Capital One have increased me !

TastyTeeth

DanielD2008 wrote: »

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

I only pay the minimum each month.

Then all I can say is there is no logical reason why some get a limit raise and some don't.

TastyTeeth

Pinkruth wrote: »

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...

Apologies Pinkruth. I may have been wrong with my reasoning behind limit raises. See DanielD's post. _pale_

Silvafox

Well, I didn't get one. I have an almost perfect credit history now - with some very old historic data hanging on. I pay the card off in full some months and leave a balance on it on other months. I pay by direct debit and don't take cash advances. Why people do or don't get credit increases is a pure mystery with Cap1. My limit is still stuck at £300 on a Progress card. Ah well!

hayton2k3

Was the letter with a statement or a seperate letter when statement was not due?
I am another of last years customers but had nothing. Not like i expected anything having read about them before i applied.

TastyTeeth

hayton2k3 wrote: »

Was the letter with a statement or a seperate letter when statement was not due?
I am another of last years customers but had nothing. Not like i expected anything having read about them before i applied.

Separate letter, but it arrived around the time my new estatement was being generated.

chexum

Silvafox wrote: »

Well, I didn't get one. I have an almost perfect credit history now - with some very old historic data hanging on. I pay the card off in full some months and leave a balance on it on other months. I pay by direct debit and don't take cash advances. Why people do or don't get credit increases is a pure mystery with Cap1. My limit is still stuck at £300 on a Progress card. Ah well!

Well, it's probably pure maths, not mystery The thing is, that old history data you mention is still part of the credit history that they may be considering. Patience always help to demonstrate stability, if you qualified for a Progress, the rest of the history must not be as bad otherwise.

Unfortunately, not all parts of the credit history is as easy to influence as paying on time - just like with insurance, your address plays an important to determine the risk of lending to you.

As an extreme, and unrealistic example, if the credit card companies realise that someone with an S in their initials has a higher chance of defaulting, they will be less at risk if they don't increase the limits of those people. It doesn't need to make sense - if it historically "proven", that's enough for them, they don't need to understand why it's been that way.

Locana

I have had mine since 2004, started at 200, then increased to 600 a few months later. Then thats it since 2004. No bad credit, no late payements etc! I dont think they like me... ;-( lol

fishingcinema

Started off with the c1 classic card as my first credit card with a limit of £100 in 2008
then gradualy they built it up to £1100

I used to buy things on it and go pay it off almost straight away via my bank.

Then i slipped and got near to my credit limit and was paying a fair bit of interest so did a bt to my barclay card almost as soon as i did that c1 raised my limit to £2100

Pinkruth

TastyTeeth wrote: »

Apologies Pinkruth. I may have been wrong with my reasoning behind limit raises. See DanielD's post. _pale_

No problem. Cap1 seem to be a mystical force who pick names out of a hat I think! lol.

Gus1855

I was told mine was going to go up today, but has not so far. Not overly fussed, but I am away travelling for the next week and had planned to use it for my hire car deposit...which I previously was not able to do with my exisiting limit.

Has anyone had thiers go up today as planned?