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  • FIRST POST
    • washtenaw
    • By washtenaw 10th Jul 17, 8:14 PM
    • 5Posts
    • 0Thanks
    washtenaw
    Credit Limit Increase with Outstanding Balance
    • #1
    • 10th Jul 17, 8:14 PM
    Credit Limit Increase with Outstanding Balance 10th Jul 17 at 8:14 PM
    I will be making a request for a credit limit increase on my Barclaycard soon.

    I recently had an increase on this card about 6 months ago and for the last 4 statements since then I have paid off my balance in full which was about £400-£500 each time.

    For the most recent statement and for the next I am considering not paying the balance off in full and only paying part of it or maybe just slightly more than the minimum payment.

    Will doing this (instead of paying my balance off in full as I have recently done) make a big difference in getting a credit limit increase accepted ? I am currently at £5,000 and want an increase to at least £8,000. If I only pay the minimum payments I will likely have an outstanding balance of approx £800-£900 when I request the increase, so only using a fraction of the £5,000 I have now anyway.

    I recently got an increase on my HSBC credit card from £5,000 to £8,000 and that was when I had an outstanding balance of about £1,000, so it obviously didn't make a difference in that situation, but that's another bank so who knows . . .

    I could easily pay the balances in full for the recent statement and for the next but if it's not going to make a difference in terms of a limit increase, then I might not bother . . .
Page 1
    • zx81
    • By zx81 10th Jul 17, 8:21 PM
    • 14,080 Posts
    • 14,768 Thanks
    zx81
    • #2
    • 10th Jul 17, 8:21 PM
    • #2
    • 10th Jul 17, 8:21 PM
    Clear in full. Starting to carry a balance will look like you're starting to struggle.
    • Nebulous2
    • By Nebulous2 11th Jul 17, 6:54 AM
    • 1,627 Posts
    • 988 Thanks
    Nebulous2
    • #3
    • 11th Jul 17, 6:54 AM
    • #3
    • 11th Jul 17, 6:54 AM
    I could easily pay the balances in full for the recent statement and for the next but if it's not going to make a difference in terms of a limit increase, then I might not bother . . .
    Originally posted by washtenaw
    It is generally always worth bothering if you aren't on a promotional 0% rate and you have the money. The interest soon racks up.

    £5k to £8k is a big jump. My last (unasked for) increase from Barclaycard was 15% It is very hard to second-guess them though. They'll do whatever the computer algorithm tells them to do.
    • wiseonesomeofthetime
    • By wiseonesomeofthetime 11th Jul 17, 8:30 AM
    • 130 Posts
    • 65 Thanks
    wiseonesomeofthetime
    • #4
    • 11th Jul 17, 8:30 AM
    • #4
    • 11th Jul 17, 8:30 AM
    Clear in full. Starting to carry a balance will look like you're starting to struggle.
    Originally posted by zx81
    Agree 100%


    I know it's none of our business, but why do you want that increase if you pay off in full each month anyway?


    Only logical answer I can come up with is to reduce the credit utilisation % while stoozing on 0% card.


    Am I right?
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