Capital One Credit Limits

Debt_Doll

Hi

I have had a Capital One card for a year now with a starting limit of £100 now they have been in touch with me today and said I should have had 2 credit limit increases by now but their computer seems to have overlooked me (I just thought I must be a rubbish customer but they say I am an excellent customer). Anyway they said they are going to send me a letter which I should get in about 5 days which I have to fill in and send back and they will then increase my limit

Does anyone have any idea what capital one's credit limit increases are like and how much I may go up to?

Thanks

fivefingers

mine went from £1500 to £2000 after 3 months. The terms may have been different when you signed up.

Apples2

Haven't you just got yourself out of a debt pickle??

The very last thing on this PLANET you want to do now is start piling up credit card debts.

Only EVER spend on your card an amount you can repay COMPLETELY at the end of the Month.

Raising Credit Limits has got more people in financial mayhem than anything else.

Monkeyballs

Yep, if you don't have a balance and you don't need the card then get rid.

Or, if you do need the card but don't need the increase then don't accept the increase and ask them to leave it at £100.

chook_2

Beleave me dont increese it what ever you do,
im in debit to capital one now, like you i started off with £100
then it jumped up and after a wile jumped up again,
actualy come to think of it, the last two times it incressed
i didnt sign anything or even get a letter to ask.
Anyway it ended up with me having a credit incresse of up to 3700
due to a few things happening and me having to use the card for emergencys, i got in over my head - at the time i could only pay
the minimum amount monthly, the intrest was topping that, at over 80 quid a month - i had to do something, so ended up going with a debit company and am now in default with capital one.

I have learned one lession though - will never have a credit card again, and certanaly will never go with capital one, my building socioty(sp) provides me with a card attached to me account and its so much easer, as i know if i dont have the money in my account, then i cant spend anything.

Clive_Woody

I have a cash back credit card with Capital One, I think my original limit was around £7k but has probably gone up in recent years. I pay off in full every month then at the end of the year I get 1% cash back. Last year they very kindly gave me over £150 plus I get free access to Experian credit reports. I can't fault Capital One, great customer service.

Debt_Doll

In reply to Apples yes I have just got myself out of debt but wasn't looking at my Capital One card to build up debt again I wanted it to improve my credit rating which would mean using £20 of it a month and paying back in full each month but even as I type that I can do that with a limit of £100 quite easily so when they send me the letter I shall just reply saying thanks but no thanks

Thank you also to everyone else who replied

Apples2

Good call Doll, don't give in to the temptation

Debt_Doll

Think I must be getting wiser as I get older Apples as I no longer deal with payday loans or brokers and I have actually started putting money in my savings accounts (nearly died of shock doing that:))

Anyway thank you for your advice

immoral_angeluk

Receipe for disaster if you ask me. Do you NEED the increase? Could you take advantage of a 0% BT offer if they do increase? If not it'll only end up with you thinking 'Oh, I can just stick this/that/the other on the credit card'. Sooner or later you're up to your limit again.