Anyone applied for a credit limit increase with Barclaycard recently?

jen_a_c

They have recently offered me a 6.9% for life of the balance deal and this would be ideal for a MBNA A&L card which is soon to expire on its 0% and no doubt become extortionate (my standard rate is 21.9%). Only problem is, my limit with B'card is £5000, and I already have a balance of £4000. My A&L card has a balance of £5k too, and a limit of £8.4k.

Anyone who has spoken to Barclaycard recently - did you get any sense of what their 'appetite' to increase limits is like? Do you think they'd be more likely to increase my limit if I told them I'd close the A&L card after repayment (effectively reducing total credit)?

I earn just over £36,000 and have held my Barclaycard for 7 years, 2 late payments during that time (oversights - rectified immediately).

Any thoughts?

Innocent_Guy

jen_a_c wrote: »

They have recently offered me a 6.9% for life of the balance deal and this would be ideal for a MBNA A&L card which is soon to expire on its 0% and no doubt become extortionate (my standard rate is 21.9%). Only problem is, my limit with B'card is £5000, and I already have a balance of £4000. My A&L card has a balance of £5k too, and a limit of £8.4k.

Anyone who has spoken to Barclaycard recently - did you get any sense of what their 'appetite' to increase limits is like? Do you think they'd be more likely to increase my limit if I told them I'd close the A&L card after repayment (effectively reducing total credit)?

I earn just over £36,000 and have held my Barclaycard for 7 years, 2 late payments during that time (oversights - rectified immediately).

Any thoughts?

Barclays are reducing people credit limits throughout all of there cards. They are also making it very difficult to get an increase at the moment. Call them and ask them to check your "limits"

starsky365

I spoke to them last night after finding BOS had slashed my limit. They wouldnt budge unless I was happy to go through all my finances with one of the supervisors and give extenuating circumstances for needing it. The nice lady did drop the interest to 6.9% for the life of balance for me.

I have got two Barclaycards tho...one was carried over from morgan stanley.

naijapower

might be a hard task cos they are currently reducing people's limits. Though worth a try

jen_a_c

Cheers for replies - I expected to hear as much. Might be worth a try though, they are willing to keep offering low rate BT deals so doesnt make much business sense to do that to someone they consider risky.

naijapower

I don't think they see you as risky. They problem here is that they are trying not give away or commit so much funds out due to crunch

jen_a_c

Hmmm, shall let you know how I get on!

Innocent_Guy

jen_a_c wrote: »

Hmmm, shall let you know how I get on!

Good luck..

Moggles_2

Perhaps I've misunderstood your post but, unless you're intending to clear the existing £4000 balance first, you would need a credit limit increase of £5k to accommodate the BT from
A & L as well.

You are unlikely to be offered more than £500 or so without a credit check, bank statements, proof of earnings etc., but there's no harm in asking of course.

Do you think they'd be more likely to increase my limit if I told them I'd close the A&L card after repayment (effectively reducing total credit)?

Computer says no, sorry.

jen_a_c

Yep, it'd be the £5k increase I'd be looking for! Unlikely I know, however even if they'd do a portion of this it'd reduce the interest I'd be paying with A&L.

Will probably try and sort it over the weekend.

Moggles_2

starsky365 wrote: »

I spoke to them last night after finding BOS had slashed my limit. They wouldn't budge ... I have got two Barclaycards though, one was carried over from Morgan Stanley.

Do you use your former Morgan Stanley Barclaycard? Have you considered consolidating the two cards? IME, B'card will sometimes switch the limit from an unused card to give you a more generous limit on the active one, provided that you agree to close down the unused card