barclaycard

brookerbabyisababy

I have a credit limit of £4000 with barclaycard which I never use, but they keep increasing it month on month. I wanted to know is it possible to decrease the credit limit to a more sensible one and apply for another card. I wanted to know is it possible to increase the limit on the barclaycard later or will they refuse. Also is it possible to change to platinum or do you have to make a completely new application with them for it.

bethanyrayne

brookerbabyisababy wrote: »

I have a credit limit of £4000 with barclaycard which I never use, but they keep increasing it month on month. I wanted to know is it possible to decrease the credit limit to a more sensible one and apply for another card. I wanted to know is it possible to increase the limit on the barclaycard later or will they refuse. Also is it possible to change to platinum or do you have to make a completely new application with them for it.

1)Ring them and ask them to reduce limit and not to increase it in the future.

2)You can apply for a Platinum Barclaycard as an addition to or replace the one you already have.

3) You can ask to increase the limit at a later date but the may refuse to do so.

ih8stress

Mine was always too high, so I asked them to decrease it, which they did.

However when I tried to increase it over Christmas they were reluctant to increase it to the original amount (despite my circumstances not changing) and I had to settle for a lower limit, which only lasted for an agreed period (February).

They do seem to be lowering the limits lately as well.

HTH

Moggles_2

brookerbabyisababy wrote: »

I have a credit limit of £4000 with Barclaycard which I never use, but they keep increasing it month on month. I wanted to know is it possible to decrease the credit limit to a more sensible one and apply for another card. I wanted to know is it possible to increase the limit on the Barclaycard later or will they refuse?

Obviously, I don't know your annual income, but I would think carefully before you reduce a limit which is already modest. Lowering limits can affect future applications for credit, if you overdo it.

Be aware too, it isn't always possible to re-instate some of the old limit should you change your mind later

MABLE

Moggles wrote: »

Obviously, I don't know your annual income, but I would think carefully before you reduce a limit which is already modest. Lowering limits can affect future applications for credit, if you overdo it.

Be aware too, it isn't always possible to re-instate some of the old limit should you change your mind later

I would hardly call a £4,000 credit limit modest. Get real

PROLIANT

MABLE wrote: »

I would hardly call a £4,000 credit limit modest. Get real

£4k in the current "recession" is a very good limit to have.

brookerbabyisababy

I didn't know lowering your limit could lower your credit score?

PROLIANT

brookerbabyisababy wrote: »

I didn't know lowering your limit could lower your credit score?

It does no such thing, the only thing that will do is change your debt to income ratio.

NickX

MABLE wrote: »

I would hardly call a £4,000 credit limit modest. Get real

Well it depends on your background.

To me this is a modest limit and I would be disappointed to be given this limit.

However, to others new to credit cards or who are using sub-prime cards, this may be seen as a rather generous limit.

daveboy

NickX wrote: »

To me this is a modest limit and I would be disappointed to be given this limit.

This is upper-class language for 'I am much better off than nearly everyone else on here".

NickX

daveboy wrote: »

This is upper-class language for 'I am much better off than nearly everyone else on here".

No its not.

There are often threads where people disclose their credit limits, and I think this is modest for people who have been involved with cards for a susbtantial period of time.

Oh, and Credit Limits don't have that much to do with wealth or income, it is your background with managing credit card accounts efficiently that makes for a decent Credit Rating and hence decent limits.