Credit Limit Question

Flymatt

Hi Guys,

Apologies if this has been covered before, I couldn't seem to find exactly the info I was after.

I have about £2000 worth of debt on a number of credit cards, all of which are collectively costing me a fortune.

What i'd love to be able to do is to balance transfer the lot onto just one card giving me the chance to actually pay the darn thing off!

My problem is, when I apply for a card (I've done this once so far) my credit limit was £500. I was told that the main reason for not increasing my limit was due to the amount of 'credit accounts' I have under my name. Now, I will happily close about 3 of them in one fell swoop if I had a limit large enough to accommodate all of my outstanding balances, but I can't.

Has anyone else had this problem and could offer any advice?

Many thanks for whatever help you might be able to pass my way.

Cheers, Matt

Innocent_Guy

Hi there,

Not sure if this works if you haven't been declined however I would speak with the underwriting dept and advise them you intend to BT all your cards to them and will close the additional accounts if they were to ammend your credit limit. Best of luck

HTH

Andy_Ches

Flymatt wrote: »

Hi Guys,

Apologies if this has been covered before, I couldn't seem to find exactly the info I was after.

I have about £2000 worth of debt on a number of credit cards, all of which are collectively costing me a fortune.

What i'd love to be able to do is to balance transfer the lot onto just one card giving me the chance to actually pay the darn thing off!

My problem is, when I apply for a card (I've done this once so far) my credit limit was £500. I was told that the main reason for not increasing my limit was due to the amount of 'credit accounts' I have under my name. Now, I will happily close about 3 of them in one fell swoop if I had a limit large enough to accommodate all of my outstanding balances, but I can't.

Has anyone else had this problem and could offer any advice?

Many thanks for whatever help you might be able to pass my way.

Cheers, Matt

I've got 36 credit account on my credit file, albeit that 33 are closed and settled, I can't see how that matters.

duggie1982

Andy_Ches wrote: »

I've got 36 credit account on my credit file, albeit that 33 are closed and settled, I can't see how that matters.

Well post #2 explains this.

debtdestroyer007

settled accounts shouldn't affect it all.... the good news is they should you can handle credit sensibly

Andy_Ches

duggie1982 wrote: »

Well post #2 explains this.

Yes....I'm giving my opinion and comments also.