capital one credit classic limit increases please input feedback

darcyvuqua

thats good i have kept a balance on the card i currently have £25 on it with a limit of £100 i will pay that on or around the 16 just in time for a £0 balance for my forth statement!

hopfully i will go down the same path as you did you have any nasties on your credit file?

cos_2

I didn't look at my file at the time but was way behind on mortgage (ended up with a sub-prime one). I was in the last year of paying a four-year voluntary arrangement which had consolidated all my previous CC and loan debt - and got behind on that, too.

Got through it, though

msaquib

Hi,

My other half opened a Capital One classic card around the end of August. She has received 3 statements 15/09, 15/10 & 15/11. She hasen't had a credit limit increase yet?

Does capital one increase the limit exactly on the 4th statement?

Thanks
M

sutton111

Mostly yes. But alot of people haven't had an increase after the 4th statement.

akashi

clio wrote: »

whats the cap1 premier card then matey??

Nothing useful, just a prettier card I think

msaquib

sutton111 wrote: »

Mostly yes. But alot of people haven't had an increase after the 4th statement.

Just been to Cap1 website and it says the following:-

† We like to help our customers manage their account responsibly, so if you make a transaction (other than refunded purchases) before your third statement, stay within your credit limit and make your repayments on time, we'll increase your initial credit limit.

How can they say no to limit increase if the account has been used and no late payment.

M

sutton111

What i'm saying you will most likely get an increase but after that 1st increase you may not get one again.

akashi

From what Capital One say, they will increase your limit on your 4th statement as long as you have spent and stayed within limits.

Based on what users have reported this is not always the case. Some have never received the increase. However, in my case I did get the increase on the 4th month.

I do not know how Capital One are picking the ones, who get the increase. I do know on my initial £500 limit I was spending around £400 every month, this could be the reason why they increased it.

Now my limit is £1100 and I spend around £200 every month, they haven't given me an increase and I have already received my 8th statement.

louiser123

i am now on my 10th statement with crap one and have had no increase since fourth statement, from £100 to £300, i have asked customer service when increases are done and have also requested one but was told requests are not possible, they just review accounts periodically and increase if they wish, however on also asking when do accounts usually get reviewed i was told the card i have cap one classic isnt one that is reviewed, so to my thinking whatever increase you get on 4th statement if any is the limit you are stuck with forever, hence closing account shortly due to having a more mainstream card now and also aqua who are very good.

bigstevex

cos wrote: »

Mine started at £200 as my credit rating was shot to bits through divorce issues. Raised to £500 after 4 months and then £2000 after a full year. I closed it a while ago but noticed on my latest Experian report it is marked as closed (or satisfied?) with a limit of £3000, so they must have raised it as I was closing it!

For the first wee while I repaid in full, but quite soon wasn't able to and that's when the limit started to rise. I was always just under the limit and paying a whack of interest. When they raised it to £2000 I nearly maxed it in two or three months.

Fortunately, change of circumstances meant I was able to clear it.

My t&c said I could only have £2500 max for this credit agreement, I would have though everyone was the same?