Finally Accepted!

Jack1888

I'm guessing that you have been accepted for the Classic Visa?

The maximum limit you could end up with is £1,500+. My mother had one years and years ago and she ended up with £2,800! It is very unlikely that you'll get more than £200 with Capital One.

please make sure you pay the card back as the apr can be very high on that card. However getting a credit card and paying it back is probably the best thing for your credit file

I am in total agreement with Cam here. The ARP is shocking but from what you say, you plan to clear the whole balance anyway so no prob!!

EllaBeagle

:T thats great news! I have been in a similar situation regarding my credit score and have worked really hard to get it sorted. I begged and pleaded with my catalogue company after I settled a default to give me my account back with a low credit amount so I can build it up and they agreed I´ve kept that up to date and my credit limit is now £1000.

My credit file is still in the red but I´ve made major improvements by contacting companies and asking really nicely to have settled defaults removed early. I had a letter yesterday from one company saying as a good will gesture they will do it and they have! Both of their settled defaults disappeared straight away so my file looks a bit tidier.

I also used to have a credit card with capital one which defaulted years ago and I settled it. They have declined me recently for a new credit card so I sent a letter of appeal explaining why it defaulted and that I´m now in a better position and wanting to improve my credit history, that I now know the impact missed payments have and that if they started me off on a low amount of credit I will show them that I can keep my account paid up to date.

I´m still waiting to hear back from them so with a bit of luck they will agree.

Jack1888

Good luck on the appeal EllaBeagle

I never ever thought about appealing a decline :P

catalepticstate

Hi Jack,
I plan to pay anything I use off the card straight away. Like I said my employer gives me a cheque when I get back from my work related travels.

Its just a shame, I could not have a credit card when I started this job, I would have built up a lot of savings and now be in a better position.

I get over £1,500 coming into my account would that be enough to get the higher end limit?

Ella, thats great letters and asking nicely helped you to get your record cleared.

Its unfortunate that not everyone is successful with asking nicely, I tried once with O2 but they were not insterested.

Its a shame anyone has to use credit cards, the cost of living is way too much these days.

catalepticstate

My Pin came today

Jack1888

Wow!

You may be once of these lucky ones that are able to get £500 straight away, it all goes on credit score and application.

I get over £1,500 coming into my account would that be enough to get the higher end limit?

I'm not 100% about that, £18,000+ is a lot of lolly and I know that most standard cards require £10k + pa so on that basis, I would think you qualify. However every lender seeks different lending criteria, it doesn't only fall on your income. I got declined 5 times in 3 years before I was accepted for a Barclaycard whereas Vanquis took me straight away.

It's a weird world the credit world

catalepticstate

Jack1888 wrote: »

Wow!

You may be once of these lucky ones that are able to get £500 straight away, it all goes on credit score and application.



I'm not 100% about that, £18,000+ is a lot of lolly and I know that most standard cards require £10k + pa so on that basis, I would think you qualify. However every lender seeks different lending criteria, it doesn't only fall on your income. I got declined 5 times in 3 years before I was accepted for a Barclaycard whereas Vanquis took me straight away.

It's a weird world the credit world

haha, yes it is weird.

Snowedunder

I too got accepted for the 'balance transfer' Cap 1 card, I applied for a £1000 balance transfer, and was accepted after that. However, when the card came through £200 limit, so not quite the 'life saver' it has been hailed as!!

I have never missed a payment on my current CC, and always pay more than the minimum payment, but thought I would save some interest in paying off the £1000 in 6 months.

I actually have no need of a high APR Credit Card, but was trying to be prudent as suggested on this site whilst 'singing the praises' of the CAP 1 card!. IMHO not all it is cracked up to be, but then Cap 1 is Cap 1 silly to think it would change its' spots!! All well and good to offer this 'great card' through this site, but no point if it does not live up to its' claims.

Anyway, could I 'balance transfer' £200 a month to Cap 1 then pay it off each month so no interest is applied, or does it have to be a full balance and as a one off?

catalepticstate

Its here!!!!!

catalepticstate

When I activated my card, I was told over the telephone that there were tips on how to repair my credit and how to get a higher limit on the CapOne website, but I cant find anything.

Has anyone got a link?