Vanquis - 5th Month Limit Increase

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    You may also have the honour of being in a control group, so could never be increased.
  • Grumpy_Shunter
    Grumpy_Shunter Posts: 227 Forumite
    First Post First Anniversary Combo Breaker
    Deleted_User wrote: »
    You may also have the honour of being in a control group, so could never be increased.


    Ooooh, a control group. What's a control group? :p
    Advertising has us chasing cars and clothes, working jobs we hate so we can buy crap we dont need!:think:
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    To test how effective a strategy is, you keep a few customers to one side so you can measure the impact.

    Eg you select 20k similar customers, give 19k a limit increase, but do nothing with the remaining 1k. You can then see the impact on spend, defaults, attrition, etc.
  • Grumpy_Shunter
    Grumpy_Shunter Posts: 227 Forumite
    First Post First Anniversary Combo Breaker
    Deleted_User wrote: »
    To test how effective a strategy is, you keep a few customers to one side so you can measure the impact.

    Eg you select 20k similar customers, give 19k a limit increase, but do nothing with the remaining 1k. You can then see the impact on spend, defaults, attrition, etc.


    Umm, interesting. Well, if I am, it doesn't really matter becuse I rarely use the card now. I managed to get a Capitol One card with a 1k limit - which is fine for me.

    Thanks for the explanation.
    Advertising has us chasing cars and clothes, working jobs we hate so we can buy crap we dont need!:think:
  • T-G-C
    T-G-C Posts: 591 Forumite
    First Post
    SnowTiger wrote: »
    I've had a Vanquis card for years and never received an increase. I've hardly used it.

    They recently offered me 1% cashback during November and December, so I've used the card a lot during the past two months.

    They emailed and sent a text message about upping my limit by a grand on 15th December, which was my statement date. The increase was due to go live a month later, although I was given the option to accept it earlier if I wished.

    I assume that if I wasn't told on the statement date via electronic notification, which I haven't, then I will not be receiving that boasted increase. I will have to wait another 5 months for a review.

    It seems my demonstration of a reliable debtor hasn't paid off for the past 5 months, it's probably because I haven't made them a penny interest :rotfl:

    I would almost bet that if I carried a balance each month and interest tiding the balance every statement date, I'd be increased in a heartbeat.
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
  • T-G-C
    T-G-C Posts: 591 Forumite
    First Post
    Grumpy_Shunter wrote: »
    Umm, interesting. Well, if I am, it doesn't really matter becuse I rarely use the card now. I managed to get a Capitol One card with a 1k limit - which is fine for me.

    Thanks for the explanation.

    Ironically, Capital One offered me an even lower limit of £200 on 0% when I opened the account and they are probably more stricter than Vanquis for limit increases, as it's only one review per 1/2 year.
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
  • Matty17
    Matty17 Posts: 16 Forumite
    I started with a £200 limit on Cap one in May last year. Now on 600 as I opened a new account and consilidated it. That seems the only way to get a increase with them. Im hoping soon my Aqua and Barclaycard will get limit increases as they are both now just over three months old.
  • T-G-C
    T-G-C Posts: 591 Forumite
    First Post
    Matty17 wrote: »
    I started with a £200 limit on Cap one in May last year. Now on 600 as I opened a new account and consilidated it. That seems the only way to get a increase with them. Im hoping soon my Aqua and Barclaycard will get limit increases as they are both now just over three months old.

    1. How long did you wait before attempting to open another credit card with Capital One?

    2. Which Capital One card did you originally open in May, for example their Classic, and which one did you open later on to consolidate with?

    3. Did you use their Quick Check before applying for the second card and if so, did it return a Not Eligible result or did it confirm pre-approval?

    I am curious, as I have heard about this credit limit "consolidation" but never knew it existed, as I assume a credit limit was per card only.
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
  • T-G-C
    T-G-C Posts: 591 Forumite
    First Post
    I did try to use Capital One's eligibility checker to see if I can receive a second card with them for credit limit consolidation, but as per usual at the moment with everyone, I received this response:

    Capture1234.jpg
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
  • Matty17
    Matty17 Posts: 16 Forumite
    I opened the classic card £200 limit in may, I tried around September and got the same affordability message via quick check and tried again September 25th. 100% pre approved for another £200 classic card. Consolidated and repeated again November. Capital one ask you too wait 2 month after a consolidation to apply again.
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