Capital One credit limit increases

InsuranceLiability

Capital One like most lenders have many products and many customers. Their views on lending and targetting specific customers will change sometimes weekly and at least monthly. A person applying for (and activating) a card product may get a completely different 'product' and tems and conditions than the same person would a month later.
In general the industry is now moving away from sub prime lending because of the costs of written off debts.

In general if you have a card that was aimed at a high risk customer and you still are considered to be a high risk customer you are unlikely to get a credit limit increase and you are going to find it harder to get a credit card in the future.
If you have a card aimed at low risk customers and you still are a low risk customer then let the good times roll because you are who the credit card companies need to keep hold of

damnit

I've had a Cap One Classic now for close to 18 months and have never been offered a credit limit increase.

I was given £500 on approval, and besides one late payment in the very 1st month (when didn't realise an internet banking transfer would take 5 days) i've paid on time every month, paid off the whole balance in the majority of months and never gone over my limit.

I've got a good credit rating, good income and small debts but still have not heard anything (although i've never asked).

I really beleive that i should of applied for a better card at the beginning as i didn't realise the market the classic card was aimed at.

But doesn't really matter as only use it on occasions. I think i may even cancel it at end of the month and see if they offer me improved terms when i call to do this.

PJHilder

The impression I'm getting is ditch the Classic card and reapply for a Platinum if you want a decent credit increase? Due to them considering you a bad credit risk just for having a Classic card.

jamalfatty

I've had one for over 2 years with a pathetic limit of £200, I put about £500-£600 on the account each month (making interim payments obviously!) and pay full statement balance each month, never been offered an increase which seems strange.
They can obviously see that I spend more than the limit each month, and always pay off in full so at moment are never ever going to make any money off me

[Deleted User]

My mother got a £200 Cap One card once and within 6 months was upgraded to Premier with a credit increase, then to Gold with another increase then finaly to Platinum with another increase all within 2 1/2 years. But the strange thing was, the interest rate never went down from the original high £200 classic card rate.