Cap One CL Increase??

good luck, but they have been tough lately.

 

Not very likely if your overlimit.

 

First of all, I they've said one can only ask for one every nine months. Second of all, try to get your balance below the limit... being over the limit is definitely not a plus.

 

I have not had an overlimit from Cap1, but I had a horrible experience w/Direct Merchant Bank and learned my lesson the hardest possible way - DON'T GO OVER YOUR LIMIT!!!

Cap1 may not do the same thing as DMB, but in my case, I was pretty close to my limit. I made the mistake of putting a gym membership on that card. I simply made the minimum payment, or close to it, and in a few months I was hitting my limit.

In hindsight, I would have switched to my debit card for the automated withdrawl OR remembered to pay the minimum + gym membership.

I was able to get one late fee removed (most banks will give you one per year) but hit it two more times over six months.

My interest rate went from 6% to 19% over the next year! I've gotten it down ONE HALF point to 18.5%, but the good news is I've paid back over 1,000 on the balance, taken the gym off the card and made more than the minimum.

I did try to task about raising the CL just $500 to help me overcome the problem. They weren't interested. It's the same logic that says that people who don't need loans are the ones to whom banks want to lend money. I set off an alarm (OVER the limit), which is probably in addition to another alarm (CLOSE to the limit).

So my suggestion, w/out actual Cap1 experience, is to do ANYTHING you can to get your balances UNDER your limit IMMEDIATELY. The price you may pay is not worth the price you may pay.

I've seen a theme floating around here, something like "minutes to do, months to undo" - be careful out there!

 

Which card do you have and what is your overlimit EXTRA fee?


Is that a recurring monthly fee?