Capital One Credit Increase?!

NatalieC87

Hello....

I was wondering if anyone knows when Capital One increase credit limits?
I have had 4 Statements raised and paid 3 statements so far and always pay the balance in full every month by Direct debit. (the 4th one does not come out by direct debit until next month)

Thanks in advance x

ehlo

Hi.
Welcome to MSE.

From what I'd read here when people said "you get an increase on 4th statement" I assumed this meant the increase was sent with the statement. However the increase letter is sent separately (mine came before the DD but after the statement).
There will be another month before the increase comes into effect though, if they give you one

SnowTiger

ehlo wrote: »

From what I'd read here when people said "you get an increase on 4th statement" I assumed this meant the increase was sent with the statement.

I think Capital One abandoned their promise to automatically increase limits after the first four months on accounts handled satisfactory.

tigerlily44

NatalieC87 wrote: »

Hello....

I was wondering if anyone knows when Capital One increase credit limits?
I have had 4 Statements raised and paid 3 statements so far and always pay the balance in full every month by Direct debit. (the 4th one does not come out by direct debit until next month)

Thanks in advance x

I've had mine for 6 months (onto statement number 5) and they've not increased mine, I don't think there's such a thing as an automatic increase anymore - and I'm the same as you pay the full amount by direct debit each month.

tiger

James129

Nearly 10 months since I have held cap1 progress with no increase yet. And like everybody else, have always paid in full.

m00m00

8 years with cap 1 platinum, no increase (or decrease)

flammable999

m00m00 wrote: »

8 years with cap 1 platinum, no increase (or decrease)

if you have got a classic, you might as well apply for a progress. i had a classic which was stuck on £700 for 8 years. applied for a progress few weeks ago and got accepted with limit of £2500! you dont even have to close the first one down first.

donnap83

I've had a Cap 1 card for 5 months and got a £500 increase. Never used the card until this week. Will be paying the balance in full then I won't be using it again, got a card with a better APR

m00m00

flammable999 wrote: »

if you have got a classic, you might as well apply for a progress. i had a classic which was stuck on £700 for 8 years. applied for a progress few weeks ago and got accepted with limit of £2500! you dont even have to close the first one down first.

platinum

ie, prime card lower apr than the progress would ever get to

flammable999

m00m00 wrote: »

platinum

ie, prime card lower apr than the progress would ever get to

fair enough but both my capital one 'classic' and 'progress' cards have platinum on them and look identical

m00m00

flammable999 wrote: »

fair enough but both my capital one 'classic' and 'progress' cards have platinum on them and look identical

14.4% apr


I had a classic card about 12 years ago, and they made me close it when I applied for the platinum which required a minimum salary level ( think it was 10k in 2002)