Does anyone still offer high credit limits?

chokri123

Evening all Moneysavers,

This question goes out to all fellow stoozers but particularly you hardcore ones. I have been stoozing for 18m or so and have never had any problems with getting 0% cards. When I first started, myself and the wife were usually offered £10k - £12k limits with cards such as FD, Lloyds etc but dont seem to have such luck anymore. My cred score is high, am on VR, never missed any payments etc.

Are there any 0% cards out there that people have applied for in the last 3m or so that have offered £10k -£15k limits?

What experiences do you hardcore stoozers have of applying for 0% cards recently and the limits you were given?

Thanks...

Ricardoro

Seems to be getting progressively tighter:-

very recent cards for me and Mrs Ric are

HSBC, 5750 and 5500
Mint, 5000 and 4600
NatWest, 2950 and 3150

in contrast last year we have had

A&L, 29200 and 10000
Cap One, 21000 and 17000

its getting very difficult to turn an honest profit !!

Clariman

That is an interesting question. Is it the lenders that are tightening up their procedures so that they can reduce their risk and act as responsible lenders ... or is it that a seasoned stoozer will begin to get a tarnished credit record which is impacting limits that they can achieve ? I think we need to look at both things rather than just the former.

Clariman

NeilW

Just had a Post Office Card sent through. The credit limit is a stonking £500.

I reckon the game will be over by the end of the year.

NeilW

NeilW

Clariman wrote:

That is an interesting question. Is it the lenders that are tightening up their procedures so that they can reduce their risk and act as responsible lenders ... or is it that a seasoned stoozer will begin to get a tarnished credit record which is impacting limits that they can achieve ? I think we need to look at both things rather than just the former.

Clariman

To be honest you can spot a switch merchant easily from the credit records, and they seem to respond to that by giving you a low initial credit limit and then raising it if you stick with them.

After all what they really want are those muppets who actually borrow on credit cards. Unfortunately you can't tell whether an individual is that sort of person from the credit history.

NeilW

sashacat

Halifax 1...£12900, A&L...£9000, but maybe this is because I am new to stoozing and hence haven't been switching cards. I have always paid my card off in full and had a good credit record. May be different now though, Inow have large amounts owing and I would expect to get lower limits. So I expect to have a problem when I need to switch.

M_Thomson

chokri123 wrote:

My cred score is high

How do you know this? Your score varies from Lender to lender. You can get scores from both equifax and experian but these are generic scores, not ones that credit card company's will use to assess your credit worthiness. You may have a good credit rating but you can't say for sure you credit score is high. Intrestingly in the States people have a way of getting a score from a company called Fair Isacc. Which is supposed a highly accurate in assessing wether lenders will grant credit. Seeing as we have the second highest amount of credit cards in circulation after America I wonder if we will be able to get that eventually.

Gambler

Need to move 2 cards with £14K on each. Is it best to apply for 2 new cards or try for £28K on one new card?

Thanks

Clariman

Gambler wrote:

Need to move 2 cards with £14K on each. Is it best to apply for 2 new cards or try for £28K on one new card?

Thanks

Unless you have a huge salary and a track record of getting limits like £28K (most will give £15K to £25K max), I would apply for 2 or 3 cards to try to get to that level.

Clariman