capital one credit classic limit increases please input feedback

speedy8644

Started with an healthy £1000 limit and now have held the card for 3 months. I will recive my fourth statement in a couple of weeks when apparently capital one state they will increase your limit. Somehow I doubt this will happen. I am surprised people are getting more than £1500 limit as it says on there website in the summary box the maximum credit limit on a classic card is £1500. WEIRD?

Cash_Flow

speedy8644 wrote: »

Started with an healthy £1000 limit and now have held the card for 3 months. I will recive my fourth statement in a couple of weeks when apparently capital one state they will increase your limit. Somehow I doubt this will happen. I am surprised people are getting more than £1500 limit as it says on there website in the summary box the maximum credit limit on a classic card is £1500. WEIRD?

Thats because the credit limit cap on the classic card used to be higher;)

speedy8644

Cash_Flow wrote: »

Thats because the credit limit cap on the classic card used to be higher;)

Thanks cashflow, was scratching my head on that one

izools

Also, that's the highest starting limit, not the highest possible limit. You can start on £1,500 and still technically have the chance of a limit uplift

hello2007

I started off on £200 paying in full every month it stay the same for three years. It only went up to £800 when I started using it every month and paying interest. The limit then went to £1,800 and now it is going up to £2,800 which seems to be increased every year.

I have the classic card and stay well under the limit and pay on time every month.

maddox2003

My limit started at £200.00, just had my 4th statement today and it is still £200.00. I was lucky to get this card as i have only been discharged from bankruptcy about a year ago. I had a stroke of luck after my bankruptcy as i moved house literally the week after being declared bankrupt. After my dicharge in the new house i registered with all 3 CRA (equifax,callcredit and credit expert) i gave them my history of address but missed out the Bankruptcy address to try avoid the black cloud which actually worked. My scores are fairly reasonable (Fair) considering i didnt really have any history prior as i was earning good money so everything was cash.

In relation to Capital One , i have been using more than my limit each month , on Average £800 per month so i have been almost maxing the card (75% ish) then paying it off in full and doing it several times a month. Todays statement say balance of £42.15 but payments in the month of £862.19, previous statement was £54.99.

Could this be the reason that i didnt get a limit increase because the computer thinks i am going crazy with the card although i never exceed the limit?

Some people say roll a balance then the limit goes up but i my current bill is due on 20th October which i havent got the patients to wait.

I tried calling them and they gave me the usual yarn

Lessbutbetter

You're limit will be increased when they decide. It is a waste of your phone bill calling them to try to ask for an increase.

i havent got the patients to wait

. Stop being desperate for more borrowed cash. No wonder you were made bankrupt. Chill with what you have.

<<< and it's patience, not patients.

maddox2003

Thanks for your feedback however i will add a few points.

I didnt go Bankrupt through over borrowing or greed, it was merely the fact that i was a guarantor for an ex girlfriend on a car over 8 years ago. They came chasing me for the money from me a couple of years ago as she stopped paying it, i told them where to go and naturally refused to pay the money.

They declared me bankrupt which i was happy with, never used credit , did'nt owe on loans and dont need credit moving forward. I own several businesses with over 30 staff and have always had plenty of money pay with.

I have 5 credit cards in my name through my Business with £180k limits between them with less than 3% utilisation.

I dont want to build up credit through my own name on capital one because i am greedy, just the fact i want to establish a credit history in the 1st place. My feedback was relating to other post's on this forum about credit limit increases , the same as you being on the site in the 1st place.

Dont judge a book by its cover is the moral of the story

Note to My Self - I must always ensure that my spelling is perfect when adding comments on a forum as there will be some sad !!!!! who have nothing better to do than correct people.

Thanks for your feedback any way


cheers

outerhaven

I've had my Capital One Card for 7 years now and it's still at £200... Don't know why I bother having it any more. I just use it to buy something online if I'm unsure if it'll arrive etc and usually pay it off once I've got what I needed..

I think I've been over my credit limit only once in those 7 years and probably missed one payment but thats all.

Think I might cancel it in the next few months, can't be bothered paying interest any longer if after 7 years I get a credit limit that is 60% of my weekly wages.

Lulee36

got a letter to say my limit will be increased from 200 to 500 on 20th January 2012