Capital One Credit Builder

quackers82

Since Egg closed my account like a lot of peoples, i've been after another credit card. I had my egg card before i defaulted back when in 2003, so until 2009 there are defaults on my credit file. I've been accepted by Capital One for this card, and they claim that after 3 months, as long as i pay on time, and keep within my limit, it will be increased on the 4th statment.

My question is, does the way i use my card in those first 3 months effect how much they will increase my limit by?

Would say running the card to near its limit then paying off in full for 3 months , compared to only spending say 40% of the limit have an effect?

What about paying off in full? does leaving some on the card so they can make some interest off me make them give me a bigger limit?

Volcane

I had an initial £1000 limit on it and spent 30% to 70% of that each month and paid off in full by Direct Debit and they increased to £1600 on the 4th month.

If other people post similar details maybe we'll see a pattern emerge?

sscott5581

Would be interested to find out about Capital One customers in same position.

mess0804

Can I ask a silly question? (not silly for me) Do you have a landline? I tried to go for the Barclay card Initial and they refused me because I don't have a landline. (I tryed in branch because it's my bank and the lady there said that the aplication won't go through if I don't have a landline) ... so I want to know if it's any use to apply for Capital One

quackers82

Yes i have a landline. Not that i use it :mad: I hate paying £12 a month for a line thats there just for broadband

Tori_Bellatrix

quackers82 wrote: »

Yes i have a landline. Not that i use it :mad: I hate paying £12 a month for a line thats there just for broadband

Lol ... Same here pretty much ... I rarely use my landline except for calls such as 0800 which aren't free on mobiles and other such national/premium numbers

jimbo26

quackers82 wrote: »

Yes i have a landline. Not that i use it :mad: I hate paying £12 a month for a line thats there just for broadband

Move to Talk Talk. You get line rental and BB for £16.39, pay nothing to BT.

bethanyrayne

quackers82 wrote: »

Since Egg closed my account like a lot of peoples, i've been after another credit card. I had my egg card before i defaulted back when in 2003, so until 2009 there are defaults on my credit file. I've been accepted by Capital One for this card, and they claim that after 3 months, as long as i pay on time, and keep within my limit, it will be increased on the 4th statment.

My question is, does the way i use my card in those first 3 months effect how much they will increase my limit by?

Would say running the card to near its limit then paying off in full for 3 months , compared to only spending say 40% of the limit have an effect?

What about paying off in full? does leaving some on the card so they can make some interest off me make them give me a bigger limit?

They are predictable and they will increase your limit on the 4th statement according to your initial limit.

Initial limit £100 goes to £300
Initial limit £200 goes to £500
Initial limit £500 goes to £1100
Initial limit £1000 goes to £1600

see the pattern

Karl.H_2

bethanyrayne wrote: »

Initial limit £100 goes to £300
Initial limit £200 goes to £500
Initial limit £500 goes to £1100
Initial limit £1000 goes to £1600

see the pattern

Yes, I can confirm that list. My limit was £100 and it increased to £300, where it is now. I think it increased before my 4th statement because I was spending near the first limit.

jimbo26

Same for me. Initial limit of £500 went to £1100.

PROLIANT

And it seems they will only increase your limit once, I went from £200 to £500 in November 2007, stayed there ever since.