Is a 10K+ limit hard to get?

sarahs999

I have found that over the years my CCs have automatically increased the limits (I've never asked for an increase). I've always managed them well and now my highest limit is 8k. Quite surprised that some people think 10k is easy and 'not high' - I think that's not true generally. 10k is quite high, in my experience, adn most of my friends too (and we all earn above the average too).

YorkshireBoy

rodent wrote: »

Disagree with your assement of possible Credit limit here, i know several people on 20-25K who have limits > 10K and on several accs !

Given on application, and not built up over a period of time?

OP should request a high BT fig on app to attempt to get a reasonable limit (ie 12-15K) in the hope that they will give 10K .....Of course personal circs will be a huge factor !

"Personal circs" meaning the Egg Money card being the only card showing on OP's credit file, and therefore visible to the underwriter, which doesn't have a £10K debt to transfer? (we've been here before haven't we? )

I actually consider 10K as a fairly low cl.

If I had a £1m+ property portfolio, a business or two, and a (presumably?) 6-figure income, I too would consider £10K a "fairly low cl". If, however, I earned £20K per annum, I'd be quite surprised to be given £10K+ straight off.

Take care!

456789

dancingphil wrote: »

Do they take credit cards when purchasing cars?

Someone I know tried using one recently the dealer said they could only take £1500 plus 2.5% charge

Can do as much as you want on a debit card afaik

NickX

dancingphil wrote: »

Do they take credit cards when purchasing cars?

It depends on the dealer. Some do, some will add a Credit Card surcharge.

Can depend how much you are spending and whether you have a part-exchange as to whether they apply the surcharge.

withabix

Barclaycard have recently reduced the credit limit on one of my cards to a massive £350 :rolleyes: and raised the APR to something similar to a store card!!

I hardly ever use the damn thing (mid-2008 sometime!). It's now so useless I don't even take it out of the house!!

Admittedly, I was up the creek without a paddle 7 years ago, but I'm now probably as creditworthy as you can be (no bad history at all remains on my credit file). I actually have healthy savings as well - for the first time in my 39 year life!!

John Lewis on the other hand increase my limit automatically every 3 months...

As for the OP's 'problem', I would say that getting a new card with a £10k limit in the current financial climate will be hard if not impossible on your salaries - purely because the lenders credit and affordability score targets have been raised quite a bit to minimise their risk exposure.

What about borrowing from your mortgage lender (if they will lend, of course)? Many lenders will give you a 'home owner loan' at their SVR or your current mortgage rate, over a term to suit you (eg 1-5 years). That's how I finance my car for work, which is then paid for by car allowance from my employer. At current interest rates, this is probably the cheapest feasible borrowing route.

clearing_out_my_pockets

As noted above, it's not impossible to get 10k on your salary; Abbey increased my limit to around 10k when I was on 25k p.a. But that was after I'd been with them for a while. In addition, you can't stipulate what credit limit you'll have BEFORE the application so I think your best bet is a loan IMHO

Neillgb

Just for reference.

My other half earns £11.5K and has an Mbna card with £10.4K limit . She also has other cards with approx £5K limit. She has almost faultless payment record(one late). She has had the card 2 years.

So to answer the OP, yes it is possible to get cc with good balance transfer offers although not immediately I guess . 2 years ain't too long to wait though.

Neillgb

NickX wrote: »

It depends on the dealer. Some do, some will add a Credit Card surcharge.

Can depend how much you are spending and whether you have a part-exchange as to whether they apply the surcharge.

I would imagine they will take milk vouchers at the moment!!

Tell them to stick their surcharge and knock another 10% off for being cheeky and try to get improved spec. Just before the deal goes through ask them to fill the tank up, and mean it!!

rodent

clearing_out_my_pockets wrote: »

In addition, you can't stipulate what credit limit you'll have BEFORE the application so I think your best bet is a loan IMHO

AAAAAAAAAAAAAAARRRRRRRRRRRRRRRRRRGGGGGGGGGGGGG!! :eek:

Get a loan ???
Why pay 6-12 % when you can have it at 0% ????
You cant stipulate cl ...agreed , but you CAN request cl by asking for a very large BT ....and (also partly in answer to YB on EM only , showing)
Mbna are very happy to help you pay off overdrafts etc....

I request 20K as a bt as standard, generally i dont get it , but 10, 12 15 18...are all perfectly acceptable to me

The Rodent

ytfcmad

clearing_out_my_pockets wrote: »

As noted above, it's not impossible to get 10k on your salary; Abbey increased my limit to around 10k when I was on 25k p.a. But that was after I'd been with them for a while. In addition, you can't stipulate what credit limit you'll have BEFORE the application so I think your best bet is a loan IMHO

This is the exact reason why we are in the !!!!, allowing people credit to levels they should never ever of been offered based on earnings.