Credit limit increases

sharpy2010

Just had another increase on my Vanquis card to £2500 limit. Haven't had a single increase on my Capital One card, which currently has a £250 limit, and I've held them both an identical period of time.

No question here, just stating that Capital One must be being ultra cautious at the moment!

seriousDFW

Thanks for sharing your experience.

sharpy2010

seriousDFW wrote: »

Thanks for sharing your experience.

No problem. Like I said, no question to be asked, just doing exactly that, sharing an experience!

hadahardyear

sharpy2010 wrote: »

Just had another increase on my Vanquis card to £2500 limit. Haven't had a single increase on my Capital One card, which currently has a £250 limit, and I've held them both an identical period of time.

No question here, just stating that Capital One must be being ultra cautious at the moment!

me too, i have 2 capital one cards, an aqua and a vanquis. the only one that has increased is vanquis

boris-the-blade

sharpy2010 wrote: »

Just had another increase on my Vanquis card to £2500 limit. Haven't had a single increase on my Capital One card, which currently has a £250 limit, and I've held them both an identical period of time.

No question here, just stating that Capital One must be being ultra cautious at the moment!

Just curious as I am in a similar situation....

How long have had the cards?

And what was your starting credit limit with Vanquis.

pcc2304

i have 2 cap one cards classic and progress had the classic card for nearly 2 years started with £200 limit and still is, until today. called cap one yesterday and threatened to close account because of no limit increase man on the phone said they could get the underwriters to review it - how much would i like it increased by so i said by £500 to £700 they said i would get a response in 5 days just checked my online account and its gone up to £700 in the space of 24hrs. if you have a good record with cap one threaten to leave and they may increase your limit, they did for me

Simon7685

I thought they had to give 30 days notice before increasing your limit?

SnowTiger

Simon7685 wrote: »

I thought they had to give 30 days notice before increasing your limit?

I think that's only if they up it without you requesting for an increase.

pcc2304 asked for a credit limit increase.

Roland_Sausage

In mt experience Capital One are very odd in the way they decide limit increases.

Me and my wife both have Capital One cards. She has the classic with an APR of 29.9%, I have the platinum card which has 14% APR.

The wife has been very irresponsible with hers (which I am sure she will admit to), eg regularly going over limit as she didn't know what the balance was, regular cash advances for £10 when she had forgotten to pick up cash and really needed to get a cup of coffee, that kind of thing. So lots of fees and revenue for Cap One.

Myself, I have been a lot more responsible with mine, onlt going close (but never over) to the limit when making large purchases such as holidays, always paying much more than the minimum, have never made a single cash advance, nor ever been overlimit. At the moment the card has about 50% utilisation.

They keep giving the limit increases to the wife who actually now has a higher limit than me. :mad:

Horseunderwater

They give the CL increases to her because a) she is on higher interest rate and b) she goes over limit sometimes and perhaps pays the minimum, so they earn more out of her than you.
To OP:
Vanquis tend to give increases loads without asking when you have a high balance - I did and it is now around the £110 mark = interest due next few days. Was in the ballpark of £2k Sept last year or so. Have had card for over year now. No increases since I reduced balance right down. Funny that!

savagej

I have had the same experience, Vanquis very quickly raised my limit and it is now at £1500 but capone is still at £200 after 2 years. I also asked for a limit increase from £200 to £1000, got the 5 day response and was declined. Maybe it was too much of a jump too quickly but I thought they would give me something lower if that was the case but they outright said "computer said no". Might give it another go and see if I can get to £300, as it is a progress card and the interest rate is due to fall again soon.