CAPITAL ONE - Credit Limit

HD840

How cast-iron solid is the fact that CapOne increase credit limit on 4th statement.

I have had a card since 1st April this year and have always made in excess of minimum payments each month and kept within credit limit.
I have had 3 statements with my 4th one due on 13th July.
Should I receive an increase at that point and to what amount (my current limit is £200).

Thanks.

Careful_with_that_Axe

Hi
My limit was initially £200 and I paid it off in full every month until 4th statement when limit was increased to £500.
I think it's probably a certainty unless something has gone awry with the use of the card prior to 4th statement.
Good luck!

YorkshireBoy

HD840 wrote: »

...have always made in excess of minimum payments each month...

Hang on a minute!...your card has a typical APR of 34.9%.

It only has a credit limit of £200, yet you a) can't clear the balance every month, and b) want to spend (and presumably not clear each month) more!?

If you have it purely for credit building (and it doesn't sound like you have), then 1 x £5 purchase each month will do the job. If, on the other hand, you're using it to 'live' then please be very careful because 34.9% APR is very high.

thegman_2

It will be raised on your 4th statement if you've kept to the terms. Mine was raised to £500 from the initial £200. However that was over a year ago and i've had no further increases, despite staying within the limit and making all payments on time.

bx19rd

Been reading the forum a long, decided to register today when lookig for info on Capitol One Classic and there credit limits.

I had my Capitol One Visa way back in 2004 within about 6 months soon after they upped the limit to £800 from £200 and they won't up it again, its been years, all they ever tell me is they "reveiw accounts periodically". I stay within in the limit, make all payments on time and pay way more than the min. I know the card I have has according to there website a limit of £2500 maximum.

colin13

I VE GOT CAP1 credit card had an intial limit of £500 affter about 6 months of using it,and paying off every month ,,they increased it to £1 500,, as yorkshire boy says use it carefully I only got 1 to build up my credit again ,, which I hope I m doin ok with now

Bismarck

well...other limits on my cards have reached heady heights but Cap One has resolutely stuck at £1500...has been so for about 8 years....