Capitol One Con Advert

YorkshireBoy

hilary1 wrote:

I doubt its to do with credit rating...

It's everything to do with your 'credit score' according to Capital One - of which your 'credit rating' information, as provided by the CRA's, forms a major determining factor.

...my other cards have high limits...

Capital One see your other 'high limits' and are reluctant to extend you further (available) credit for you to use.

...I earn more now that when I applied for them a few years ago.

But you also have more 'debt' (from your A&L stooz) and far more available credit than you did then - possibly?

A&L gave me a £5000 limit earlier this year.

You can't keep adding to your available/used credit forever. At some point, lenders will start to reduce the credit limit they offer you or, in your case, offer you a different product altogether.

Isnt it odd then JohnR had exactly the same offer as me?

It's nothing more than coincidence - and certainly not a 'con'.

At the end of the day, you simply weren't the type of customer that Capital One were looking for with this product. Don't beat yourself up over it.

kuohu

I know it'd take resources, but wouldn't it be good if the credit card companies themselves could give this sort of frank response (as above) when issuing rejections.

CuppaT

Capital One are jokers.

I had 2 cards with them back in the old days - a standard card with ridiculous rate (£400 limit) and a Silver one (£650) limit. At the time I wanted to apply for the No hassle platinum card so cancelled my current cards accordingly.

A short period after the application, the not so unfamiliar 'You do not meet the criteria...but have this card @ 29% APR and £200 limit'. Hmmmm

Needless to say, a letter of appeal went off to them, a week later the papers to sign for the Platinum card with an £8k limit without providing any further information.

Go figure!