capital one classic credit limit increases

Chrysalis

Has anyone else apart from me had their limit increased.

Some may remember a discussion on the long thread I had with someone regarding my limit, he claimed on the classic its impossible for the limit to go up from its starting rate, today I got another letter with yet another increase from 2 june from 3100 to 4000. My actual balance remains low but I do use the card every month and pay it off in full or almost full.

here is a page showing pictures of their cards.

http://www.capitalone.co.uk/creditcards/credit-card-range.jsf

note only the classic is visa (mine is visa) and note the purple colour on the design at the left of the card, mine is same design. The limit was £200 when I first got the card.

Capital one also confirmed to me on the phone I have the classic.

Incidently I did try to transfer to a lower rate card but they wouldnt let me. Apparently my rating with them is good enough for a 4k limit but not a lower rate card.

jonjamie1970

My Classic credit limit was raised to £2600 last year, I politely asked them to take it back down again.

m00m00

I've had a 'platinum' cap1 card since 2003

never had a single credit increase, (don't want, or need one) from a relatively low initial limit (sub 1000)

no missed payments, no over limit, paid in full most months since 2007, not before.

There is simply no logic to Cap 1 credit limit increases

izools

Chrysalis don't bother asking them about lower rate cards over the phone they're useless to speak to.

You are eligible to apply for the Capital One Progress card and hold it along side the Classic card, as long as your credit files with Experian and Equifax aren't totally messed up - they approved me for a Progress in October with a discharged bankruptcy on my credit file, so...

I suggest applying for progress and see what they come back with.

Limits people have been offered with Progress range from #300.00 to #2,500.00

They will start you on 29.9% APR and drop this by 2% APR every two months for three years at which point it will be 17.9% APR.

Good luck! :beer:

IceCreamDreams

izools, how long did you hold a classic card for before applying for a progress card?

izools

I didn't... just read from other posts about people who hold Classic cards who were approved for the Progress

IceCreamDreams

Ha haaaa:rotfl:

...Oki doki izools!

izools

Yea, here:

https://forums.moneysavingexpert.com/discussion/3168322
https://forums.moneysavingexpert.com/discussion/3127358
https://forums.moneysavingexpert.com/discussion/3126804

Seems if you hold a Classic card and have done for 6+ months you're eligible to apply for Progress but not vice versa.

IceCreamDreams

Thank You for posting those links - was hoping that you had some personal experience with it too, but that's okay - invaluable advice all the same!

Cheers :beer:

jon_boy75

I've had a Capital One Classic for about a year (£1,400 limit today), then got the progress too, £500 limit. Card not arrived yet, but I like the decreasing APR

ratts

ive held a classic for a year now... started off at 300 limit, after 4 months it went up to 800, just had a letter saying limit will go up to 1800 from the 1st of june.....

i also just got my progress card with a 1000 limit.....

activated it yesturday..