Low Credit Limit

Bobby_Peel

Hi, hope your all well.

I applied for a HSBC Credit Card as I have £900 on one CC and £1700 on another and wished to transfer both these balances onto the HSBC.

I have had a few CC's in the past and with the two I have now I have limits of around £5000 and £7000.

I have a loan I always have paid and over the past five years have transferred balances on credit cards taking advantages of their 0% deals. I would say in the past five years I may of missed three repayments but this is usually to me forgetting or getting dates mixed up.

So at the moment I would think my credit is the best it could be as I am paying everything off on time etc.

I got a call today from HSBC about that application and they offered me a credit limit of £1550. I was quite surprised to be honest cause the lowest I think I have ever been given at the start of a CC is £3000.

Is there any reason for this? I've just read that the CC Companies might of seen I just transfer balances and don't spend anything on them, could this be the reason?

Thanks

normanmark

A lot of companies are not being so generous with their limits of late due to the global economic conditions.

ALICIA21

Yeah you really need to read what your getting into

clio

Spam Alicia21 is not allowed - so goodbye *reported*

Bobby_Peel

Thanks for the help.