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  • FIRST POST
    • AG47
    • By AG47 12th Jun 17, 5:32 AM
    • 614Posts
    • 147Thanks
    AG47
    Increase credit limit?
    • #1
    • 12th Jun 17, 5:32 AM
    Increase credit limit? 12th Jun 17 at 5:32 AM
    Was given an £8k limit when applied for card, but want to increase it.

    What's the best way to go about it please?

    It's not been a year yet, should I wait for the 1yr anniversary?

    I have been using the card a lot and always pay it off in time, well at least the minimum, it's zero % for a while.
    Nothing has been fixed since 2008, it was just pushed into the future
Page 1
    • zx81
    • By zx81 12th Jun 17, 5:56 AM
    • 14,086 Posts
    • 14,774 Thanks
    zx81
    • #2
    • 12th Jun 17, 5:56 AM
    • #2
    • 12th Jun 17, 5:56 AM
    Simply phone up and ask them.
    • vacheron
    • By vacheron 12th Jun 17, 7:32 AM
    • 721 Posts
    • 645 Thanks
    vacheron
    • #3
    • 12th Jun 17, 7:32 AM
    • #3
    • 12th Jun 17, 7:32 AM
    Many cards with online management will have an option to request an credit limit increase through their website. That will tell you when you apply if you have been rejected because of any mandatory time limit which is required so you'll know when to try again.

    However if the card is with Sainsburys expect to be rejected regardless, then wait about 1-2 months and then they will decide to offer you the same credit limit increase "out of the blue" in the post. This has happened to me 3 times since I received mine!
    Last edited by vacheron; 12-06-2017 at 7:40 AM.
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
    • AG47
    • By AG47 12th Jun 17, 8:23 AM
    • 614 Posts
    • 147 Thanks
    AG47
    • #4
    • 12th Jun 17, 8:23 AM
    • #4
    • 12th Jun 17, 8:23 AM
    Thanks, is it better to ask for a little increase?
    Nothing has been fixed since 2008, it was just pushed into the future
    • bengalknights
    • By bengalknights 12th Jun 17, 9:16 AM
    • 4,158 Posts
    • 1,519 Thanks
    bengalknights
    • #5
    • 12th Jun 17, 9:16 AM
    • #5
    • 12th Jun 17, 9:16 AM
    It depends if its via online request try 15% increase
    • Candyapple
    • By Candyapple 12th Jun 17, 10:27 AM
    • 2,479 Posts
    • 1,850 Thanks
    Candyapple
    • #6
    • 12th Jun 17, 10:27 AM
    • #6
    • 12th Jun 17, 10:27 AM
    It all depends on who owns the card. If it's Santander, Tesco or MBNA the rules are different for each supplier.
    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
    • AG47
    • By AG47 14th Jun 17, 6:43 PM
    • 614 Posts
    • 147 Thanks
    AG47
    • #7
    • 14th Jun 17, 6:43 PM
    • #7
    • 14th Jun 17, 6:43 PM
    I'm worried I will ask and then scupper future chances
    Nothing has been fixed since 2008, it was just pushed into the future
    • adindas
    • By adindas 14th Jun 17, 6:55 PM
    • 3,313 Posts
    • 1,640 Thanks
    adindas
    • #8
    • 14th Jun 17, 6:55 PM
    • #8
    • 14th Jun 17, 6:55 PM
    Similar case with credit increase:

    I have two credittcards with santanders

    The first which I got more than a year ago is about £7000

    The second one is Santander zero with fee free cash withdrawal abroad which I have had it for about seven year with the limit of £ 500.

    I wanted to cancel the fist one as I do not need it anymore.
    I have read somewhere else that with Santander, when you have two credit cards with them and you cancel one, you could ask them to increase the limit of the other card which you still have (e.g the second one.

    I wonder how common is the policy ? What to say in case you wanted to do that to increase the chance to be approved ?

    Thanks
    • vacheron
    • By vacheron 14th Jun 17, 7:41 PM
    • 721 Posts
    • 645 Thanks
    vacheron
    • #9
    • 14th Jun 17, 7:41 PM
    • #9
    • 14th Jun 17, 7:41 PM
    ..........,
    I wanted to cancel the fist one as I do not need it anymore.
    I have read somewhere else that with Santander, when you have two credit cards with them and you cancel one, you could ask them to increase the limit of the other card which you still have (e.g the second one.

    I wonder how common is the policy ? What to say in case you wanted to do that to increase the chance to be approved ?

    Thanks
    Originally posted by adindas
    I did this with Tesco. Rang to cancel one card and asked if the credit limit could be transferred to the other one. The advisor had to refer it but it was sorted with a call back in less than 2 hours.
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
    • Candyapple
    • By Candyapple 15th Jun 17, 1:33 PM
    • 2,479 Posts
    • 1,850 Thanks
    Candyapple
    I'm worried I will ask and then scupper future chances
    Originally posted by AG47
    Why don't you answer the question of who is the card provider first?



