Capital One Question !

Chrisblue1962

[FONT=&quot]Received PIN for Capital One card! I suppose this means they’re going to issue me a card! Not sure what “strings” [/FONT][FONT=&quot]if any will apply [/FONT][FONT=&quot]or what credit limit or APR will apply either.
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boogiemaster

I applied for a Capital once classic and was accepted and given a £500 even though I have a default from Capital one but sold to Lowell that will be six years old in July.

My wife has to pay £99 to get a £200 limit but they said its because her credit score is low but she has only seven months of catalogue history and a Capital one default sold to Lowell and is six years old in October.

Chrisblue1962

Update:

Got my Capital One card this morning, credit limit of £750.00, no security deposit required at all !!!

APR is considerably lower than my Vanquis, so I'll be doing a "poor man's" credit transfer by putting cash purchases on the Capital One card and then use the money to pay off the Vanquis card.

bubbles2012_2

Hi guys,

So I was declined for a capital on unsecured card, but given the invite to apply for a secured card, Which I did... They sent me a letter asking for proof of date of birth, so I sent them my driving licence, which I received back to me yesterday.

Today I received the email saying that I needed to pay a £200 security sum, Which I will do... My only question is, does anyone know if it is possible to raise the credit limit by raising the security sum?

There are many posts through Google where people in America, Some even incresing their sum to the max of £3000 over a few months.... I am purely trying to build my credit after destroying it in my younger years and not realising its imprtance.... Has anyone any info on this, I am not sure if the laws are the same for Capital One in the UK!

Appreciate any help, thank you xx

MrSilk

bubbles2012 wrote: »

Hi guys,

So I was declined for a capital on unsecured card, but given the invite to apply for a secured card, Which I did... They sent me a letter asking for proof of date of birth, so I sent them my driving licence, which I received back to me yesterday.

Today I received the email saying that I needed to pay a £200 security sum, Which I will do... My only question is, does anyone know if it is possible to raise the credit limit by raising the security sum?

There are many posts through Google where people in America, Some even incresing their sum to the max of £3000 over a few months.... I am purely trying to build my credit after destroying it in my younger years and not realising its imprtance.... Has anyone any info on this, I am not sure if the laws are the same for Capital One in the UK!

Appreciate any help, thank you xx

Hi Bubbles,

Unfortunately you do not receive any limit increases on the Capital one 'Secured Credit Card', they are known in small cases to return your security deposit by check and convert your account to an 'Unsecured' account, depending on your repayment history.

After you have had the card for 6 months, again, depending if you have good repayment history; you could be eligible for their 'progress' card, which carries a slightly better APR, with the possibility of shrinking your APR to a lower 17.9%. Although you would under go an additional credit check. the maximum credit limit for the 'Progress' card is £1,200.

My advice to anyone who is wanting to migrate from the 'Secured' card to the 'Progress' would be to nurture their credit record and use the secured card responsibly for around 6 - 12 months.

Hope this helps.

Marcus846

Hi,

First time post here so please bear with me.

I have the Capital one secured card and have had it for about 9 months, I have always paid in full and on time.

I wanted to get an increase to make my report look better but i have read that they don't do that on that card.

I sent Capital one a message asking about applying for a Classic card and was told that i could but not to close my secured one.

Now i know you can have the progress card when you already have a different card with them but when i applied for the Classic it said you can apply so long you don't already have a account with us.

So i didn't get declined but i also didn't get accepted i got the 3 green ticks and the electronically signed form.

Does anyone have a secured and a classic card or is it Capital One giving me false information?

Cheers