CAPITAL ONE 10p Overlimit....

Stephano

Hi,

I've had a capital one credit card for four months (the steep interest rate one!)

On my first statement PPI was added - which I was told would only be applied if I did not pay my balance in full - and this took me 10p over my credit limit of £100

I brought the account back into my credit limit immediately, and I rang Capital One straight away and explained what I had been told and they made a note on my account and said not to worry as it was only 10p...

I have paid my balance in full by direct debit for the whole duration but now I am worried I won't get a credit limit increase (expecting my 4th statement next week) because of this. Any advice appreciated.

Innocent_Guy

Hi There,

Unfortuanatly this would cause your credit limit increase to be blocked. The exact same thing happened to my friend and this stopped his increase. On thing to possibly do is contact the underwriters however it is likely they will still refuse to up your limit as you have not stuck to the agreed terms.

HairY

I accidentally went £4.05 over my measily £100 limit on my 4th statement term. I was charged £12 so am waiting to see if they increase the limit. I basically explained that the card is useless to me with such a low limit and paid it off in the full the day the charge was debited... not terribly happy.

If my limit isn't increased by xmas I will simply ditch the card (my first CC) and go back to debit card.

bingy_burge

as said it will probably be blocked: its a low limit but unless you can manage it won't get increased.

If you ditch dont expect to get a prime card a few years down the line.

Haveing at least one credit card and managing it well is a very powerful tool for your credit file.

Innocent_Guy

HairY wrote: »

I accidentally went £4.05 over my measily £100 limit on my 4th statement term. I was charged £12 so am waiting to see if they increase the limit. I basically explained that the card is useless to me with such a low limit and paid it off in the full the day the charge was debited... not terribly happy.

If my limit isn't increased by xmas I will simply ditch the card (my first CC) and go back to debit card.

Unfortunatly due to this little hickup they will not increase your limit on 4th statement. Capital one are very stick with increases and they are few and far between

Innocent_Guy

bingy_burge wrote: »

as said it will probably be blocked: its a low limit but unless you can manage it won't get increased.

If you ditch dont expect to get a prime card a few years down the line.

Haveing at least one credit card and managing it well is a very powerful tool for your credit file.

This is exactly capital ones argument.

If we give you a low limit and you can't manage it what will you be like with a higher one

Stephano

Thanks for the replies.

It is frustrating as I did keep under my credit limit.

It only went over after I was persuaded to take their Payment Protection Insurance - which Capital One wrongly advised would not be added if I paid the monthly balance in full - had I have known I would have left enough credit for this (75p i think) to be paid and I would not have gone 10p over.

PNPSUKNET

appeal in writting and they can listen to the call

Stephano

They did say they would make a note on the account.

Moggles_2

Stephano wrote: »

They did say they would make a note on the account.

I hope you noted the date, time and member(s) of staff concerned.

There's only a week to go now. Let us know how you get on
Very best
M

Stephano

Moggles wrote: »

I hope you noted the date, time and member(s) of staff concerned.

There's only a week to go now. Let us know how you get on
Very best
M

Yes I have all the details. Thanks for the support. I will let you know the outcome.