Capital One Refusing Credit Increase

[Spellkaster]

I've had my Capital One credit card now for around 7 months.

I have kept well within the credit card limit, never defaulted, never missed any payments, and paid on time each month.

I have applied today for an increase in credit limit.

They are refusing this credit limit increase without giving me a genuine valid reason as to why they are refusing.

I have no outstanding recent debt on my credit file.

I feel they are refusing me an increase unreasonably.

[MIKE770]

Re: Capital One Refusing Credit Increase

they have their own course of action regarding credit limits - usually time spent, to request after 7 months is a bit premature as most of these companies might view a question mark ?

some companies give auto increases but are the usual high interest rates ones.

[Spellkaster]

Re: Capital One Refusing Credit Increase

they have their own course of action regarding credit limits - usually time spent, to request after 7 months is a bit premature as most of these companies might view a question mark ?

some companies give auto increases but are the usual high interest rates ones.

It says on their website that you could get an increase after the 6th statement.

I've had 7 now and still refusing.

[MIKE770]

Re: Capital One Refusing Credit Increase

the word "Could" not will get?

[Kati]

Re: Capital One Refusing Credit Increase

From the FAQs - http://www.capitalone.co.uk/support/...redit-card.jsf

Can I request a credit limit increase?

We regularly review our customers' accounts and will write to you to let you know if you're eligible for a credit limit increase. In the meantime, managing your account well by regularly using your card, making payments on time and staying within your limit will stand you in good stead for an increase in the future.

[Kati]

Re: Capital One Refusing Credit Increase

this is a must read as well - https://www.capitalone.com/credit-ca...line-increase/

Eligibility:

Are all Capital OneŽ cards eligible for a credit line increase?
Some accounts aren't eligible for increased credit lines upon request. Accounts that are usually ineligible:

• Are less than three months old.
• Are secured credit cards.
• Have received a credit line increase or decrease in the last six months.
• Even if your account does not meet either of these criteria, a credit line increase may still be declined for other reasons.

What factors determine if I’m eligible for a credit line increase?

• You make on-time payments (with all creditors).
• You make larger monthly payments that pay down your balance.

there's a section on declined increases further down the page

[Spellkaster]

Re: Capital One Refusing Credit Increase

My circumstances match what its all saying.

I've had my account for 7 months now, kept well within the credit limit, made payments ontop, never defaulted.

So I can't see why they are refusing me an increase!!??

[MIKE770]

Re: Capital One Refusing Credit Increase

answer in para 2

[des8]

Re: Capital One Refusing Credit Increase

ask a clairvoyant?

[warwick65]

Re: Capital One Refusing Credit Increase

Did you know that you can have up to two Capital One run credit cards at once such as Luma and Think Money

If you need extra credit that may be a way around it