Credit Rating: How it works and How to improve it discussion area

Zack1

Chrysalis wrote: »

I have a balance, no where near my limit but a balance is there.

Initially for the first 2 increases it was just paying in full every single month, after that I kept a small balance but pay way more than the min payment, typically I am spending money on the card hence the payments.

Even if they make no interest of you, if you regurly use the card they make cash on transaction fees.

My current balance is about £650, £400 of it was christmas spending and I am this week making a payment of about £500 to the card to bring it back down again.

I suspect those who only service the interest (min payments) are killing their chances of an upgrade.

That's strange, I've read lots about people never getting increases (sub-prime thread). I spend about 80-90 on the card every month (only have £100 limit). They are increasing it next month, but it looks like it's only going to £200. I always pay in full though. I know they get the merchant fees, but that's nothing compared to the interest they'd get if I left a balance on there

Hopefully I get a bigger increase, or increase in future then...been told that it's most likely after a while by closing the card and reapplying for a higher card, which isn't very attractive!

never-in-doubt

Zack1 wrote: »

Thanks, it's possible then . I heard if you are stuck on their classic card then you get 1 increase and that's it, so hopefully they upgrade me.... Did you ever have a balance with them? I'm worried if I make them no money I won't exactly be top of the list for an upgrade...

Zack if you try reading back a page mate! It was me who suggested that they were upgraded as their limit (and increments) are out the norm for the classic card.

You won;t get regular increases, you get one after 4th statement - thats it. To get upgraded nowadays you need to close the classic and reapply for whatever card after 6 months but as Elky stated, that isn't always a good thing cos he closed a £500 classic for a £100 plus card lol

never-in-doubt

Zack1 wrote: »

That's strange, I've read lots about people never getting increases (sub-prime thread).

Mate the sub prime thread is right - you only get 1 increase. You're shocking! You can;t believe everything you read lol..... take into account what others have told you in the past, did you see a page or two back - you have the guys from sub prime on here confirming the classic gives ones increase with no upgrades! lol :rotfl::rotfl:

Pay attention sonny boy hehe :p

never-in-doubt

Chrysalis wrote: »

I have a balance, no where near my limit but a balance is there.

Hiya :D

I'm not disputing your case, but as you can see there is confusion as the guys from sub prime are all aware of the one increase on statement 4 - thats what I was saying the other day lol....

I still think you were upgraded but the only way to tell is by CCAing them which to be honest isn't wise :rotfl:

As agreed the other day, we'll let you be the exception lol (compliment for free)

Chrysalis

I am sitting here wondering if I even started on the classic card. I applied for the classical, my credit rating was poor when I applied and the card has no platinum written on it so I assume it was the classic. Yet I seem to be the only one who has had more than one increase.

Zack1

never-in-doubt wrote: »

Zack if you try reading back a page mate! It was me who suggested that they were upgraded as their limit (and increments) are out the norm for the classic card.

You won;t get regular increases, you get one after 4th statement - thats it. To get upgraded nowadays you need to close the classic and reapply for whatever card after 6 months but as Elky stated, that isn't always a good thing cos he closed a £500 classic for a £100 plus card lol

Haha oooh so I still get another after next months? I thought I got the 4th statement one and that was it. 1 more will do then if they want to bump it up a lot! Shame they won't upgrade accounts nowdays. Ouch that's not good for Elky though! That's why I don't plan on closing it to reapply though

never-in-doubt wrote: »

Mate the sub prime thread is right - you only get 1 increase. You're shocking! You can;t believe everything you read lol..... take into account what others have told you in the past, did you see a page or two back - you have the guys from sub prime on here confirming the classic gives ones increase with no upgrades! lol :rotfl::rotfl:

Pay attention sonny boy hehe :p

Haha, or the one at 4th statement rather than after it! I know what you mean now! Yea just one then I'll remember that now!

Chrysalis

never-in-doubt wrote: »

Hiya :D

I'm not disputing your case, but as you can see there is confusion as the guys from sub prime are all aware of the one increase on statement 4 - thats what I was saying the other day lol....

I still think you were upgraded but the only way to tell is by CCAing them which to be honest isn't wise :rotfl:

As agreed the other day, we'll let you be the exception lol (compliment for free)

yeah it could be my account is simply screwed up so I understand what you saying. also it is a visa, the other 3 cards are all master cards. Seems a defenite screw up. I agree with you as I have read the capital one poll thread as well and everyone either no increase or one increase.

never-in-doubt

Chrysalis wrote: »

yeah it could be my account is simply screwed up so I understand what you saying.

You're just lucky! Even your apr is too low to suggest it is the classic - you know what, I bet you applied for the classic and your rating was better than that card deserved so they gave you a mark II classic (you know, like the same card without the restrictions - if one exists?).... also bear in mind your card is a couple of years old?

Maybe the rules were different then?

I dunno lol - best to assume you don't have the 'traditional' classic card - we can agree on that! :D

never-in-doubt

Zack1 wrote: »

Haha, or the one at 4th statement rather than after it! I know what you mean now! Yea just one then I'll remember that now!

Mate yea, you got it - one increase on statement 4. smartey arsey lol :rotfl::rotfl:

Chrysalis

I am waiting now for my screwed up endless supply of limit increases