Capital one credit limit

Santashelper

I have a not so great credit history but want to repair it so applied for a classic card from
Capitol One which is a starter card. I got accepted and it says that the limit is from £200
but I rang them today and spoke to a foreign man who I could not understand but I told
him I got my pin number and was waiting for my card but wanted to know what my credit
was on the card and I thought he said £50 is that correct? It states on the website that the
starting amount is £200 so why have I got £50?

SnowTiger

Santashelper wrote: »

I have a not so great credit history but want to repair it so applied for a classic card from
Capitol One which is a starter card. I got accepted and it says that the limit is from £200
but I rang them today and spoke to a foreign man who I could not understand but I told
him I got my pin number and was waiting for my card but wanted to know what my credit
was on the card and I thought he said £50 is that correct? It states on the website that the
starting amount is £200 so why have I got £50?

£200 is the lowest credit limit Capital One offers, however someone here once claimed their limit was £100.

Why did you phone them to ask what you credit limit would be when they'd already told you?

Call again and ask if you want further reassurance. :rotfl:

JimmyTheWig

Or just wait for the paperwork to come through.
If you're using it to build your score, any credit limit is better than nothing.
If you keep using it and paying it off at the right time then I'm sure they will increase your limit in the future.

Santashelper

I actually phoned them to ask about an email as they had sent me a text
and said they had emailed me with all the information but when I haven't
received any email so wanted to check they had the right email address.
Seeing as I had not had the email with the info I wanted to know what
my limit was. He was indian and talked very fast so could not make out
what he was saying but I am sure he said £50 and was only when I put the
phone down that I thought £50 was a bit low, £100 yes but £50? Yes any
amount will help but can't do much with £50 these days:rotfl:

Santashelper

My boyfriend has just fallen about laughing!! Thinks £50 is funny!

JimmyTheWig

To be fair to your boyfriend, he's right. It is a laughable credit limit. I really don't see how it is worth their while in giving you such a low limit. Any money they make from you on that limit can't cover their costs, surely?

I would guess that you mis-heard, given that you say he wasn't clear.
But, as I say above, you can still use it to build a credit rating, regardless of the limit.

dresdendave

As per the previous reply, it is a very low limit (if it is £50) but if the card's sole purpose is to improve your credit history, then it can still do the job. Just spend a token amount each month, £10 for example, and set up a DD to pay in full every month. This will start ticking the right boxes in your credit report.

A4445

If it stated £200 when you applied that will be your limit. When I applied in October it said my limit was £1500 and that's what it was. If you read the paper work the lowest credit limit they currently offer is £200. It also says there will be 2 optional credit limit increases per year!

[Deleted User]

Maybe you mishead them, and it's actually £15.