Capital One - Increased limit with signature?

cduuffo13

Hey guys, can anybody tell me if possible, if it was right for Capital One to increase my credit card limit from £500, to £1100 without a signature?

basically am in a big hole at the moment with money complications and problems. I have only just got out of my outstanding balance with Capital , Paid them £120. at end of Sept. and now WITHOUT using my card am bank over into the outstanding balance due to the APR Ect, + probs bank charges.

Am in a bad boat, with no income just a full time student, and next student loan is in January. but they keep phoning me + requesting payment which i do not have. am barely living at my parents house, who which i dont go out, + dont spend anything everyday, as i take my own lunch into university and walk.



what to doooooo

poppy_f1

yes they can increase without a signature from yourself, most CCs work like this and automatically increase

RhinoSimon

Why not just contact them and ask them to restore the original (lower) limit? I recall the last time my card issuer did this I requested that they return the limit and this was done very quickly. Given what you have said about having no income and other finance worries do you really need this temptation hanging around?

Moggles_2

Basically am in a big hole at the moment with money complications and problems. I have only just got out of my outstanding balance with Capital One, paid them £120 at end of September and now WITHOUT using my card am back over into the outstanding balance due to the APR etc, + probs bank charges.

Nevertheless, it sounds as though you've turned things round or made a start anyway.

If you meet the statement balance on time for two consecutive months, the interest charges will stop.

From that point on, if you only ever spend what you can afford to pay back on time each month, you'll never pay interest again and you'll be building a better credit history. This, in turn, reduces the risk of further interest rate hikes.

The increased credit limit neither helps nor hinders the above process. If it worries you, a phone call to customer services is all that's required, to request your former credit limit. The lower limit would be an advantage to Cap One, but what's in it for you?

BigDave81

Of course they can change it, they can put it up or down as they see fit and is noted in the t&c's.

Can you not trust yourself with your own card/money not to use it just becuase it is available?!?

As mentioned though one quick call asking to put it down again and situation rectified