UPDATE: Capital One Progress

MrSilk

Just an update

With me having not received anything through the post, I decided to call Capital One to ask the status of my application.

I was told it has been successful and is being processed, with my card and pin being with me within the next two weeks, and a credit limit of £1,500 at 29.9% APR for the first six months. Woo! - can finally ditch my secured card (39.9%) and get my £200 back (Will go towards decorating the flat)

Simon7685

I understood that after you had operated a secure card satisfactorily for a period of time (think it was 6 months) then they repaid your deposit and converted the Secure Card to a Classic.

I am sure that info was on their website but it could have changed over time I guess.

I would wait until your Progress card arrives and you activate it, then set up DD for the min payment to cover and make sure you don't forget to pay or miss a date for payment (it can happen to anyone). Then I would ring and ask them about the secured card and your deposit. If they don't offer the deposit back, as why not and when will they refund it.

MrSilk

Simon7685 wrote: »

I understood that after you had operated a secure card satisfactorily for a period of time (think it was 6 months) then they repaid your deposit and converted the Secure Card to a Classic.

I am sure that info was on their website but it could have changed over time I guess.

I would wait until your Progress card arrives and you activate it, then set up DD for the min payment to cover and make sure you don't forget to pay or miss a date for payment (it can happen to anyone). Then I would ring and ask them about the secured card and your deposit. If they don't offer the deposit back, as why not and when will they refund it.

That's true, yes I shall wait until it's been received and activated.

I guess I could say that I'd be willing to keep and use the secured card if they refund my deposit, had it for a year and a half always paid in full and never missed a payment or gone over limit.

If they say no then I'll close it, but i guess if they've given me a £1,500 limit on the progress, the risk isn't there anymore, if not smaller than when they gave me the secured card? Hmmm

A year after, they upped my limit to £400 so I'd guess it wouldn't be classed as a secured card anymore?

RICK..._2

Hi Silk, congrats on getting accepted.

I've had the capital one classic for over two years now and my limit is STILL at £200, even though I pay the card off in full every month without fail. So frustrating!

I last applied for the classic extra around august time and got declined, which I thought was due to me already holding a capital one card, however after reading this I decided to give it another try and been accepted!!

"WELCOME TO CAPITAL ONE, RICKY
We're so happy you've decided to become a customer.
Now it's time to make space in your wallet as your card is on its way"

Hoping that I get a fairly decent limit so that I can close the classic.

MrSilk

RICK... wrote: »

Hi Silk, congrats on getting accepted.

I've had the capital one classic for over two years now and my limit is STILL at £200, even though I pay the card off in full every month without fail. So frustrating!

I last applied for the classic extra around august time and got declined, which I thought was due to me already holding a capital one card, however after reading this I decided to give it another try and been accepted!!

"WELCOME TO CAPITAL ONE, RICKY
We're so happy you've decided to become a customer.
Now it's time to make space in your wallet as your card is on its way"

Hoping that I get a fairly decent limit so that I can close the classic.

Well done Ricky!! Wooohoo!!! :T

I was expecting a limit of £500, was stunned at £1,500!!

Hope you get a decent limit so you can close your other one!!

Maestro.

Worry over?
:beer: :T

Sabbathdei

:T
:beer:
Hi Silk, well done ! Now behave yourself with that limit lol
Talking of which, where is our mutual friend, haven't seen a Vanquis thread for ages lo ??

Maestro.

He's over on the employment board talking about his t shirt.

MrSilk

:T I always behave! don't go over £400 a month so I might even ask them to lower it

Haha.. Wonder if V have unblocked his card yet?.. Or upped his limit to £150 .. Or he's got sanctioned?!.. Hmmm.. So many possibilities..

I'm off to do some window shopping to see what I can buy with my new card.. Jokes, obv. :P

MrSilk

Maestro. wrote: »

Worry over?
:beer: :T

Yes long worry over :P I can sleep well tonight :rotfl: