Capital One credit limit increase.

j_bar1983

Hi guys I currently have a Capital One Classic credit card with the bog standard £200 credit limit. I was wondering if anyone here could tell me the citeria they use to increase someones credit limit.

Many Thanks in advance.

BugsyBrowne

j_bar1983 wrote: »

Hi guys I currently have a Capital One Classic credit card with the bog standard £200 credit limit. I was wondering if anyone here could tell me the citeria they use to increase someones credit limit.

Many Thanks in advance.

Remember the cap1 classic is a credit building card so limit increase's don't happen like they would on a prime card.

I had the cap 1 classic and it took me just over 2 years to get a limit of just £1500,some people also still have £200 limit which they have held for 2 years,so don't get your hopes up..

Silvafox

Yeh, I've got excellent credit compared to three years ago when I took out a Cap1 Classic and when I closed it recently - it was still on £200 limit and it was ran faultlessly.

Don't believe anything about automatic increases on the 4th bill etc... it simply doesn't happen anymore.

Parki_2

I had an increase on the 4th from £1000 to £1500 then on the 12th from £1500 to £1800. Seems that Vanquis are more generous with their increases.

Cane

I've had my Capital One classic card for about 3 years now. The intial limit was £400. I used it for around 6 months (spending around 250 of the limit and sometimes paying around £80 off and sometimes clearing in full) and got an automatic increase up to £800.

I then always made a purchase with the card every few months and again cleared it (again, sometimes part of the balance and sometimes in full). This lead to an automatic increase to £1200 after another 12 months usage like this.

I then used the card for around 6 months spending around £1000 on the card and paying in full when payment was due. This lead to an automatic increase to £2400.

I did recieve a letter around november 2009 saying my interest was going to increase from 34.9% to 39.9% in january 2010. But the interest has stayed at 34.9% probably because I always pay in full.

Its-A-New-Age-Thing

Silvafox wrote: »

Yeh, I've got excellent credit compared to three years ago when I took out a Cap1 Classic and when I closed it recently - it was still on £200 limit and it was ran faultlessly.

Don't believe anything about automatic increases on the 4th bill etc... it simply doesn't happen anymore.

does with the cap1 progression on ure 4th bill if its used not the classic.

Silvafox

Its-A-New-Age-Thing wrote: »

does with the cap1 progression on ure 4th bill if its used not the classic.

Oh right, is that definite? When I spoke to someone about it they never mentioned that another card they did had automatic increases. In fact, two people categorically said they don't do the automatic increases anymore as a whole.

BugsyBrowne

Silvafox wrote: »

Oh right, is that definite? When I spoke to someone about it they never mentioned that another card they did had automatic increases. In fact, two people categorically said they don't do the automatic increases anymore as a whole.

Remember capital one same with other companies will only increase limits when they checked your credit report first,so if they think you have say maxed out all your other cards,or maybe a late payment they will not give a limit increase.

Silvafox

star-fire wrote: »

Remember capital one same with other companies will only increase limits when they checked your credit report first,so if they think you have say maxed out all your other cards,or maybe a late payment they will not give a limit increase.

That's good to know too thanks, and I for one wouldn't want a search every four months, so will stay credit card free I think!

Its-A-New-Age-Thing

Silvafox wrote: »

Oh right, is that definite? When I spoke to someone about it they never mentioned that another card they did had automatic increases. In fact, two people categorically said they don't do the automatic increases anymore as a whole.

mines went from £300 to £800 on statement 4 i kept my balance at a minumum of £280 each month paid a £10 minimum payment and had no direct debit set up for it

Its-A-New-Age-Thing

star-fire wrote: »

Remember capital one same with other companies will only increase limits when they checked your credit report first,so if they think you have say maxed out all your other cards,or maybe a late payment they will not give a limit increase.

i maxed out ALL my credit cards and got an increase from aqua and cap1 progression