? ›
Can I build credit faster with 2 secured credit cards? Yes, having two secured credit cards can potentially help you build your credit faster.
