Sub Prime Credit Card Club

Tori_Bellatrix

louiser123 wrote: »

hi all,

just wondered if anyone has much experience with cap 1. i have had mine now for four months my fourth statement is due at the end of the week and according to the agreement i should get a limit increase on this statement, just wondered if they increased limits at 4 monthly intervals and if they give out set increases or are they individual to the cardholder, my initial limit is 100 but i want to book a holiday on the net in the next two months and am hoping it increases a fair bit so i can do that.

any knowlegeable person out there who can advise please??


thanks in advance


louise

Hi Louise

If your limit is currently £100 then it will probably get raised to £300 .. Capital One tend to follow a pattern with their credit limits ..

AceCobra1

Tori_Bellatrix wrote: »

Hi Louise

If your limit is currently £100 then it will probably get raised to £300 .. Capital One tend to follow a pattern with their credit limits ..

Just curious, how did you end up only getting £100 ? I mean surely that will be as good as nothing?!?! I think most people surely would cancel the card if the limits were so low?

Tori_Bellatrix

AceCobra1 wrote: »

Just curious, how did you end up only getting £100 ? I mean surely that will be as good as nothing?!?! I think most people surely would cancel the card if the limits were so low?

Sometimes it's not about borrowing money as such but building a positive credit file. As long as the card is paid on time, whatever the credit limit,Cap 1 will report positive data to the CRA's. This may not be the case for Louise but it is for lots of other people trying to build their credit files ...

louiser123

yes thats right tori, i got it to rebuild credit file and score,

i dont really need a card i mean truly need it, but i do truly need to rebuild my rating so thats what its doing cobra,

thanks for your replies everyone

AceCobra1

Ic... so does it matter how much the credit limit is ? I mean surely if someone's limit is £1k and they pay on time etc. every month theoretically should accumulate a higher score than someone with £100 limit etc. ?

louiser123

hi cobra,

no its the payment history that counts not the limit, all they are interested in is can you pay on time and well. and you get a little green 0, thats the impportant bit.

PROLIANT

Evening boy's and girl's, just been reading the last few post's and answer to cobra's question having a low limit will be more beneficial for your credit rating as your overall available credit will be lower which will make you look less of being over committed and will help your debt to income ratio as long as you are not maxed out on other stuff.

AceCobra1

Ah... got it now! Cheer pro

MABLE

PROLIANT wrote: »

Just a quick update to everyone, slightly off the subject but I have just resigned from my company I work for today as I have a new and slightly better paid job secured, feeling !!!! though cos I am leaving all of my mates behind and this is the first job I have held down for a while and it feels as though I have cut my insides out, is this normal?

I found this after being made redundant after 15 years. It takes a while to build up relationships. The job I do not miss but my former colleagues I do.

random_fat_bird

Guys, I'm taking a self-enforced sabbatical from the internet. I need some space.

Take care everyone, maybe see you all in a few weeks.

K