    Similar case with credit increase:

    I have two credittcards with santanders

    The first which I got more than a year ago is about £7000

    The second one is Santander zero with fee free cash withdrawal abroad which I have had it for about seven year with the limit of £ 500.

    I wanted to cancel the fist one as I do not need it anymore.
    I have read somewhere else that with Santander, when you have two credit cards with them and you cancel one, you could ask them to increase the limit of the other card which you still have (e.g the second one.

    I wonder how common is the policy ? What to say in case you wanted to do that to increase the chance to be approved ?

    Thanks
    Originally posted by adindas
    Santander have always been a strange bunch in my experience - rather than keep existing customers they would rather you close accounts with them and if you wanted to change your credit card say you held the 'All in One Credit Card' with them and wanted to switch it to the 'Zero Credit Card' they wouldn't do this - instead telling you that you'd need to apply separately for it. Also, if you dare call them to ask for a credit limit increase when you hold 1 card with them, they are a miserable bunch at the best of times and you'll get the Spanish inquisition and I'm pretty sure they also did a credit search on me too at the time. Based on that, I wouldn't hold much stock as to them complying with your request.

    If you do try it, please report back what happened.
    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
    • eskbanker
    • By eskbanker 15th Jun 17, 3:50 PM
    • 5,800 Posts
    • 5,684 Thanks
    eskbanker
    you'll get the Spanish inquisition
    Originally posted by Candyapple
    Perhaps when seeking concessions from Santander you should expect the Spanish inquisition?

    Their weapons are fear, surprise, and ruthless [in]efficiency...and an almost fanatical devotion to the terms and conditions....
    • YorkshireBoy
    • By YorkshireBoy 15th Jun 17, 6:22 PM
    • 29,531 Posts
    • 17,326 Thanks
    YorkshireBoy
    Similar case with credit increase:

    I have two credittcards with santanders

    The first which I got more than a year ago is about £7000

    The second one is Santander zero with fee free cash withdrawal abroad which I have had it for about seven year with the limit of £ 500.

    I wanted to cancel the fist one as I do not need it anymore.
    I have read somewhere else that with Santander, when you have two credit cards with them and you cancel one, you could ask them to increase the limit of the other card which you still have (e.g the second one.

    I wonder how common is the policy ? What to say in case you wanted to do that to increase the chance to be approved ?

    Thanks
    Originally posted by adindas
    The best approach is to ask them to shuffle limits over, leaving just £500 or whatever on the one you want to close...then close it when you've verified the limit has been swapped over.

    With a bit of luck you won't have a £500 limit card shown on your credit file...no guarantees though!
    • AG47
    • By AG47 27th Jun 17, 1:01 PM
    • 614 Posts
    • 147 Thanks
    AG47
    I didn't do anything but got a letter saying it's increased from £8k to £8.5k

    Can I ask now to increase a little more than that or better to wait?

    Maybe next year after good credit history I could ask?
    Nothing has been fixed since 2008, it was just pushed into the future
    • Sncjw
    • By Sncjw 27th Jun 17, 6:12 PM
    • 1,469 Posts
    • 871 Thanks
    Sncjw
    Do you really need that high of a limit. Asking to increase it after they have done so looks like your desperate
    • KILL BILL
    • By KILL BILL 27th Jun 17, 6:25 PM
    • 2,088 Posts
    • 1,284 Thanks
    KILL BILL
    6 months ?

    then ask for an increase
    • nic_c
    • By nic_c 22nd Oct 17, 1:05 PM
    • 1,088 Posts
    • 620 Thanks
    nic_c
    Many cards with online management will have an option to request an credit limit increase through their website. That will tell you when you apply if you have been rejected because of any mandatory time limit which is required so you'll know when to try again.

    However if the card is with Sainsburys expect to be rejected regardless, then wait about 1-2 months and then they will decide to offer you the same credit limit increase "out of the blue" in the post. This has happened to me 3 times since I received mine!
    Originally posted by vacheron
    Well just asked for an increase with Sainsburys, so know what to expect now. Maybe I should have applied for the increase a few months ago . The website says a request can happen once an account has been open 6 months, I'd assumed 1 year so haven't tried before.

    Regarding Santander, I have had a Zero card for 6 years and got an Everyday card earlier this year. Did query whether I could reduce the Zero card by an amount and increase the everyday card by the same - they said no, though I could increase the Zero card if I wanted. Maybe they are getting wise to me heavily using 0% periods and paying it off once that is ending.
    • chappers
    • By chappers 22nd Oct 17, 4:12 PM
    • 2,948 Posts
    • 1,698 Thanks
    chappers
    Perhaps when seeking concessions from Santander you should expect the Spanish inquisition?

    Their weapons are fear, surprise, and ruthless [in]efficiency...and an almost fanatical devotion to the terms and conditions....
    Originally posted by eskbanker
    otherwise known as w*****s.
    I think I can safely say they are the worst company I have ever had the misfortune to have to deal with. I used to hold 4 different accounts with Abbey national which were taken over by Santander.
    Only our mortgage survives and that is because in 20 odd years I have never had to speak with anyone about it.
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