New post office credit cards

george9071

I was thinking about getting the new post office classic credit card, i see they are now powered by capital one. I was the subject of identity fraud not that long ago so my credit report is a bit rough and i am having trouble getting the accounts removed. Enough rambling from me, my question is do they offer a good credit limit or are they like the ordinary capital one cards with a lower limit? Thanks

cymruchris

It depends on your history - but yes it's likely that with a patchy record you might get a low limit to start with. Have you tried their eligibility checker directly on their website? It'll tell you if you're likely to qualify for the 34.9 card or the 29.9 card - I would say that if you qualify for the higher rate card it'll be a lower limit, and the lower rate card would give an improved limit.

Alex9384

george9071 said:

my question is do they offer a good credit limit or are they like the ordinary capital one cards with a lower limit? Thanks

I don't think so. They really look like a subprime lender now.
I have an immaculate credit history and cards with limits 5400, 6000, 6300 and I've also been pre-approved for Lloyds with estimated limit of £6700.
I've done the eligibility check for Post Office cards just out of curiosity and they are offering me £1500 limit and only one card of the two. I can only laugh at that. I would never apply for something like that.

But in your case, if you don't have much other options.... Just don't expect any good credit limit.
Anyone else has done their eligibility check? What limits they're offering you?

funkycredit

Alex9384 said:

george9071 said:

my question is do they offer a good credit limit or are they like the ordinary capital one cards with a lower limit? Thanks

I don't think so. They really look like a subprime lender now.
I have an immaculate credit history and cards with limits 5400, 6000, 6300 and I've also been pre-approved for Lloyds with estimated limit of £6700.
I've done the eligibility check for Post Office cards just out of curiosity and they are offering me £1500 limit and only one card of the two. I can only laugh at that. I would never apply for something like that.

But in your case, if you don't have much other options.... Just don't expect any good credit limit.
Anyone else has done their eligibility check? What limits they're offering you?

They say they can't offer me one! Maybe not surprising considering the available credit, and limits held with proper providers. 

Never used their checker before. But it can't be right when they say it's affordability yet that's never an issue being I owe £0 and have average limits with 5 digits! Anyhoo.....

williewonder

I have just got the Post Office, (Capital One card) I got 100% acceptance on ClearScore so applied and got accepted for the card with £200 credit limit.

Its basically Post office labelled but the App is powered by Capital One. I much prefer this App than my Vanquis credit card. You can freeze card in their App unlike Vanquis.

I do think be being accepted for Capital One is me moving forward to a mainstream card. I'll just have to wait and see.

Fighter1986

funkycredit said:

Alex9384 said:

george9071 said:

my question is do they offer a good credit limit or are they like the ordinary capital one cards with a lower limit? Thanks

I don't think so. They really look like a subprime lender now.
I have an immaculate credit history and cards with limits 5400, 6000, 6300 and I've also been pre-approved for Lloyds with estimated limit of £6700.
I've done the eligibility check for Post Office cards just out of curiosity and they are offering me £1500 limit and only one card of the two. I can only laugh at that. I would never apply for something like that.

But in your case, if you don't have much other options.... Just don't expect any good credit limit.
Anyone else has done their eligibility check? What limits they're offering you?

They say they can't offer me one! Maybe not surprising considering the available credit, and limits held with proper providers. 

Never used their checker before. But it can't be right when they say it's affordability yet that's never an issue being I owe £0 and have average limits with 5 digits! Anyhoo.....

This is just a clear demonstration of how each lender has their own apetite for customers.

Clearly Capital One's credit scoring model is averse to applicants with a large amount of available credit; further disproving the theory that a "Credit Score" carries any meaning whatsoever.

I wouldn't worry about Capital One / Post Office not wanting to offer you a card, from what you've described you're in a far better market than Capital One target. 

JamesPeter

Fighter1986 said:

funkycredit said:

Alex9384 said:

george9071 said:

my question is do they offer a good credit limit or are they like the ordinary capital one cards with a lower limit? Thanks

I don't think so. They really look like a subprime lender now.
I have an immaculate credit history and cards with limits 5400, 6000, 6300 and I've also been pre-approved for Lloyds with estimated limit of £6700.
I've done the eligibility check for Post Office cards just out of curiosity and they are offering me £1500 limit and only one card of the two. I can only laugh at that. I would never apply for something like that.

But in your case, if you don't have much other options.... Just don't expect any good credit limit.
Anyone else has done their eligibility check? What limits they're offering you?

They say they can't offer me one! Maybe not surprising considering the available credit, and limits held with proper providers. 

Never used their checker before. But it can't be right when they say it's affordability yet that's never an issue being I owe £0 and have average limits with 5 digits! Anyhoo.....

This is just a clear demonstration of how each lender has their own apetite for customers.

Clearly Capital One's credit scoring model is averse to applicants with a large amount of available credit; further disproving the theory that a "Credit Score" carries any meaning whatsoever.

I wouldn't worry about Capital One / Post Office not wanting to offer you a card, from what you've described you're in a far better market than Capital One target. 

I think you may have hit the nail on its head.

When the Post Office previously issued credit cards, they were issued by Bank of Ireland and were more mainstream. I had their Platinum credit card to use abroad due to the 0% fees and was given a credit limit of £10k (with 28 months 0% on spending and an 18.8% APR then on). Very similar to the credit limit limit on the few other cards I hold, all of which are fully paid off every month and I have a perfect credit history on all three CRA’s – all green everywhere!

Following the disastrous move of the former PO credit card holders to Jaja, I closed the account as Jaja couldn’t run a drinks session in a brewery!

I then applied for the ‘new’ Post Office travel card and was rejected.

To me, it seems that the PO have ‘dumbed down’ their credit cards by going with Capital One and that the Post Office are now basically a sub-prime lender. They appear to not want those who pay off their credit cards monthly or have other higher value cards.

Their loss I suppose, as I do have other cards giving 0% on overseas transactions, but I mistakenly thought an organisation like the Post Office would do better than go down the sub-prime route!

george9071

Thanks all for commenting, i think i will take out the credit card, i know it's subprime and basically a terrible card due to the low credit limit and high APR but after taking a big hit to my credit file due to the identity fraud it maybe my only option at the minute just till i can rebuild my file again hopefully i will be back with mainstream this time next year!

[Deleted User]

Try your own bank/s first.

Next try Tesco or Barclaycard as they have prime products but will offer your their sub prime versions if you don't qualify. Most other providers, they only offer prime or sub-prime but the two above offer both.