Credit Limit help please

Janetew

I was given a credit limit of £5,700 when I took out my Tesco 0% on purchases card in January. I could do with upting this by a couple of thousand to see me through to the end of the deal and to the end of my regular 7% saver into which I'm putting the money.

I've never had to ask for an increase in credit limit before. Are there any issues in doing this?

Thanks in advance

brians_daughter

If you dont ask you dont get! Tesco's website states you can ask for limit increase so it must be something they consider on request rather than at set periods

gazelle8760

Janetew wrote: »

I was given a credit limit of £5,700 when I took out my Tesco 0% on purchases card in January. I could do with upting this by a couple of thousand to see me through to the end of the deal and to the end of my regular 7% saver into which I'm putting the money.

I've never had to ask for an increase in credit limit before. Are there any issues in doing this?

Thanks in advance

A couple of thousand??????????

I think you were lucky to be given what you were, with the current state of affairs in this country, they are suppozed to be cutting down on things, taking peoples overdrafts away, or reducing them drastically, so I am surprized to see people getting such high limits.

Credit Card Companies normally say wait six months before asking for a limit increase, I am not sure about Tesco, but Nationwide state on their on-line banking, that when you ask for a Credit Increase, they will check files of a Credit Bureau, and also any other checks deamed necessary, and this will help decide if to increase or not, if they do increase, I would say you may get a few hundred, but I would doubt you would get a few thousand, as they do also say, they regularly check with the credit bureau to see if your limit needs adjusting, this could mean either up or down, so you would have to see how Tesco goes about their increases, but as said I would have thought they would be all pretty much on a par, so good luck.

The Gazelle

Any

Janetew wrote: »

I was given a credit limit of £5,700 when I took out my Tesco 0% on purchases card in January. I could do with upting this by a couple of thousand to see me through to the end of the deal and to the end of my regular 7% saver into which I'm putting the money.

I've never had to ask for an increase in credit limit before. Are there any issues in doing this?

Thanks in advance

I also got this credit card about the same time as you and they gave me £5500. Then they've upped it themselves, but as I only use this one for collecting points I asked them to lower it again (didn't want too much available credit as I didn't want to jeopardise the chance of getting new BT card..) So I would say they can be generous.

As has been said before - you don't ask, you don't get.

Any

gazelle8760 wrote: »

A couple of thousand??????????



The Gazelle

Yes I know it's supposed to be credit crunch, but I just got extra £1200 from M&S without asking...

I did pay off quite a large amount though in one off payment (to make up some space on the card) - the next thing I know I have a letter advising me of extra credit limit!

naijapower

Any wrote: »

I also got this credit card about the same time as you and they gave me £5500. Then they've upped it themselves, but as I only use this one for collecting points I asked them to lower it again (didn't want too much available credit as I didn't want to jeopardise the chance of getting new BT card..) So I would say they can be generous.

As has been said before - you don't ask, you don't get.

How much did they up your limit by out of interest

LeeSouthEast

Barclaycard gave me a measly £500 increase when I phoned and asked. Not impressed lol.

Nice_guy

I got a credit limit with Tesco of 6k. When I rang them to up the limit they told me that it is not possible to up the limit while in the 0% deal. But as others say if you don't ask you won't get. They could have been trying to tell me in as nice way as possible that they think i'm not good for the extra limit! (I had spent vitually all the 6k within a month lol)

stella2009

Any wrote: »

I also got this credit card about the same time as you and they gave me £5500. Then they've upped it themselves, but as I only use this one for collecting points I asked them to lower it again (didn't want too much available credit as I didn't want to jeopardise the chance of getting new BT card..) So I would say they can be generous.

As has been said before - you don't ask, you don't get.

How long had you had the card before they gave you the increase??

Anyone else have a Tesco card that had an automatic limit increase that can advise in what month??

jamesd

Janetew, if they don't provide the limit you're after you can consider other cards as well. With excellent to good credit score and no debt troubles you might reasonably expect to get about half of your gross income in combined credit limit across all of the credit cards you have.

gazelle8760, it's harder than it used to be but it's still easy to get quite large limits if you're not having debt trouble and have a reasonably stable life for a few years.

draconian_2

stella2009 wrote: »

How long had you had the card before they gave you the increase??

Anyone else have a Tesco card that had an automatic limit increase that can advise in what month??

When I was given mine a while back they gave me a puny £4500 and as I wanted to xfer off my egg a lot more I wasn't able to do it how I would have liked. However I paid it off and then started using it as a card - whilst in my account asked for an uplift in limit and they only gave me £1000.

Still now at £5500 but they offered me a 3.99% B/T so I took another more expensive loan to this and will pay it off in a few months.

So hope some of this helps!