Capital One credit card. When do they increase balance?

williewonder

I recently got accepted for a Capital One credit card which has a low limit of £200. I'm solely going to use the credit card for my weekly food shopping spending £40 a week then pay off balance every month. How long would it roughly take for them to increase my balance? I like how on the app they have the option to freeze the card and I think this will come in useful when I'm aboard so need a higher credit limit. 

[Deleted User]

Your balance will increase as each transaction is posted, and also as interest is added at the end of each month.

Make sure you stay away from your limit, especially if it's low.

Your limit will be reviewed periodically, but it's dependent on a lot of factors.

[Deleted User]

williewonder said:

I recently got accepted for a Capital One credit card which has a low limit of £200. I'm solely going to use the credit card for my weekly food shopping spending £40 a week then pay off balance every month. How long would it roughly take for them to increase my balance? I like how on the app they have the option to freeze the card and I think this will come in useful when I'm aboard so need a higher credit limit. 

Freezing a card isn't a good thing though is it - and a higher limit when you're on board ...... that just comes with time, it's not in quick succession after getting the card, as @Deleted_User has said.

Edi81

The balance increases as you spend. 

I think you mean limit. 

dr_adidas01

williewonder said:

I recently got accepted for a Capital One credit card which has a low limit of £200. I'm solely going to use the credit card for my weekly food shopping spending £40 a week then pay off balance every month. How long would it roughly take for them to increase my balance? I like how on the app they have the option to freeze the card and I think this will come in useful when I'm aboard so need a higher credit limit. 

I'm guessing rather than balance you mean increase your credit limit, there have been many threads on MSE where people have got a capital one card with a limit of £200 and have had the card for many years and their credit limit has never been increased. 

There have also been threads where others have had an increase after 6 or 12 months, it seems Capital One can be very hit and miss with credit limit increases.

PlatinumChaos

I've just applied for a Capital One classic credit card and in the bumf they say "Up to two optional credit limit increases per year, subject to eligibility".

dresdendave

williewonder said:

I recently got accepted for a Capital One credit card which has a low limit of £200. I'm solely going to use the credit card for my weekly food shopping spending £40 a week then pay off balance every month. 

Be careful here. You could easily go over your limit. Four weeks at £40 and balance wont be due until about three weeks after statement date, by which time you may have done another couple of shops.

cymruchris

Capital One are not renowned for being generous with their credit limits. Do as you plan - spend - pay back in full - do that month in - month out - and then after at least 6 monthly entries are recorded in your credit history on all CRA's - try an eligibility checker for Aqua or Vanquis. You might get a higher limit with them, once you have some positive history recorded from Capital One. 

alfred64

Capital One was one of my first credit cards in the 90's. I still have it. The initial limit was £200. After a few months I was invited to apply for an 'upgrade' - but I was required to pay for this! - unheard of since -  I was naive in such matters but 'upgrade' sounded good so I paid. Can't remember exactly how much it was, £20 or £50, but it was a substantial amount to me at the time. My limit was increased to £800 and more than 22yrs later remains the same.

funkycredit

Capital one must have changed! I remember back in the day they gave ridiculously high limits and was very hard to get accepted for. 

Are they a credit builder option now? Wow how times change!