Barclaycard Credit Limit - Should I Increase?

1603

I've had a Barclaycard Classic for just over three years now, it was and still is my only credit card. At the moment, I use the card and then pay off the balance in full every month - its just used to tide me over until pay day. I only have a limit of around £700 and am wondering whether to ask for an increase. It would be useful to sometimes put more on the card, for example a recently booked holiday which wouldn't have fitted on within this limit. I earn in excess of 20k and would only like to ask for an increase if its likely to get accepted.

Any ideas or thoughts on this, would an increase to say 1,500 be successful, and if not, what are the implications?

Also, would you request the increase online or over the phone? I quite like the idea of doing it online but as it takes around three days to get a response, wondered whether by doing it over the phone I would get an instant decision.

Many thanks.

fatboyonadiet

Think you will get an instant response over the phone, if you need it ask for it, don't if you don't! I had a high limit on my day-today card and think it meant me getting refused for another (or may have been a factor) as I had a lot of available credit to me already. If it's you're only card and you earn over 20k no problems with getting it increased.

Only ask for what you need I guess, if you need more ask for it! HTH.