How Do I Request a Credit Increase from Capital One?

Introduction

There are multiple reasons why you might want to ask for a credit line increase. You may be looking for more spending power or simply want to boost your credit score. Asking for an increase may seem intimidating, but it’s a simple process that takes minutes to do. Capital One evaluates each line increase based on your current credit score, credit history, income, account balance, and account age. The good news is you can request the increase online or over the phone, and the company will either let you know immediately or within a few days if you’ve been approved.

Check Your Eligibility and Prepare

Before requesting an increase, log into your Capital One account at capitalone.com. If you have never logged in, you’ll need to create an online account using your personal information and credit card number. Once you log in, navigate to the account you’re requesting an increase on. At the top of the page, choose the drop-down menu “Offers & Upgrades.” First, click on “Update your income info.” Check to make sure Capital One has your current information and make changes if needed. Your account should also be in good standing and up to date. Note: You will also be asked to enter your total annual income on the increase step, where you can include any additional income you want considered.

Submit Your Request Online

After updating your information, under the same drop-down menu, choose “Request a credit line increase.” A pop-up window will appear. Fill out your total annual income and employment status. Capital One will also ask about your current living situation, so you’ll need to tell whether you rent or own your own home or have other arrangements. Enter your monthly housing payment. Estimate what you expect you’ll spend each month on the current credit card. It’s ok to guess if you’re unsure, but it’s a good idea to stay well below your maximum credit line. Finally, enter your desired credit line increase and submit.

Follow Up If Needed

In many cases, Capital One provides an instant decision, but it may give you a message that they will contact you after reviewing your information. You may also contact a customer representative at Capital One for general customer service. Explain that you just applied for a credit line increase and ask if they can provide you with any information. They will let you know if any additional documents are needed to process your request, such as bank statements or a current pay stub. If denied, you may apply again within a few months until you receive the answer you’re looking for. It’s important to note that Capital One will likely do a hard pull on your credit to determine your creditworthiness for an increase.

Conclusion

Requesting an increase is a quick and easy process. If approved, your new credit line should appear almost immediately on your account. You’ll also receive written confirmation in the mail or via the app, whether you’ve been approved or not.