Capital One have increased me !

Gus1855

Mine went up today too, from £200 to £1700. Some jump eh?

Is it random, or are the jumps relative to your credit history improving?

TastyTeeth

Gus1855 wrote: »

Mine went up today too, from £200 to £1700. Some jump eh?

Is it random, or are the jumps relative to your credit history improving?

7.5x jump on your original limit. Wow, that's some going.

I'd like to think its associated with an improvement in credit history given my 5x jump yesterday. Loads of greens and sensible with how I use each balance.

However there are many more people around these parts who are more than qualified to answer the question than I am.........

Silvafox

I hope I finally get one too! I have been with them for years now and never have had anything - and my credit files are almost faultless too.

Fingers crossed!

wizzywig27

I have not had a latter as of yet, but who knows what Mr Postman may have brought me today :-)

Had it since August 2010, always paid more than minimum, but always hover close to credit limit (£200) so I wont hold my breath!

planteria

from what i gather they Always increase it out of the blue. you can't ask. they just do it automatically. i'm doing me best to get them to increase my limit.

too_much_debt

I have a Capital One credit card, I paid it off back in April last year but did not close it. I was going to close it down as I have 5 other credit cards which I'm paying off. I rang them up to ask if they had any balance transfer offers (expecting them to say no) so was going to then ask to cancel it but they offered me 0% for 15 months with a 3% fee. I only have a credit limit of £1200 so was able to transfer £1,067 so was happy with that, am glad I called to ask now.

Haven't had anything about a credit limit increase though.

Pinkruth

Ive been with C1 since August last year, so 7 months now. Initial limit of £200, used about £170 and only able to pay the minimum each month. No offers of an increase though. They seem to offer people increases when they don't use the card. May sound a daft question, but surely they don't make any money out of people who pay their card off each month and dont have a balance to charge interest on. Maybe Im blonde and missing the point.

As you can tell Ive not been offered an increase even though I pay every month without fail :0)

TastyTeeth

Pinkruth wrote: »

Ive been with C1 since August last year, so 7 months now. Initial limit of £200, used about £170 and only able to pay the minimum each month. No offers of an increase though. They seem to offer people increases when they don't use the card. May sound a daft question, but surely they don't make any money out of people who pay their card off each month and dont have a balance to charge interest on. Maybe Im blonde and missing the point.

As you can tell Ive not been offered an increase even though I pay every month without fail :0)

Although I pay off the balance monthly, C1 still make money out of me as every time I use the card they get a fee. I tend to use the card at least a dozen times a month on average on shopping/petrol, so they must make some money of the back of that.

To be fair, you've run the card up to £170 (of a £200 limit) and you're only paying the minimum each month. Whilst they're making money through the interest, to raise your limit further might only invite you to run close to the new limit and still only pay the minimum. Not the most responsible lending criteria really.

In my opinion, to get your limit increased, try paying the card off and then running a smaller balance each month. Ideally try and clear the balance as often as possible also.

Pinkruth

TastyTeeth wrote: »

Although I pay off the balance monthly, C1 still make money out of me as every time I use the card they get a fee. I tend to use the card at least a dozen times a month on average on shopping/petrol, so they must make some money of the back of that.

To be fair, you've run the card up to £170 (of a £200 limit) and you're only paying the minimum each month. Whilst they're making money through the interest, to raise your limit further might only invite you to run close to the new limit and still only pay the minimum. Not the most responsible lending criteria really.

In my opinion, to get your limit increased, try paying the card off and then running a smaller balance each month. Ideally try and clear the balance as often as possible also.

Ahhhh thank you, I see your point. I was under the wrong impression about credit improvement. I thought regularly using the card and paying at least the minimum each month was what they would be looking for. I used the card and then paid it off a couple of months after I had it. Ive also paid more then the minimum then I have the minimum, if that makes sense. Need to re-think I think!

Told you.... blonde...

DanielD2008

My limit was £200,with available to spend at less than £10.

I only pay the minimum each month.