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  • FIRST POST
    • wiseonesomeofthetime
    • By wiseonesomeofthetime 6th Mar 17, 6:59 PM
    • 35Posts
    • 16Thanks
    wiseonesomeofthetime
    AA Credit Limit Increase - No Need To Ask!
    • #1
    • 6th Mar 17, 6:59 PM
    AA Credit Limit Increase - No Need To Ask! 6th Mar 17 at 6:59 PM
    Had an AA 0% Balance Transfer card with a 4,400 limit and used it to its full potential for that BT, which is now cleared to a zero balance.

    Been on 0 balance for quite a while now, so what do AA do? Increase my limit by another 4k to aid me with my card spending and management of that 0 balance, without even asking!

    And we wonder why many people end up in debt and struggle to repay when they haven't the willpower to ignore this free money and feel encouraged to spend, spend, spend!

    While it may make my credit utilisation look good for now, I feel it may scupper me in the future when seeking new deals.

    As not seeking any further finance options at the moment, to allow a settled credit history to form again after stoozing and multiple bank switches to reap four figure rewards, will ponder about my next move over time.

    What would YOU do though?
Page 1
    • zx81
    • By zx81 6th Mar 17, 7:19 PM
    • 11,217 Posts
    • 11,178 Thanks
    zx81
    • #2
    • 6th Mar 17, 7:19 PM
    • #2
    • 6th Mar 17, 7:19 PM
    I'd take it. Your current limit is quite low.

    But it needs to be whatever you feel comfortable with.
    • Shakin Steve
    • By Shakin Steve 6th Mar 17, 7:41 PM
    • 694 Posts
    • 488 Thanks
    Shakin Steve
    • #3
    • 6th Mar 17, 7:41 PM
    • #3
    • 6th Mar 17, 7:41 PM
    I thought the days of cc providers increasing the limit were over. I was under the impression that they at least had to run it by you first.
    I came into this world with nothing and I've got most of it left.
    • WillPS
    • By WillPS 6th Mar 17, 7:53 PM
    • 148 Posts
    • 78 Thanks
    WillPS
    • #4
    • 6th Mar 17, 7:53 PM
    • #4
    • 6th Mar 17, 7:53 PM
    In the last 2 years I have had two credit limit increases from Amex, 1 from Natwest and another from Tesco - all of them unrequested but I was happy to accept.

    The Tesco account still has a promotional balance transfer on it, and they seem to offer a balance transfer every month on the remaining limit.
    • YorkshireBoy
    • By YorkshireBoy 6th Mar 17, 9:48 PM
    • 28,944 Posts
    • 16,717 Thanks
    YorkshireBoy
    • #5
    • 6th Mar 17, 9:48 PM
    • #5
    • 6th Mar 17, 9:48 PM
    I thought the days of cc providers increasing the limit were over. I was under the impression that they at least had to run it by you first.
    Originally posted by Shakin Steve
    If the OP had got the same increase letter I've just got for my AA card, that's exactly what they've done. They say the increase will take effect from 1st April, if I don't call to decline it, and in my case they're doubling it from 5K to 10K.

    I'm half way through a circa 22 month fast stooz so probably still have a 4K+ balance. Will have to dig out my paperwork to see if there was a 60/90 day window for 0% no-fee BTs all those months ago. If not, then that's another 5K+ heading for the stooz pot!
    Last edited by YorkshireBoy; 06-03-2017 at 9:56 PM.
    • adamh87
    • By adamh87 6th Mar 17, 10:22 PM
    • 26 Posts
    • 4 Thanks
    adamh87
    • #6
    • 6th Mar 17, 10:22 PM
    • #6
    • 6th Mar 17, 10:22 PM
    What can you usefully use this money for? I'm in a similar position and being offered very cheap money transfers (1.9% fee for a 12 month loan), what can you do with this - pension contributions?
    • YorkshireBoy
    • By YorkshireBoy 6th Mar 17, 10:24 PM
    • 28,944 Posts
    • 16,717 Thanks
    YorkshireBoy
    • #7
    • 6th Mar 17, 10:24 PM
    • #7
    • 6th Mar 17, 10:24 PM
    What can you usefully use this money for? I'm in a similar position and being offered very cheap money transfers (1.9% fee for a 12 month loan), what can you do with this - pension contributions?
    Originally posted by adamh87
    Personally, I don't take BTs unless they're fee-free. Aren't there still 6 or 7 of these cards available?

    Others do pay the fees, and they use the funds for P2P etc, where the rewards (and risks!) are greater.
    • adamh87
    • By adamh87 12th Mar 17, 11:30 AM
    • 26 Posts
    • 4 Thanks
    adamh87
    • #8
    • 12th Mar 17, 11:30 AM
    • #8
    • 12th Mar 17, 11:30 AM
    Moving it into P2P seems a little risky (defaults etc). Wouldn't it be simpler to bung the money into your pension?
    • bigadaj
    • By bigadaj 12th Mar 17, 12:10 PM
    • 8,762 Posts
    • 5,551 Thanks
    bigadaj
    • #9
    • 12th Mar 17, 12:10 PM
    • #9
    • 12th Mar 17, 12:10 PM
    Moving it into P2P seems a little risky (defaults etc). Wouldn't it be simpler to bung the money into your pension?
    Originally posted by adamh87
    Sounds like you're not too experienced investing wise, p2p is probably slightly lower on the risk scale than equities, which is presumably what you would be putting pension contributions into. There's obviously tax relief on the pension contributions but losses can't be written off against income as can be done with p2p.
    Last edited by bigadaj; 12-03-2017 at 12:15 PM.
    • jonesMUFCforever
    • By jonesMUFCforever 12th Mar 17, 12:49 PM
    • 23,614 Posts
    • 10,892 Thanks
    jonesMUFCforever
    Nationwide seem to do do it the other way round - ie they send me a letter saying if I want to accept a higher limit then I have to telephone them.
    Did this last year but won't bother again as I only use it overseas these days.
    What goes around - comes around
    give lots and you will always receive lots
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