Capital One Platinum Credit Increase?

archiesgirl

Hi, I've just got a Capital One Platinum Credit Card with a limit of £200. The only reason I applied for a card is because I need to pay for a family holiday by March next year but it needs to be paid in full. Anyway, the point is that I need a £500 credit limit to cover it. Do I need to use the card in order to get an increase? (I haven't used it yet.) Has anyone been offered an increase within 3 months? Any advice gratefully recieved. Thanks.

James129

Don't think they do platinum card. They only offer Classic, Progress, One Rate and World mastercard.

My first ever credit card was capital one progress card which I recieved in August 2010. I don't know about other cards, but for progress card, they review and increate the limit after 4th statements. I'll be getting my 4th statement on 20th November so I'll be able to tell what sort of increase I get. Ps, apr will be shrinked by 4-5% on top of that.

Since you only got £200 as a starting limit, I'd wager you've got a classic or maybe progress card. If its a Visa then it Classic otherwise it is progress card which uses Mastercard.

archiesgirl

Thanks. It must be the progress card then. Platinum must be the style of the card! Ha, what an idiot!!

James129

Just out of curiosity, what apr did you get? Mine was 30.4%.

archiesgirl

I got 29.4%.

LauraLeah91104

would it not have been easier to try your bank for a loan? may have better offers and a lower apr. have a chat with someone at ure bank before using the card. esp if u r not planning on paying off the balance immediately, atleast with a loan the repayments will always be the same

archiesgirl

Hi, I did apply to my bank for a credit card but not a loan, they declined. I applied for this credit card because it came up as a suitable card for my credit score on the experian website.