limit

babyboy_3

hi my brother has been accepted for a capital one credit card how much is the limit you can have.the advert states£2.500 would he be given less as it is his first card?thanks

Martinslovechild

It depends on many factors, including:-

• Credit history (or lack of it in your brother's case as you've pointed out that this is his first card)
• Employment history (i.e. how long in current job, type of employment)
• Current salary
• How much he owes elsewhere
• Whether he owns other credit cards (which in your brother's case, he doesn't)

This list is certainly not exhaustive, but for each item on the list your brother will effectively be 'scored', i.e. allocated an amount of points. If his points total is greater than the minimum threshold for a particular credit card, then he'll be offered the card and they'll determine his credit limit based on their calculated 'credit risk', i.e. how confident is the credit card company that they'll get their money back?

Hope this helps...

viking30

Seems from what i have read and my experiance a lot of people get £200 on the first card.

ShelfStacker_3

I was given £100. Really, it depends on your circumstances.

PROLIANT

I am a cap 1 visa card customer and they will give you between £100- £200 and on your 4th statement they will up your limit if you have been good

nunnygirl

I know it's a different card company but on my Lloyds TSB card I got £1000 limit and that was my first and only card

ShelfStacker_3

nunnygirl wrote: »

I know it's a different card company but on my Lloyds TSB card I got £1000 limit and that was my first and only card

Did you bank with them? Prior customer history tends to outweigh what credit reference agencies say, in some cases.

nunnygirl

Yup, have been with them since I was 16 (am 23 on Wednesday) and I got my card just before my 20th birthday

ShelfStacker_3

nunnygirl wrote: »

Yup, have been with them since I was 16 (am 23 on Wednesday) and I got my card just before my 20th birthday

That explains it then. Like I say, many companies will go more on your past conduct with them than what Experian say. I've said this elsewhere, but HSBC gave me a card with a £1000 limit based on nothing but a month's usage of my account and a quick search of my file. Of course, if your account conduct's been less than perfect, it's probably better to simply not bother...