My credit limit just increased 10x out of the blue.

somerandomusername

I had a capital one credit card with a £500 limit and have had the card for about 4 years. I just used it to pay my monthly phone contract and paid it off in full each month to build credit.

Never had any late payments or anything, today I just got an email from capital one telling me they're upping my credit limit to £5,000 and if I want to accept it or not.

I trust myself completely with credit cards and know they are valuable when used correctly, so I have accepted the new limit. But I never expected such a massive jump like that.

VAP_Driver

In credit card terms, £5000 isn’t a particularly high limit. Although it is indeed 10x higher than your current one, that in itself was quite a low limit. So whilst the % change is high, the difference is only £4500.

As you say, you’ve had the card number of years, and ran it well by using it, staying within your limit and paying it off in full. So you should have a good internal credit history with Capital One, and this is the result.

A card limit going from £10k to £14.5k wouldn’t be that big a deal, nor applying for a card and getting a 5k initial limit, so I wouldn’t read too much into this, either. Of course, you can always lower it if in the future you feel it’s not appropriate or useful to you.

flaneurs_lobster

As you said, you took this card to "build credit". This is how the built credit manifests itself.