Capital One Progress

wizzywig27

Hi all

I am corrently a Capital One Classic customer, have never missed a payment, had the same £00 limit now for 18 months. Anyway I was browsing their website tonight and noticed I could apply for additional products, to which I did...

I didnt want to push my luck so I applied for a Progress card, question is, has anyone sucessfuly managed to apply for a Progress card when they have the Classic? If so do they close your old card? do they transfer the balance?

One last thing, I got all green ticks, now I know this could mean anything, but again, does anyone know if this is a good sign? any help would be appreciated.

Thanks

Wizzy

stclair

I understand if you have a cap one classic you can also have a cap one progress card aswell now.

wizzywig27

oh, do they work side by side? so two different credit limits? I am taking it you cant BT?

stclair

wizzywig27 wrote: »

oh, do they work side by side? so two different credit limits? I am taking it you cant BT?

Yeah you get two separate credit limits im not sure about the BT though. However im sure someone more knowledge than me will come along soon.

hadahardyear

i have a capital one classic and a progress, Both have £200 limits. I just run them side by side, i havent tried a balance transfer to be honest,
x

wizzywig27

thanks hard year, just noticed your sig, you got a vanquis too, mine is £2500 limit, and what I pay each month is barely touching the side :-(

skintdad

wizzywig27 wrote: »

thanks hard year, just noticed your sig, you got a vanquis too, mine is £2500 limit, and what I pay each month is barely touching the side :-(

if you carry balances then don't apply for another card. these are meant as a way of building a credit history and not to be used as a way of borrowing long term. if you can't repay what you already owe then you will make the situation worse by borrowing more money

callum9999

skintdad wrote: »

if you carry balances then don't apply for another card. these are meant as a way of building a credit history and not to be used as a way of borrowing long term. if you can't repay what you already owe then you will make the situation worse by borrowing more money

It sounds more like they are trying to find a cheaper card to balance transfer to than get into more debt.

If they have a Vanquis card, I assume they'd struggle to get any better than a Capital One Progress, but even that is a big step up. My old Vanquis was something like 69.9% APR and Progress is less than half of that.

Though if that was their intention then yeah you're right (and I'd go one step further and say if they intend to increase borrowing on these sorts of cards - excluding desperate emergencies - then they really shouldn't be trusted with them in the first place!).

wizzywig27

Thanks for the two previous messages, but can I just clarify I came on here for advice, not lectures! I am old enough and wise enough to make my own decisions! And who are you to say what I can and can't afford?!

This board had gone downhill, people jumping on posts without knowing the facts! If I want a lecture I will speak to the parents, if I want advice I'll certainly keep my mouth shut on here!

Just for the record I said my limit was £2500, not the balance!

One last time, what I do is no concern of yours!!

callum9999

wizzywig27 wrote: »

Thanks for the two previous messages, but can I just clarify I came on here for advice, not lectures! I am old enough and wise enough to make my own decisions! And who are you to say what I can and can't afford?!

This board had gone downhill, people jumping on posts without knowing the facts! If I want a lecture I will speak to the parents, if I want advice I'll certainly keep my mouth shut on here!

Just for the record I said my limit was £2500, not the balance!

One last time, what I do is no concern of yours!!

And that's what you got... It has absolutely nothing to do with what you can or can't afford and I think the issue is more about the people seeking advice getting more demanding. There was no "lecturing", just a couple of lines of advice on a related bit of your finances, which you were perfectly free to ignore if you wanted to.

And no-one said your balance was £2500, but if your monthly payments are "barely touching the side", then surely it's a rather substantial amount considering the extortionate APR on it? As I said, you were completely free to ignore it if you're feeling particularly touchy, but don't ask for advice then moan because people offer advice on other relevant areas as well...

wizzywig27

I didn't ask for advice on whether I should or shouldn't be applying, I asked for advice on the card in question! I don't go to a mortgage advisor and he suggests a new jacket or car does he!