Credit Card Contractual Obligations

noggienoo · 23 October 2004 at 12:38AM

I recently read martin's book and was quite inspired to sort out my finances by tarting but hit a bit of a brick wall when egg only offered me a £500 limit. It's not great that you can't see what limit you will get until you have applied and I had no opportunity to tell them about potential part time jobs and student loans I recieve.
Now through the post I have received a form to sign to confirm my application, if I leave this unsigned do I have a chance to apply to another credit card provider as I read it is hard to apply for cards within a short amount of time of one another?
I am a final year student I have a debit card limit of £2100 with HSBC which i was able to extend by not correcting them think i wasn't a graduate but i pay interest (a friend of mine who is a graduate has mistakenly been getting 0% for 2 years!! unfair!) and the credit card is down by nearly £3000. I also have Natwest student account, final years are entitled to £1800 limit but I am unable to take advantage of this as the account has low activity so only have £1250 to play with.
So should I sign the Egg contract and work with the measly £500 or try for something better, any advice, thanks!!!
noggienoo xxx

Galstonian · 23 October 2004 at 1:00AM

Its hard to say, you could always ask them for more and if they say no you can ask why. It could be income, it could be "stability" (job, address etc..), who knows

noggienoo · 23 October 2004 at 1:09AM

Well actually I did write to them saying, hey i didnt tell you about loan and part time job and they said I could lodge an appeal saying what limit I require, why, income and loads of other details, should i go for as much blagging as possible, i'm just a bit disheartened by their initial response and I can't imagine them increasing it at all now I have already applied.

smartsaver · 23 October 2004 at 2:04AM

I'd give them as much extra info as you can to try to get the limit raised. If they won't raise the limit - the credit check has ben done as far as I understand .. so worst case senario take the money offered and run :-/

charlie12 · 23 October 2004 at 2:31AM

Yeah it's worth going for the card anyway since the credit search has already been done, it's a useful card for SBTs

deemy2004 · 23 October 2004 at 5:04AM

Well actually I did write to them saying, hey i didnt tell you about loan and part time job and they said I could lodge an appeal saying what limit I require, why, income and loads of other details, should i go for as much blagging as possible, i'm just a bit disheartened by their initial response and I can't imagine them increasing it at all now I have already applied.

When I got turned down for the Capital One Circle card a couple of years back. I sent them a detailed letter about why I was a good credit risk and that they should give me a card. I also certified the letter contents of the letter as being true statement of the facts, and got my card a few weeks later, 10k limit.

Credit Card Contractual Obligations

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