💫 Summary
This video provides a step-by-step guide on how to increase your credit limit on a Capital One credit card without a hard inquiry. The video emphasizes the importance of having Capital One on your credit profile and offers tips on using the card properly. It also highlights the tier system of Capital One credit cards and advises against taking additional credit card offers.
✨ Highlights📊 Transcript
This section explains the importance of having Capital One on your credit profile and how to use your Capital One credit card properly.
Capital One is one of the largest subprime lenders in the United States.
Having Capital One, along with other big banks, on your credit profile shows lenders that you are a serious borrower.
It is crucial to keep subprime credit cards off your credit profile when using Capital One.
Understanding how to use your credit card with Capital One is important, as utilization and paying off the card in full every month are key factors in getting a credit limit increase.
Utilization refers to the balances being reported, not the percentage of credit used.
Paying off the credit card in full every month shows Capital One that you can be trusted to pay back the money.
Using the credit card regularly and not just a small portion of the credit limit will increase the chances of getting a credit limit increase.
The video discusses how to increase your Capital One credit card limit and manage your credit cards effectively.
Capital One can increase your credit card limit without requiring a hard check.
It is advised not to accept offers for additional credit cards when getting a secured Platinum Card.
Capital One operates on a tier system, with different levels of credit cards available.
To manage your cards effectively, you should upgrade your secured card to an unsecured card or a higher-tier card.
When requesting a credit limit increase, it is important to choose "employed" instead of "self-employed" to avoid triggering a financial review and potentially being denied.
Putting "self-employed" can be seen as a higher risk.
It is advisable to put your correct job title.
The credit limit increase is based on your credit profile, not the income you state.
Including bonuses or additional income in your application can give you more flexibility in increasing your credit limit.
To increase your credit limit with Capital One, make sure you don't have any outstanding balance on your active credit cards.
Capital One is more likely to deny a credit limit increase if you still owe them money.
Request a credit limit increase every six months for all your Capital One credit cards.
There is no hard inquiry involved in this process.
00:00I'm gonna show you how to get a credit
00:02limit increase on your Capital One
00:03credit card with no hard inquiry
00:13on today's episode we're going to cover
00:16all the do's and don'ts and all the
00:17things that you need to know about
00:19Capital One to help you get that credit
00:22limit increase because there's a lot of
00:24bad information out there that has you
00:26really confused but on today's episode
00:28we're going to clear that all but make
00:30sure you watch till the end because I'm
00:31going to walk you through step by step
00:33how to get that credit limit increase
00:35welcome back to the channel I'm Mike the
00:37credit guy I'm the owner and founder of
00:39Limitless culture we create the most
00:41advanced DIY credit management system in
00:43the industry our system allows you to
00:46take control of your credit creating
00:48custom Metro to attack letters every
00:50single round never using templates for
00:53only 55.99 a month link is always going
00:56to be in the description now let's get
00:58into this video a lot of people do not
01:00understand that it's super valuable to
01:03have Capital One on your credit profile
01:05because you want to have at least three
01:07to five big banks on your credit profile
01:10who are those big Banks Capital One very
01:12clearly they're one of the large largest
01:14subprime lenders in the United States
01:16then you have Discover Bank American
01:20Citibank and then who else Chase those
01:24are the five big banks that you want on
01:26your credit profile having those big
01:28banks on your credit profile tells
01:30lenders that you are a serious borrower
01:33the fact that you're in the Capital One
01:34family is a big deal so once you get
01:37your foot in the door you want to make
01:39sure that you make all the right steps
01:40moving forward with Capital One so you
01:43can continue to build on that
01:45relationship because building a
01:47relationship is the most important part
01:48but you need to understand how exactly
01:51to use your credit card properly with
01:53Capital One you really want to make sure
01:56that you keep all of the sub Prime
01:58credit cards off of your credit profile
02:00I'm referring to the credit ones the
02:03Premier credit card the Open Sky these
02:06are all harvesting fee credit cards that
02:09charge you an annual fee a monthly fee a
02:11late fee they charge you for anything
02:13they can possibly charge you and you
02:15want to keep those off your credit
02:16profile because even if you close it
02:18it's gonna stay on your credit report
02:20for up to 10 years you could have easily
02:23got the Capital One Platinum security
02:25card now you can see this is a really
02:27old credit card this was my third credit
02:29card I got when I was 26 years old I had
02:33no idea how valuable it was for me and I
02:35made a lot of bad mistakes with Capital
02:37One along the way so I'm gonna make sure
02:40that you don't make those mistakes and
02:41you get yourself back on track with
02:43Capital One
02:44understanding how to use your credit
02:46card with Capital One is super important
02:48because there's so much bad information
02:50out there everyone's saying don't use
02:52more than 30 of your credit card or 10
02:55or 20 they are all wrong it doesn't
02:58matter how much of your credit card that
03:00you use remember utilization is the
03:04balances that are being reported you
03:07need to understand that if you don't
03:09have the money in the bank that at that
03:11exact moment when you want to use that
03:13credit card then you shouldn't use that
03:15credit card you want to pay off your
03:17credit card in full every single month
03:19with Capital One they're one of the
03:21largest subprime lenders in the United
03:23States so they know that if someone's
03:26caring to balance they may not pay us
03:28back they're used to people not paying
03:30them back so you got to prove to them
03:32that you're gonna pay the money back
03:33every single month on time and in full
03:37the biggest mistake that I made with
03:39Capital One was I was not using my
03:42credit card properly they gave me a 300
03:44credit limit I was only using 10 bucks
03:4730 bucks 50 bucks a month and I was
03:49wondering like why won't they raise my
03:51credit limit I would go and ask for one
03:53they would say sorry just not using your
03:54card enough I'm like what does this mean
03:56I'm not using my card enough well if you
03:58have three hundred dollars and you're
04:00only using 30 or 50 of it why would the
04:03bank give you more money they have no
04:05incentive they're not going to give you
04:07more money if you don't need it you're
04:08not using it so what I had to do was
04:10change my spending habits with Capital
04:13One I started using my Capital One
04:16credit card to pay for my cell phone
04:18my car insurance my gas for my car and
04:21then I would pay it off immediately so I
04:23would pay my cell phone with my credit
04:26and then the next day once it posted I
04:28would make that payment immediately I
04:30was using over fifteen hundred dollars a
04:33month with my actual Capital One credit
04:36card that only had a 300 credit limit
04:39and then I was making sure to never
04:41carry a balance every single month
04:44and I tested this out for a solid six
04:47months and nothing happened and I was
04:50like all right well I'll just wait a
04:51little longer so then once I hit eight
04:53months then I went I requested a credit
04:55limit increase and Bam they actually
