Stingy Capital One

wilco_2

Hi

I have recently asked for credit limit increases on two of my cards because i want to do a bit off card shuffling. The Halifax upped my limit by £2000 straight away but Capital One refused me. I checked my credit file online last night and the only blemish there is me paying the Halifax late once which was due to the Royal Mail delivering my cheque late. I was just wondering if anyone else had found Cap1 to be tight when it comes to giving credit increases, i have held bothe cards for about 4 years so they have had plenty of time to see how i manage my account.

Cheers

Gotabiscuit

Have you been given an automatic increase or requested an increase in the last six months?

I think Capital One like to leave at least six months between increases.

johnllew

I've had regular automatic increases from CapOne - up from £4000 to £9500 over the last 6 years.

I would never rely on the vagaries of the Royal Mail - I think it's better to pay by direct debit, BACS or debit card. You can't risk black marks on your credit file with this game.

wilco_2

I have had the card for 3 maybe 4 years and its the first time ive requested a limit increase and ive never had an automatic increase either. When i got the card the limit was £3400 and its still the same today btw its a cap1 platinum. My other card companies up my limits automaticaly all except morgan stanley who ive never asked either. Should i give them a try i have just cleard the whole card with Morgan Stanley with a BT.

Im new to this game realy ive just let the card companys get there own way for years but now ive found this site its given me the confidence to go and try to get better deals out of them.


Cheers

blinko

dont worry i think a couple of black marks are good, as it shows the credit card copmanies that you are not only reliable with payments but also a profitable card holder due to the late payments,

realaledrinker

Blinko,

Read that post again and then go back on other posts where you report difficulties in obtaining new cards...

deemy2004

dont worry i think a couple of black marks are good, as it shows the credit card copmanies that you are not only reliable with payments but also a profitable card holder due to the late payments,

LOL ;D

Systemaddict_2

Paying late - does that really help improve your credit rating and get more credit.

Are telling this from your personal experience or just making a simple but logical assumption?

Tim_L

CC companies assess likelihood of repayment as the primary consideration when issuing cards.

Missed payments are therefore likely to weigh heavily against applicants, though I don't think a single instance is likely to be a big deal (I have one and it hasn't caused me a problem).

mb_king

wilco

Capital one advise 7 mths between credit limit requests.
They do review the accounts frequently and often send out upgrade offers.
It is a major factor that the account doesn't go over the limit and payments aren't late more than a few times.

RAM1_2

CAPITAL ONES POLICIES ARE MOST PECULIAR AS MY CREDIT LIMIT IS £5,800 AND I WORK WHILST MY WIFES CREDIT LIMIT IS £7000 AND SHE DOES NOT WORK AND HAS NO OTHER INCOME!!! KEEP TRYING AS YOU NEVER KNOW. RAM.