Capital One Classic Credit Limit

wullieb1

Looking for a bit of help.

I have had a Capital One Classic Card since April 2005. My credit limit is £200 and i also paid the £200 deposit.

I have never missed a payment or been late with a payment. I have a direct debit setup to take the minimum payment from my bank account. I have a current balance of £23.

I cannot get a credit limit from them. I have asked and been told that it gets reviewed and if i qualify i will be advised by letter.

Bit of background on me.

I was declared bankrupt in April 2001. I was subsequently discharged in April 2004. I obviously still have defaults and a CCJ from the bankruptcy until next year.

Can anyone advise if there is anything i can do??

Rafter

Gonna be a case of 'computer says no' I'm afraid.

Despite the fact you are managing your card ok the fact you have a bankrupcy on your file is going to make life tough.

Why do you need a higher limit? Could you use a prepaid card instead?

R.

wullieb1

Rafter wrote:

Gonna be a case of 'computer says no' I'm afraid.

Despite the fact you are managing your card ok the fact you have a bankrupcy on your file is going to make life tough.

Why do you need a higher limit? Could you use a prepaid card instead?

R.

I want to use the card for business purposes and £200 ain't alot in the grand scheme of things.

I'm usually only away for a week at a time and would benefit from having a bigger limit "just incase"

sofa_surfer wrote:

Maybe try to call their CS and make them apply the statement that I recently saw on their website - someting along the lines 'manage your card as a good citizen and we will increase your limit with your fourth statement'?

I'll give that a try.

jojo1978_3

sofa_surfer wrote:

Maybe try to call their CS and make them apply the statement that I recently saw on their website - someting along the lines 'manage your card as a good citizen and we will increase your limit with your fourth statement'?

Think you'll find thats a different card on their website, the card the op is talking about is the guaranteed card-so called because you are guaranteed to get it despite credit history-BUT you have to pay a deposit

jojo1978_3

grown_up_girlie wrote:

I may be stupid here (), but what is this £200 deposit about?

I have just been given this exact card along with a £200 credit limit and nothing has been mentioned to me about paying a deposit?

It was a card that they used to offer (not anymore) it was for people with very bad or no credit history, so when they were being declined for that reason with other companies, they would have been accepted for this card, but because of the risk would have to pay between £49-£200 deposit. It was called the guaranteed card.

Fahim_2

Same story with me, CapitalOne Classic VISA @ £200. Never missed a payments, active direct debit but whenever i ask them for upgrade or limit increase, they keep telling me it will be reviewed.

Switch

Same here, I have had the Capital One Credit Card with a 200 limit and I also had to give Capital One a 200 deposit as well.

I have had my card since April 2005, and the reason I went for this card was to help improve my credit history which has without doubt helped.

I run the card up every month on purpose to the 200 limit and pay the card off in full every month as soon as my statement arrives, never missed a month yet.

I have never asked or been offered an increase, I did however ask Capital One if I could deposit a further 800 with them so that my credit limit could be increased to 1000 but they said no to that even though they would hold a 1000 of my money as security.

richessex

i have posted on this before
but an update
i had one of these cards run if perfectly for a year
cancelled the card and got my security deposit back
as the chap at capital one said i could apply for a normal classic card

did all
this
and was refused

wrote and appealed
my credit rating no worse than last year
in fact better

got the letter this morning still wont give me a card

complete waste of a year

wullieb1

richessex wrote:

i have posted on this before
but an update
i had one of these cards run if perfectly for a year
cancelled the card and got my security deposit back
as the chap at capital one said i could apply for a normal classic card

did all
this
and was refused

wrote and appealed
my credit rating no worse than last year
in fact better

got the letter this morning still wont give me a card

complete waste of a year

I'm going to hang on to it for the time being, at least until i can get another card, then ask for an increase.

No increase, no customer.

intreast

dont u know capitial one gives c cards tp people who have very bad cr history in deed where a nother would not touch people with bad history the reason there apr is high is because your classed as high risk i had a limit of 6000 punds 7 yr ago spend it and moved to down south did not give then a forwarding address 7 yr now cap one are a joke

wullieb1

intreast wrote:

dont u know capitial one gives c cards tp people who have very bad cr history in deed where a nother would not touch people with bad history the reason there apr is high is because your classed as high risk i had a limit of 6000 punds 7 yr ago spend it and moved to down south did not give then a forwarding address 7 yr now cap one are a joke

What are you on about??

How is this helpful??