Sunday, November 21, 2010

Capital one credit card, credit increase?

has anyone had there limit increased with capital one credit card? if so how long is it before they increase it?

I was told that they increase it automaticaly on the 4th statement, is that right?

i only have a 拢200 limit but i use it a lot and have never gone over my limit.

for example i could use the card for over 拢400 worth of transactions in one single month but i never go over my limit, i just keep pying about 拢100 a week back on to the card and then use it again.

do you think i will get a credit limit since they can see i have no problem repaying it?Capital one credit card, credit increase?
I can't see why not. Give Capital One a call and see what they can do for you. They will have to do another credit check, but as long as you've kept on top of your bills, then this should come back fine.Capital one credit card, credit increase?
when you get a credit card you go through a credit check, credit card companies advise you wait about 6 months before going through a credit rating again.

if you are making regular payments to your card and in employment no late payment charges you stand a good chance of getting a limit increase after the 6 months.
If that's your entire credit limit, the credit card company doesn't trust you at all.

They're not going to raise your credit limit if they didn't give you much credit to start with.

And paying it 4 times doesn't tell them that you're good with paying. Try years of payments.
No, credit doesn't work like that: By paying off your card in full, you're a bad customer, as they're not making any money out of you. If you want a bigger limit, leave a balance on the card %26amp; pay the minimum for a few months.

If you can afford to pay it off, you shouldn't have it - they're just a money spinner offered in the hope that you'll run into financial trouble %26amp; then they'll be making money out of you for months or years on end!
they have never increased mine and I have had it for years.

i also have only a 拢200 limit, although i had to have a pre-paid deposit before they gave me one.

dont hold your breath
Most banks will not give anyone an increase in credit limit until you have a proven record of timely payments and more then minimum. This usually takes a year at least. Once you have had it for a year, no harm in calling and requesting an increase.

If your credit history is not too great you may not ever see an increase (Capital One is tight on giving out increases) I know, I have one account that I have used maybe 4 times in the past (going on 10 yrs now) and they never increased it.

Good luck and hope this answers your question

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