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Is Cap 1 on Crack? 50K Limits?


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A "mile" is just one tiny penny.

I have not delved into the economics of CC rewards but my $45.63 CB on Quicksilver was turned into 4,563 Venture miles.

 

The ignorant in me likes the miles better than the CB.

 

And thinks that If a mile is a tiny penny,

 

Between Venture one and Venture

 

If I get 60,000 bonus miles,

 

isn't that equivalent to $600 free money?

 

 

Please note that these "miles" are worth a whopping penny each only if you redeem them against travel charges.

 

They're only worth a half cent each if you opt for actual cash back, so that would be $300 in "free money" with no spending restrictions, and if you choose to take cash back on an ongoing basis, this card is a flat 1% cash back card with a $59 AF. That would make this thing less rewarding than my old CU secured card.

 

From the terms:

 

Can I redeem my rewards for something other than travel?
You can also redeem your miles for cash, gift cards and more. Rates for these other redemption options vary and are subject to change without notice. As an Accountholder, you can visit capitalone.com to register your account and see a complete description of current redemption offers.
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Can someone explain how/why they won't increase my limit on a card with $3k limit, but will give me a new card with a $50,000 limit? I would rather have the limit on one of these older cards that's I've now had for 8 years.

 

A new card hurts your scores and keeps you more captive to them.

 

Neither are true with a solid file. And, if they are giving a new $50k limit, the file is solid.

 

Just close the $3k card. Easy Peasy!

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Pulled the trigger on another Venture since I just closed an old subprime $750 Sony Card and moved the limit over to a newer card.

 

Approved for a $5,000 limit. (My other CapOne cards are $33,000, $5,250, and $2,250).

How did you get that limit moved over? Cap1 doesn't combine.

They do as of July 1. You have to call in.

Interesting. I had no idea, but I'm very interested.

Did they pull any CRA, just asking because I know they are pull happy...

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Recently got a CLI from $30k to $35k without going to the EO. Put over $50k in charges and PIF over last 4 months. Business account. Had to call in for a manual review, the CLI button always said you have the maximum limit available on this card, but the Manual review did the trick. I did not receive a HP. I asked for $20k CLI but they only gave $5k. Account is 1 year old and I use t a ton because of the 2% Cash back business spark card. At least this is a step in the right direction.

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I knew something was up! Cap1 canada also has been smoking the crack. Take me for example, my EQ and TU are hovering at 581. I have one CO and one CC with only $500 no lates for 9

Months. They gave me a $5 000 limit. I'm happy!

 

 

Sent from my iPhone using Tapatalk

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  • 4 weeks later...

 

 

I just got approved $30,000 on the Venture card.

 

Bankruptcy filed in May 2015, EQ 624, TU ?, EX frozen

 

I have 4 other Capital One cards that I got after discharge, all with starting limits of $3,000 and current limits under $5,000. So yes they are on crack 10 times the previous starting limit.

Bankruptcy filed May 2014, not 2015

 

Approved for another Venture card. $5,000 limit. Will try again next month.

 

Denied for another Venture card. Went from a $30,000 approval in June, to $5,000 approval in July, to a denial in August.

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I just got approved $30,000 on the Venture card.

 

Bankruptcy filed in May 2015, EQ 624, TU ?, EX frozen

 

I have 4 other Capital One cards that I got after discharge, all with starting limits of $3,000 and current limits under $5,000. So yes they are on crack 10 times the previous starting limit.

Bankruptcy filed May 2014, not 2015

 

Approved for another Venture card. $5,000 limit. Will try again next month.

 

Denied for another Venture card. Went from a $30,000 approval in June, to $5,000 approval in July, to a denial in August.

 

 

They've already been pretty generous and shown you their exposure at this time. I wouldn't complain about it at all.

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I just got approved $30,000 on the Venture card.

 

Bankruptcy filed in May 2015, EQ 624, TU ?, EX frozen

 

I have 4 other Capital One cards that I got after discharge, all with starting limits of $3,000 and current limits under $5,000. So yes they are on crack 10 times the previous starting limit.

 

Bankruptcy filed May 2014, not 2015

Approved for another Venture card. $5,000 limit. Will try again next month.

Denied for another Venture card. Went from a $30,000 approval in June, to $5,000 approval in July, to a denial in August.

They've already been pretty generous and shown you their exposure at this time. I wouldn't complain about it at all.

This.^ I've got a BK discharged in 2011. I would be thrilled to have a $30K line with Cap One. Treat your cards well and I'm sure Cap One will reward you with CLI's after you've proved yourself.

