Capital One have increased me !

DanielD2008

I receive a letter in the post today from Capital One and they have increased my limit from £200 up to £800 !

Considering that they rarely increase limits I am shocked that its been raised so much ! :j Maybe double to £400,but to raise it 4 times... !

It says that the increase will happen on the 30th March.

Does anyone know if they will increase it immedietly if asked ? I think they give notice so you can warn them that you dont want it increased ?

TastyTeeth

Same here today :j :j :j

From £300 to £1200 :eek:

It's fair to say I was shocked. Not like C1 to increase to that amount.

I'd let things lie and wait until the increase kicks in...that's what I'm doing.

Bamboozled1_2

I'm with cap1 too. I too had a letter today saying they're upping my limit at the end of march.
I started with them a few years ago and they have seemed to up my limit twice a yr. In the beggining when they first upped me from £200 to £600 I recall ringing them for an explanation and they upped it pretty much there and then. This was a few yrs ago now tho so wether or not its still the same, I don't know.
I'd give them a call and see if they can increase before end of March, the worst they can do is say no.

Good luck with it!

[Deleted User]

Yes - you can get the increase immediately if you call. It's certainly the case with other lenders, so hopefully the same with Cap 1.

rtho782

Stupid new rules mean that they can't just up your limit without notice, these are the same rules that mean they have to repay the most expensive debt first tho so it's not all bad.

Very annoying having to wait!!

The_Matelot

Mmmm no such luck. Same 600 limit for over a year. Wonder if they will increase mine? Dont know if im overly fussed now i have a good card and limit with natwest

chexum

TastyTeeth wrote: »

It's fair to say I was shocked. Not like C1 to increase to that amount.

You mean not like C1 to increase when you need it

By the way, it looks like the maximum they advertise (£1,500) is only the initial maximum, as they can go higher, even for the classic. Do resist carrying a balance though

Cell

Barclaycard have just upped my wife's credit limit by £1,000, just two days after putting her interest rate UP from 22.9% to 26.9%:eek:.

Go figure!

DanielD2008

Phoned them...and it will be done automatically on the stated date because they dont have the facilities to do it manually. :mad:

TastyTeeth

chexum wrote: »

You mean not like C1 to increase when you need it

By the way, it looks like the maximum they advertise (£1,500) is only the initial maximum, as they can go higher, even for the classic. Do resist carrying a balance though

Always. Cleared monthly regardless of limit. I'll only put on the card what I can afford to pay off - whether a £300 or £1200 limit. At least I don't have to worry about going 12p overlimit now for getting a bit close to £300.

fozmcfc

Well done to those who got increased limit.

As for the point of not getting it straight away and the new rules. The rules can also work to peoples advantages as an increase could lead to not being able to get credit elsewhere.

That is because with the new limit amount, the amount of credit available to you compared to your annual income may take you over the threshold for other lenders, therefore you might not want to accept the increase.

Previously it could be a while between the increase being applied and the customer being informed and in the meantime the customer could apply for credit elsewhere and be refused on the basis of the increased limit.

For instance my credit card was increased and I only noticed it online and it tooks weeks before I got a letter informing of it.