How often does CapitalOne review its classic account for limit increase?

skyrider007

I've had my classic super high interest (34.9%APR) CapitalOne card for a little over four months now and found out in my last statement that they've more than doubled my credit limit (from 500 to 1,100 pounds). I'm just wondering whether they do this every three months or not? If I continue paying-off my bill in full every month will I eventually receive the maximum credit of 2,500 pounds or be offered the lower interest platinum card?

Cheers

jimbo26

You won't be offered their platinum card. You have to close your current classic card then apply for the platinum one. Not sure about the increase in limit.

Volcane

They increased mine from £1000 to £1600 after 4 months but have never done so since.

Once my credit history was "repaired" I simply applied for better cards.

Use your Capital 1 sensibly for a year (and any other finance of course) and providing there's no lingering skeletons then you should be able to do the same.

It's worth enabling the equifax credit fraud facility of the capital one card too!

Karma67

I've had my Cap One classic card since April 05, limit of £200...never has been increased even though i've never gone overlimit or missed a payment.

Don't know what i'm doing wrong!!!

bethanyrayne

Karma67 wrote: »

I've had my Cap One classic card since April 05, limit of £200...never has been increased even though i've never gone overlimit or missed a payment.

Don't know what i'm doing wrong!!!

Close the card and apply for a platinum card, odds are they will either give you what you ask for or another card with higher limit than you have now with a commitment to increase limit after your 4th statement.

Please note don't reapply for a month because their system on closures is slow and will still think your existing account is still open and that means auto decline.

itsnever2lateisit?

skyrider007 wrote: »

I've had my classic super high interest (34.9%APR) CapitalOne card for a little over four months now and found out in my last statement that they've more than doubled my credit limit (from 500 to 1,100 pounds). I'm just wondering whether they do this every three months or not? If I continue paying-off my bill in full every month will I eventually receive the maximum credit of 2,500 pounds or be offered the lower interest platinum card?

Cheers

They wrote and offered me a 'Gold' card, but all that changed was the colour of the card, the interest rate and T&C's remained the same