What credit limit will i get?

gazza975526570

ive just applied for the new capitol one credit card and been accepted on line and am awaiting the card and notification of credit limit.

i recently cancelled two unused cards - one had a a limit of 5500 the other 7000.
i currently have an MBNA with a 11000 limit with about 1800 on it and halifax one with a 9000 limit with nothing on it (plan on cancelling this one soon)

WHat credit limit am i likely to be offered? im wanting 5k minimum as looking to arrange to transfer something else too.
Has anyone got their card? what limits did you get?

$17mma

I have a Cap! with a £7.5 limit on it, it all depends on your credit file and how they score their customers on what limit you will get.

accountnurse

After I signed and returned the agreement (but before they'd received it) I phoned to ask when I could do a balance transfer, they told me then what my credit limit had initially been set at- £4,500
Maybe try phoning them? (Everyone I've spoken to at Capital One has been really helpful and pleasant so far..)

newleaf

It depends on your salary, and your credit record/score. They've just given me £11,000 - probably because I've had one of their cards before and they made an absolute fortune out of me (but they don't know the tide has now turned heheheh :shhh: )

goodscams

I got £9000

humfer

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WHat credit limit am i likely to be offered??[/QUOTE]

I think this is the biggest problem with applying for credit cards. Nowadays the credit limit plays such a big factor in choosing which one to take and you don't really want to go through the hassle of applying only to find out too late that the credit limit is peanuts that they the card will be useless to you

I do think that some companies do let you know straight away though - cannot recommend but may have been either Egg or Sainsburys

humfer

Thinking more about it, it may be something these credit check companies should look at - in terms of linking up with the credit card companies, so that for instance if you are paying so much a month to have updated information, you could use this information somewhere on the credit card application form, which may at least give you an indicative credit limit figure

yeslek

newleaf wrote:

It depends on your salary, and your credit record/score. They've just given me £11,000 - probably because I've had one of their cards before and they made an absolute fortune out of me (but they don't know the tide has now turned heheheh :shhh: )

thats what i dont get, i have more avalible credit on one card than my wage is in a year
then i have other cards with lesser limits
basically, if it wasnt for my student loan i'd have more credit avalible than what i earn in a year...surely thats silly lending?

jojo1978_3

It also depends upon the criteria for the card, if you apply for one with a card with a fantastic offer, you have to have a great credit history/score, otherwise you stand a high chance of being declined. I know that putting balance transfers through on your application can also affect the outcome of what the credit limit would be, eg capitalone say that if you do a balance transfer on application the max credit limit you can have will be £25000, whereas, if no balance transfers on application, max credit limit would be £10000.
But it really does boil down to your credit scoring and how many other active(even if no amount owing) credit cards you have.