Capital One Classic 1% cashback question?

funnyguy

Has anyone applied for this?If so I wondered what credit limit they offered you? As my existing card offers me £8500 and I want to buy a car soon for £7000,so the 1% seems quite appealing to me as I always clear card off monthly[..but on the application form there is nowhere to state how much credit you want..

chexum

Uh, the Classic is for people who are new to managing credit, although there are reports that it can go a bit higher, this is what they say now:

Credit limit
Minimum credit limit
£200
Maximum credit limit
£1,500

Also - car sellers generally add card costs to the price, *if* they accept cards. For credit cards, 2-3% on top of the original price is not uncommon. So your plan has a few holes