Changes to Capital One ( May be what you have been waiting for )

hadahardyear · 6 March 2012 at 10:23PM

littleladybird wrote: »

Hadabadyear I got that message too - applied on Friday evening and not heard anything yet. Mind you I've not received a bit fat no so fingers crossed...!!!

llb

see the fact i signed the agreement is making me hopeful. The balance is a new card isn't it? is it better or worse than the progress x

littleladybird · 7 March 2012 at 8:37PM

I've absolutely no idea if it's a new one or not but as I'm tentatively trying to improve my credit rating I hadn't considered it until Martin's email.

I currently have a basic Cap one card which originally had a £500 limit (current balance £100) and they wrote to me a couple of weeks ago offering an increase to 1k so I reckon I'm doing something right!!

Just to clarify I've absolutely no intention of making use of this 'offer' as the apr is ridiculously high but felt quite chuffed to be offered it :rotfl:

No word re balance transfer card yet tho'

llb

hadahardyear · 7 March 2012 at 8:38PM

i called them and they said my application was cancelled as i already hold the classic card and this card is the same thing except with a balance transfer offer so they couldnt offer it to me

littleladybird · 7 March 2012 at 9:01PM

Just checked my paperwork and the recent letter I received but it doesn't actually state exactly which card it is that I have.

All I know is that it's probably the most basic one available!

I reckon I'll probably get the same response as you then - oh well....

I really wanted this card too as my only other card has an outstanding balance of £600 and I want to clear it off as soon as possible.

This one is a basic barclaycard one with, again, a very high rate.

Will just have to wait for the 'no' letter I suppose...:(

llb

glawster_2 · 8 March 2012 at 3:14PM

hadahardyear wrote: »

ive just applied for the balance card and got 3 green ticks and to sign the agreement, then got a message saying they would be in touch, does this look good?

"One of our team will now perform additional checks, which typically take 7 working days. In a small number of cases we may need more information to complete your application - if so, we'll write and let you know.

If your application is successful, we'll be sending you your Card as soon as possible. Your PIN number will be posted to you separately."

Generally if you've got to the point of being offered the credit agreement (3 green ticks in Cap One's case) and you've signed it you've got it. They MAY ask for additional documentation (P60, payslips or similar) but they MAY not and just send you the card.

ps10006 · 8 March 2012 at 3:26PM

This is interesting reading. iv had my cap1 classic card for 14months now, never missed a payment or anything and they gave me a credit increase after 4 months. What are my chances of getting accepted for the progress card? and if i apply do they credit check me or just check how iv ran their account?

loony2012 · 8 March 2012 at 4:00PM

glawster wrote: »

Generally if you've got to the point of being offered the credit agreement (3 green ticks in Cap One's case) and you've signed it you've got it. They MAY ask for additional documentation (P60, payslips or similar) but they MAY not and just send you the card.

And how many time have i myself seen posts of 3 green ticks and people denied? Your post is based on your thoughts and not proof/facts.

hadahardyear · 8 March 2012 at 6:31PM

ps10006 wrote: »

This is interesting reading. iv had my cap1 classic card for 14months now, never missed a payment or anything and they gave me a credit increase after 4 months. What are my chances of getting accepted for the progress card? and if i apply do they credit check me or just check how iv ran their account?

id only had my cap classic card for 7 months when i got the progress, ive never had an increase on either

littleladybird · 8 March 2012 at 7:56PM

Well I received the 'thanks but no thanks' letter today. Oh the letter was pleasantly worded but that didn't cheer me up at all!

Here's what they had to say....

Thank you for applying for a capital one credit card.

Unfortunately we've been unable to process your applicaction. Although we consider existing customers for some of our new products, you haven't fulfilled our criteria for the card that you applied for.

Your are a valued customer and I hope you'll continue to enjoy the benefits of your current capital one credit card.

I am sorry for any inconvenience this may have caused.

Yours etc...

I suppose I was pushing my luck in applying as I've only had my existing card for little more than 4 months. I only work part time earning just short of 10k which probably doesn't help.

Oh well, onwards and upwards as they say (I wish I know who 'they' were!) I'm just going to have to bite the bullet and clear the balance on my barclaycard as quickly as possible.

llb

wizzywig27 · 8 March 2012 at 10:07PM

well I have had my Capital One Classic card for 18 months now, £200 limit, no offer of an increase even though I have not missed one payment (admittedly I have only cleared the balance once but never went over my limit) - I applied for the progress card (hoping they would offer me a higher limit (plus my interest reducing over time) - called them Friday told me it was referred and being checked, called up Tuesday, accepted with £200 limit (dont see the point myself) - PIN arrived yesterday still waiting on the card!