Online application so-called 'instant decision'

Watson

carl310166 wrote:

I thought I would try and get a high credit limit when i applied yesterday.

Thanks for the reply. Good luck with the applications: I hope you'll post the results.

By the way,we don't bank with Lloyds.

Neither do I - and Lloyds was the only one of my three who turned me down!

Watson

YorkshireBoy

carl310166 wrote:

I thought i would try and get a high credit limit when i applied yesterday.

I didn't want to apply,then get offered 5k,i needed 10k,so i requested a 9900 balance transfer.The process may be automated,but my thinking was,i would do them a favour by taking out their card "IF" the could accomodate the transfer.

Of course,it was go pear shaped when the actual credit agreement comes through?

There are other people on the boards who might know for sure,but mine was just a guess.

By the way,we don't bank with Lloyds.

Give LTSB 48 hours to get the details set up, & then ring them to find out your credit limit.

You need to be "talking-up" the limit *before* you sign the credit agreement - not afterwards.

By the way, you must have a low debt/income ratio and/or a very high income to be accepted automatically from an online application as a non-current account holder. Either that, or they've not made their "new customer" targets for October yet?

Watson

YorkshireBoy wrote:

You need to be "talking-up" the limit *before* you sign the credit agreement - not afterwards.

Does that mean it is a good idea to fill in the balance transfer request part of the application - and to say you want to transfer a sizeable amount?

Watson

carl310166

YorkshireBoy wrote:

Give LTSB 48 hours to get the details set up, & then ring them to find out your credit limit.

You need to be "talking-up" the limit *before* you sign the credit agreement - not afterwards.

By the way, you must have a low debt/income ratio and/or a very high income to be accepted automatically from an online application as a non-current account holder. Either that, or they've not made their "new customer" targets for October yet?

After taking advice from the forum,i cancelled all my wifes credit cards earlier in the year,i also closed all mine,except my Tesco (for the points) card,i now have my Egg 8k limit zero balance (waiting for my anni in Jan) and Virgin 10k waiting to transfer,although i did apply a little too early as the 0% comes to an end in Jan,but i am a flapper,so i wanted to move it to a new card without sweating about it.

I wanted to be able to use my wife's 30k salary to be able to get some cards without problems,so i could transfer the Virgin to it (then cancel).

So she has no cards,plus with her salary,i was hopeing to get a good limit,but i didn't want to get one from the MBNA stable(incase they refused the Virgin transfer),so fingers crossed,the credit limit is at least 10k,as i requested that size balance transfer with the online application.

I will let you all know what happens either way.

smartsaver

ctm wrote:

Recently applied for an IF credit card. That got an instant Yes, and told my my credit limit too.

Ditto for my self and Mr Smartsaver and it was quite high considering our other 'debts' ...

CTT_2

I understood that LLoyds were now focusing on their own customers rather than non LLoyds cusotmers. I suppose if you have been with them for a long time they can build up a profile on you. Also it is easier for them to calculate the risk factor.

YorkshireBoy

Watson wrote:

Does that mean it is a good idea to fill in the balance transfer request part of the application - and to say you want to transfer a sizeable amount?

I generally let them know what I'm "looking for", although I'm not sure this is any use until you appeal a limit - ie, you can refer back to your original request.

However, you might want to check the individual providers' T&C's with regard to BT's. Some say they'll BT what they can from the limit they "set" for you, thus leaving you with an "extra card" because you haven't BT'd enough to close/settle the other card. Others will ring up and say they can't give you a high enough limit so nothing will happen until they receive instructions from you.

I've experienced both approaches this year, but can't remember which providers do what - sorry!

Watson

YorkshireBoy, thanks for the reply. Looks like next time I'll have nothing to lose (and possibly something to gain) if I do specify a balance transfer figure on the application. This time, it's too late...

Watson

No_6

Daughter applied for new Nat West card,
asked for a £1200 bt online.

Got an instant YES decision from Nat West.

Printed off the dozen or so sheets of toc's,
sent relevant one back and received her new card.

£485 limit !!

Was she chuffed, NOT.

Looks like my stooze pot will take a hit.
No 6

empfun

Milky_Mocha, I had an instant online decision when I applied last week for a Nationwide Credit Card. I was able to choose the credit limit that was offered as soon as I was accepted. I'm still waiting for the paperwork to arrive though. Cheers and all the best!