Capital one

Madmike48

Oh so I have a capital one card. 6 months tomorrow… I was told I would get increase after 5 months I don’t know what the truth actually is. Any idea why it not been done and how long is the actual time as I seen 5,6,8 months . Also i spent near all my limit but I pay 5x the amount asked every month will that stop me getting a raise.. tbh I won’t use the extra but it would be handy for emergencies ever..   thanks everyone 

MovingForwards

You should only spend what you can afford to pay off in full, keeping a running balance won't have Cap1 rushing to increase your limit as it doesn't demonstrate being able to manage credit.

Madmike48

MovingForwards said:

You should only spend what you can afford to pay off in full, keeping a running balance won't have Cap1 rushing to increase your limit as it doesn't demonstrate being able to manage credit.

I won’t get into excess debt. Don’t want a increase but can’t really make a big purchase with only £200 

MrFrugalFever

£200 😮 didn’t even realise you could get a limit that low!? 

It will all depend on how you manage the account, I’m not aware of them doing further credit searches to establish your affordability.

Carrot007

MovingForwards said:

You should only spend what you can afford to pay off in full, keeping a running balance won't have Cap1 rushing to increase your limit as it doesn't demonstrate being able to manage credit.

On my random card thoughts, spending to the limit (rolling over maybe a month or 2, depends on the limit) the p[aying in full will get you a increase very quick. Or course that may not be for everyone.

Though why increase it anyway, I was not trying to. It is not going to help buiold crfedit if your pay to possible debt ratio is big (for some things not others).

MalMonroe

Why not phone them and tell them what you put in your OP? 

Ask if they are now ready to increase your limit. It doesn't hurt to ask.  But as others have said, it's always best to clear the balance every month. That way, credit card companies know that you are able to manage your money well. (I can't tell you how long it took for me to learn that! Strange but true . . . )

cymruchris

Madmike48 said:

 I was told I would get increase after 5 months 

Who told you this?

Increases normally come with good account management - which is usually along the lines of paying off in full every month, and not going near the limit where possible. Different lenders have different approaches - but I know Cap One isn't known for being generous with its limit increases.

[Deleted User]

Madmike48 said:

Also i spent near all my limit but I pay 5x the amount asked every month will that stop me getting a raise.. 

If you're not clearing in full on a £200 limit, forget about increases.

Bear on mind that you also have defaults from your other accounts, which will minimise the chances of limit increases.

MrFrugalFever

Directly from capitalone online portal just now.