04:57made it happen now they didn't give me
04:59my deposit back yet but they did
05:01increase me from 300 all the way up to
05:07last part is the most important another
05:11huge thing that you may not know about
05:13Capital One is when you get the secured
05:15card the Platinum Card they're gonna
05:17offer you another credit card don't take
05:21the offer and the reason being is you
05:24want to either upgrade your specific uh
05:27platinum card to another credit card or
05:30you want them to unsecure this platinum
05:33credit card because if they don't now
05:35you have another Capital One credit card
05:38which is perfectly fine it's great they
05:39gave you a quick silver or quick silver
05:41one or a saver one whatever it may be
05:43they offer you another credit card
05:45that's great but you're still working on
05:47that relationship that relationship
05:49hasn't graduated you want them to
05:52graduate this specific secured card to
05:55an unsecured card and give you your
05:58money back because with Capital One you
06:01can only have four Capital One credit
06:03cards so you want to make sure that you
06:05don't get a bunch of more sub Prime
06:07credit cards now what do I mean by that
06:09something nobody ever talks about
06:11Capital One is on a tier system okay it
06:15starts off with the Platinum Card
06:17the secured platinum card then it goes
06:20to an unsecured platinum card then right
06:23after that is going to be the
06:25Quicksilver one card after that is the
06:28Quick Silver card then after that is the
06:31saver one card next is the Saver Card
06:34next is the Venture one card and then
06:38next is the Venture X Card you see how
06:41it goes there you have to tear up with
06:44Capital One so you wanna make sure that
06:46you do this properly and you don't get
06:48all the other ones in the middle that we
06:50don't want all the ones that have the
06:51one on them alright so you want to go
06:53into your Capital One credit card app
06:56open up the app you're gonna pull up
06:58your card just like I did right here as
07:00you can see this is one of my oldest
07:02credit cards the quick silver one I got
07:04stuck with it because I didn't know what
07:05to do I took the card offer just like a
07:08lot of people do so as you can see it's
07:10a 2500 credit limit go down to the very
07:13bottom of that and click on profile once
07:16you click on profile you're going to see
07:18that there's going to be a thing that
07:19says account features you want to click
07:23on account features and settings that's
07:25going to open up the next option the
07:28next option as you can see on the screen
07:30is going to say request credit limit
07:33increase you need to follow these steps
07:35to a t do not deviate from them
07:40now after you click that button the
07:42screen is going to pop up for employment
07:44status now always make sure that you
07:47never ever put self-employed if you are
07:50self-employed you are employed by the
07:53business so you choose employed if you
07:55choose self-employed it can potentially
07:57trigger a financial review now I'm not
08:00saying it does for people to come into
08:01the comments it didn't ever happen to me
08:03listen I get it I'm just forewarning you
08:06that it can potentially trigger that and
08:08it can have a higher chance of denial
08:11because self-employment is a higher risk
08:13so you don't want to put a higher risk
08:15on yourself so you choose employed
08:18because you are employed by your company
08:19now it's also going to ask you for your
08:21title you put chief executive officer or
08:24whatever your title is and then you move
08:26forward it's going to ask you for your
08:27income so when you fill out the income
08:30part let's say for instance you make 125
08:33000 a year a lot of people think that
08:36the more money they put on their on
08:37their actual application or their credit
08:39limit to increase the more they're going
08:42to get well now that's not the case it's
08:44all based on your credit profile so if
08:46you have a bunch of high limits then
08:48guess what they have a higher chance of
08:50giving a high limit credit card or
08:52increasing your credit limit because
08:53they they see that you manage that but
08:55if you got a bunch of subprime credit
08:57cards 300 500 increasing your income is
09:01not going to increase the credit limit
09:02that they give you initially I just want
09:04you to know that so if you were to make
09:06120 000 and you put you make sixty five
09:09thousand every six months or once a year
09:13you have more wiggle room to increase
09:16how much money you actually truly make
09:18you're not lying because guess what you
09:21do make sixty five thousand but you're
09:23not including the rest of it because it
09:26could be bonuses it could be whatever it
09:27may be but this is a huge mistake that
09:30people make when they ask for credit
09:32limit increase they started too high now
09:34they don't have anywhere else to go
09:35because now you don't you don't make it
09:37more than 125 000 sometimes if you put
09:40more than that or a larger amount that
09:43you cannot prove guess what it can
09:45trigger a financial review now it
09:47doesn't mean it will I'm just telling
09:48you like I said earlier that can happen
09:51and you don't want to go under financial
09:52review so make sure that you leave
09:54yourself enough wiggle room to increase
09:57how much you make every year now before
10:00you slide that button to hit that credit
10:02limit increase request you need to make
10:05sure that you're not carrying a balance
10:07on any of your active Capital One credit
10:10cards because Capital One will have a
10:13higher chance of denying you a credit
10:15limit increase because guess what you
10:17still owe them some money why would I
10:19want to give you more money if you owe
10:21me more money doesn't make sense right
10:23so we just gotta use a little bit of
10:24common sense when we do these things so
10:25remember before you do this make sure
10:28you're not carrying a balance with
10:30Capital One so you have a higher chance
10:32of getting that credit limit increase
10:35now congratulations if you followed all
10:38my steps to a t you should have
10:40successfully got a credit limit increase
10:42with Capital One now if you didn't
10:45remember there's always room for
10:47improvement come back in another six
10:49months don't do it next month or three
10:51months down the line every six months
10:53you can request a credit limit increase
10:55and you should do this with all of your
10:57credit cards with Capital One there is
10:59no hard inquiry to follow this process
11:02all the way to the end if you didn't get
11:04approved you need to make sure that you
11:06look at the denial reason they will send
11:09it to you through email or in the mail
11:12pay attention to the denial reason
11:15they're telling you how to fix it
11:17everybody makes this huge mistake
11:19they're like whatever I'm not going to
11:20use this car anymore screw Capital One
11:22no you're really kind of messing up your
11:24relationship and you can get to that
11:25Venture X credit card and that saver
11:28credit card those are the two best
11:30credit cards in the Capital One Eco
11:33family so I hope you enjoyed this video
11:35we covered a lot about Capital One all
11:37the things that nobody else wants to
11:39tell you if there's anything specific
11:40you want me to talk about drop it in the
11:42comments section let me talk about some
11:44more Capital One credit cards or any
11:46issues you have with Capital One Drop it
11:48in the comment section drop some Emoji
11:49in there so we can get this video going
11:51so more people can watch it and remember
11:54this is all about you our community we
11:56cannot do it without you if you have any
11:58more data points drop them in the
12:00comments so everyone can learn and grow
12:02together because that's what it's all
12:04about now make sure that you watch the
12:06next two videos because they are
12:07recommended by YouTube and don't forget
12:09subscribe to increase your credit score
12:13thank you
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FAQs about This YouTube Video