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got a 15k venture from cap one in may

decided to pull the trigger on a quick silver this evening and got a 3K approval;

my hope process is that 5 statements from now i can get a credit increase on the quicksilver, and then the following month if they still do this combine the two cards together into a larger venture;possibly even do a credit increase on the venture before doing the combination... not sure, just see what is trending around that time.

 

also, after posting i saw my signature with my credit scores.

i gotta focus this week, monday, on finishing up another round of cleaning up my remaining baddies; yuck.

Edited by muntja
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  • 3 months later...

 

 

 

 

 

I just got approved $30,000 on the Venture card.

 

Bankruptcy filed in May 2015, EQ 624, TU ?, EX frozen

 

I have 4 other Capital One cards that I got after discharge, all with starting limits of $3,000 and current limits under $5,000. So yes they are on crack 10 times the previous starting limit.

Bankruptcy filed May 2014, not 2015
Approved for another Venture card. $5,000 limit. Will try again next month.
Denied for another Venture card. Went from a $30,000 approval in June, to $5,000 approval in July, to a denial in August.

They've already been pretty generous and shown you their exposure at this time. I wouldn't complain about it at all.

This.^ I've got a BK discharged in 2011. I would be thrilled to have a $30K line with Cap One. Treat your cards well and I'm sure Cap One will reward you with CLI's after you've proved yourself.

 

 

They just instantly approved me for 2 more Venture cards today each with $5,000. Total limits with Capital One over $50,000 now. Thanks Capital One!

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I just got approved $30,000 on the Venture card.

 

Bankruptcy filed in May 2015, EQ 624, TU ?, EX frozen

 

I have 4 other Capital One cards that I got after discharge, all with starting limits of $3,000 and current limits under $5,000. So yes they are on crack 10 times the previous starting limit.

Bankruptcy filed May 2014, not 2015
Approved for another Venture card. $5,000 limit. Will try again next month.
Denied for another Venture card. Went from a $30,000 approval in June, to $5,000 approval in July, to a denial in August.

They've already been pretty generous and shown you their exposure at this time. I wouldn't complain about it at all.

This.^ I've got a BK discharged in 2011. I would be thrilled to have a $30K line with Cap One. Treat your cards well and I'm sure Cap One will reward you with CLI's after you've proved yourself.

They just instantly approved me for 2 more Venture cards today each with $5,000. Total limits with Capital One over $50,000 now. Thanks Capital One!

That's a lot of Cap 1 cards in such a short period of time. Did I count correctly? Five cards within 12 months from Cap 1 with $50K exposure?

 

Impressive.

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Too funny, this old thread popped up today. I had ignored it in the past, but this time I read through the first couple pages from back in Feb...and I bit and app'd for the Venture. $25K Venture is on it's way. Nice! That just became my largest single CL, passing my $20K PenFed Visa. All 3 of my CRA's are reporting in the 730-750 range, for what it's worth.

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Too funny, this old thread popped up today. I had ignored it in the past, but this time I read through the first couple pages from back in Feb...and I bit and app'd for the Venture. $25K Venture is on it's way. Nice! That just became my largest single CL, passing my $20K PenFed Visa. All 3 of my CRA's are reporting in the 730-750 range, for what it's worth.

 

Congrats!!! :clapping:

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  • 3 weeks later...

Just pulled the trigger on venture and land d a $20k limit. My next highest limits are a pair of $3k cards from a local CU. I'm about 10 months post discharge with a Ch13 and my scores are in the 680 range. I'm damn shocked, but I did get a pre-qual hit for venture before applying. Now sure if I should app a quicksilver as well? What's the twofer process to use the same pull?

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Just pulled the trigger on venture and land d a $20k limit. My next highest limits are a pair of $3k cards from a local CU. I'm about 10 months post discharge with a Ch13 and my scores are in the 680 range. I'm damn shocked, but I did get a pre-qual hit for venture before applying. Now sure if I should app a quicksilver as well? What's the twofer process to use the same pull?

 

Congrats!!!

 

IIRC, the 2nd card, should be 1 more pull... 4 total, with 2 cards, back to back. QS seem to give either $3k or $10k.

 

As always, YMMV

Edited by Kat58
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Does anyone have anecdotes about getting 2 Ventures?

 

Seems the signup bonus is good, the rewards are good, and the credit limits are high.

I got mine in July, 30K limit, I see no reason not to get a second one except for it being a 2-bureau puller (with EX frozen).

I googled around a bit, haven't seen many anecdotes about this. Like, easy approval? And what kind of credit lines do they toss out for card #2?

Thanks in advance,
MP

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  • 2 weeks later...

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