Luma limit increases

MadMat

Anyone got any ideas on how to prompt a limit increase with Luma?

I've had the card with a £200 limit for 6 months now, and always paid off in full every month.

My kids want the new Xbox when it comes out in a few months, and I'd like to be able to pre-order using a credit card so that they get it on launch date, and we are protected should something go wrong like the shop going bust between now and the release date!

Mat

_Andy_

Ring them and ask for an increase

MadMat

It specifically tells you not to ask for increases in the blurb you get with the card!

Mat

izools

Luma is a brand of Capital One.

Capital One offer increases via invite only.

They should offer an increase after seven months, if the account has been run well enough.

dazzaofdagenham

I'm just coming up to my 10th statement.

Still have the original limit of 200 pounds. I use the card quite regular and pay the minimum amount via direct debit.

Also always pay extra onto card.

Should I be concerned about lack of a increase ?

izools

I would suggest clearing the card in full each month, an increase may be more forthcoming after a few months of doing so.

You-kip

I would say get credit for the Xbox but having a Luma card suggests you would probably fail their checks.

dazzaofdagenham

I can clear the balance each month, but isn't that defeating the object.

If I clear each month then am I not "profitable" for them ?

Normally pay about 2 - 3 pounds of interest per month which is ok for me.

Thought my credit report was good and getting better ?

john1002

To be honest one of the hardest cards to get regular credit limit increases is capital one, there is no real formula on how to get one, there computer does indeed seem to have a varying way of giving increases, I would say just use your card as you see fit and if you get a limit increase it is a bonus, dont try and guess the system as it will not work. As for protection use your credit card for at least £1 (cant remember the exact amount may be £10) and you will get section 75 protection and pay using your debit card for the remainder.

good luck

john

You-kip

Sub-prime cards are not designed for limit increases as to Prime-cards.

[Deleted User]

Dont you just have to pay a deposit to pre-order? You can pay the deposit on CC and the rest with another payment form when the thing is released.

Why would you want to give a company a few hundred pounds of your money interest free for several months? Indeed, you'll be paying interest on that amount if you leave it on your card until then.