1. How can I increase my credit limit on a Capital One credit card without a hard inquiry?

You can increase your credit limit on a Capital One credit card without a hard inquiry by following the step-by-step guide provided in the video. It emphasizes the importance of having Capital One on your credit profile and offers helpful tips on using the card properly to increase your credit limit.

2. What are the tips for using a Capital One credit card properly to increase the credit limit?

The video offers tips on using a Capital One credit card properly to increase the credit limit. It emphasizes the importance of having Capital One on your credit profile and provides a step-by-step guide for increasing the credit limit without a hard inquiry. These tips can help you make the most of your credit card and improve your credit limit.

3. What is the tier system of Capital One credit cards?

The tier system of Capital One credit cards is highlighted in the video. Understanding the tier system can help you make informed decisions about your credit card and maximize its benefits. The video provides insights into the different tiers of Capital One credit cards and how they can impact your credit limit.

4. Why is it important to have Capital One on my credit profile?

Having Capital One on your credit profile is important for increasing your credit limit. The video explains the significance of having Capital One on your credit profile and offers valuable insights into the benefits it can provide. It also provides a step-by-step guide for increasing the credit limit without a hard inquiry.

5. Should I consider additional credit card offers when I have a Capital One credit card?

The video advises against taking additional credit card offers when you have a Capital One credit card. It emphasizes the importance of using the card properly and provides tips for increasing the credit limit without a hard inquiry. Considering additional credit card offers may not be beneficial for maximizing the benefits of your Capital One credit card.

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