When will aqua increase my limit?

A4445

I've found them generous with their credit limits. They gave me £1500 to start with and I have a pretty poor credit history! I've no idea how they decide on credit
limits!

moshoodo1

They are very generous, they up my limit every 4months since i got them and never fail. am currently on £5300

tomxlisa

moshoodo1 wrote: »

They are very generous, they up my limit every 4months since i got them and never fail. am currently on £5300

Maybe they will start increasing mine once i hit the 6 months mark then, and I didn't think you could get higher than £1500 on the cards, or maybe that's the one I have only.

A4445

I believe £1500 is the maximum starting limit for Capital One Classic. My partner has had one for years and the limit was increased to £3000. TBH I'm not really bothered if they don't increase £1500 is more than enough for my needs. I pay in full anyway, I'm certainly not paying 34.9%!
I have a Barclaycard Initial that's only got a £400 limit. I've no idea how they decide on credit limits, how does one company give £1.5k and another £400?

Andybez38

I got an increase from £900 to £1800 after 3 months. I have 1 default on my credit files.

Anthorn

tomxlisa wrote: »

Maybe they will start increasing mine once i hit the 6 months mark then, and I didn't think you could get higher than £1500 on the cards, or maybe that's the one I have only.

People do post things like that and it's mainly based on a figment of their imagination or outdated information. For example, I've seen it posted several times that the max on a Vanquis Gold card is £2000 but when I closed mine the limit was £2750 with an offer to increase it to £3250 but before that it stuck on £1500 for a comparatively long time.

Subject to status, yes, but we can also add our history of using the card. There is also the profit motive and if they they can make more profit reasonably safely they will do it.

bigadaj

Isn't a vanquis gold card the definition of an oxymoron?

Anthorn

bigadaj wrote: »

Isn't a vanquis gold card the definition of an oxymoron?

Contradictory terms juxtaposed upon each other? No I don't think so. Gold card holders do get a service not available to regular card holders - free phone number for account servicing and if my experience is anything to go by, also faster.

Do you have a definition of a "Gold Card"?

m4rc

tomxlisa wrote: »

Maybe they will start increasing mine once i hit the 6 months mark then, and I didn't think you could get higher than £1500 on the cards, or maybe that's the one I have only.

Is this a capital one card or Aqua? Aqua are good with increases, capital one about the worst I have seen. Many people who have their starter cards report never getting an increase even after several years and being able to obtain several mainstream cards. Don't be surprised if you don't get an increase, you can ask but for some reason they seem to prefer to keep customers with sub-prime cards on the same starter limit.

This isn't the rule of course, some do see increases, but don't hold your breath. When you have had the card 6-9 months go for a Barclaycard Initial, ey seem generous with initial limits and you will be offered regular increases if you manage the account well. Aqua are good too, but of course both have very high APR's so make sure you clear the balances in full each month or if not as quickly as possible so you pay little interest.

tomxlisa

m4rc wrote: »

Is this a capital one card or Aqua? Aqua are good with increases, capital one about the worst I have seen. Many people who have their starter cards report never getting an increase even after several years and being able to obtain several mainstream cards. Don't be surprised if you don't get an increase, you can ask but for some reason they seem to prefer to keep customers with sub-prime cards on the same starter limit.

This isn't the rule of course, some do see increases, but don't hold your breath. When you have had the card 6-9 months go for a Barclaycard Initial, ey seem generous with initial limits and you will be offered regular increases if you manage the account well. Aqua are good too, but of course both have very high APR's so make sure you clear the balances in full each month or if not as quickly as possible so you pay little interest.

Yeah it's a capital one card, I think once I get my hands on a Aqua card or something similar which gives better credit increases I will ditch capital one, had it for 5 months now but only using it to improve the credit history, I can't use barclaycard as I previously had one of there cards when I was young and silly and defaulted, and when I apply nowadays it tells me I already have an account with them, even though I don't and haven't for the last 10 years.