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  • FIRST POST
    • Seanscott90
    • By Seanscott90 19th May 17, 1:50 PM
    • 1Posts
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    Seanscott90
    Credit Card limits
    • #1
    • 19th May 17, 1:50 PM
    Credit Card limits 19th May 17 at 1:50 PM
    I have recently been looking at transferring my credit card balance, looking at the best 0% interest deals etc. I took Barclaycard 18 months at 0%. However, I now see that my card will only have a limit of £400, but i need more so if can transfer balance. I contacted barclays to see if they can increase it but they say they can only make a decision when I call to activate it. All seems a bit pointless if my limit is less than the balance I want to transfer, can anyone give me information on this? Thanks
Page 1
    • Ebe Scrooge
    • By Ebe Scrooge 19th May 17, 1:58 PM
    • 3,673 Posts
    • 3,044 Thanks
    Ebe Scrooge
    • #2
    • 19th May 17, 1:58 PM
    • #2
    • 19th May 17, 1:58 PM
    Accept the card, transfer as much as you can. Then apply for another card - MBNA tend to have a reputation for giving fairly high limits. But don't go applying for any more - more than a couple of applications within a short space of time begins to negatively affect your credit file.
    I may not know much about art, but I know what I like.
    • Candyapple
    • By Candyapple 19th May 17, 2:29 PM
    • 2,034 Posts
    • 1,580 Thanks
    Candyapple
    • #3
    • 19th May 17, 2:29 PM
    • #3
    • 19th May 17, 2:29 PM
    Read this:
    http://www.moneysavingexpert.com/credit-cards/bad-credit-rating

    If you only received a low limit of £400, this suggests you have a poor credit history, in which case definitely don't cancel the Barclaycard - transfer as much as you can and any remaining balance you will need to make more payments towards by either:
    a) increasing your income
    b) reducing your outgoings

    Or a combination of both. It doesn't sound like you'd be eligible for any other cards other subprime cards which often don't have any offers on them. However, check to be sure:

    https://www.moneysavingexpert.com/eligibility/credit-cards/

    By the way, no card provider is going to increase your credit limit from the moment you have opened your account - you need to wait minimum 6 months after opening and running the account so the lender so can see some history. Some lenders won't even allow any limit increases until 12 months have passed.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • SuzieSue
    • By SuzieSue 19th May 17, 6:25 PM
    • 3,556 Posts
    • 3,872 Thanks
    SuzieSue
    • #4
    • 19th May 17, 6:25 PM
    • #4
    • 19th May 17, 6:25 PM
    My husband applied for several cards a couple of weeks ago and Barclaycard gave him by far the lowest credit limit (less than a quarter of the highest lender).

    He got the highest from Tesco then Virgin then Lloyds then TSB then Sainsburys and then Barclaycard.

    He took it personally until he got the other limits and then realised that Barclaycard are probably not looking to increase market share at the moment.
    • stuart30
    • By stuart30 19th May 17, 7:16 PM
    • 495 Posts
    • 213 Thanks
    stuart30
    • #5
    • 19th May 17, 7:16 PM
    • #5
    • 19th May 17, 7:16 PM
    My husband applied for several cards a couple of weeks ago and Barclaycard gave him by far the lowest credit limit (less than a quarter of the highest lender).

    He got the highest from Tesco then Virgin then Lloyds then TSB then Sainsburys and then Barclaycard.

    He took it personally until he got the other limits and then realised that Barclaycard are probably not looking to increase market share at the moment.
    Originally posted by SuzieSue

    Well i'm the opposite..Tesco offers £1500 limit and Barclaycard who i applied to after offered £3500 and that's coming from having sub prime cards.

    No logic at all how they reach there decisions..
    • Lith
    • By Lith 20th May 17, 2:02 AM
    • 854 Posts
    • 237 Thanks
    Lith
    • #6
    • 20th May 17, 2:02 AM
    • #6
    • 20th May 17, 2:02 AM
    Limits are a weird one...


    Capital one gave me a £200 Limit... (disgusting)
    Barclays? £700....

    ^-- Don't use them at all.

    But Halifax & Lloyd's both gave me £3000

    HSBC £5000


    And my biggest one is MBNA £18000 :O
    HSBC (Main A/C)
    Halifax Back up A/C
    Lloyds (Spending) A/C
    RBS Back up A/C
    Barclays Old A/C
    Nationwide Old A/C
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