Highest credit limits for new applications

gingernut1

Does anyone know whether any companies will give a credit limit of £8000 for a new application. I have £8k on a Virgin which is currently getting 0% till April but nearer to the time I want to change it to one of the long term 0% deals (ie.15%) but don't want to apply if they never normally give credit limits that high to start with. My credit rating is pretty good I think? I did an experian report and had 34% of my credit 'allowance' being used. Not sure if that is good or not but I don't miss payment etc

gingernut1

Sorry, I meant 15 months at 0%!!!

chattychappy

MBNA (but you already have Virgin), Natwest and Barclaycard all gave me higher limits than £8000 on initial application.

I think that once you've passed the various credit checks/scores etc a key influence on your assigned limit is what you put down for your income.

I think my "used" figure was about the same as yours.

gingernut1

Thanks, I think I am starting to run out of cards though! I have a Nat West and Bcard, both with zero balance (only just cleared). I wonder if they will take on the debt and offer a good apr. Thankfully I am earning well at the moment, £31k. (still have so much debt I'm skint!!)

Stinkybell

Lenders are being much tighter with their cash at the moment - you'd probably be best moving it to the Barclaycard 6.9% for life deal if you already have a decent limit with them, and close down some of your other unused cards (ensuring you check for any retention deals they may offer)

gingernut1

I have about 6900 available on nat west cc and 3000 on bcard, I might just approach both of them. Nat west have offered 9.9% life of balance with no fee, I might see what bcard are offering. 9.9% seems high though but I suppose it offers stability and I can just get on with paying it off?

Moggles_2

When it comes to credit limits, lenders do not disclose the criteria they use to decide. Your available credit in relation to your income is likely to be a factor though.

May I ask which credit cards - besides Virgin - you have at the mo and what credit limits you were handed on application? That's normally a pretty good guide, provided that you haven't requested a credit limit reduction or suffered one.

gingernut1

My debts are 8k on Virgin 0% till April, 8200 on RBS on 9.9% life. I have two hsbc's (hubby and mine), mine at 2000 on 0% till March and his at 1500 on 17.9%.

I have empty nat west (6900) and bcard (3000).

Moggles_2

gingernut1 wrote: »

I think I am starting to run out of cards though! I have a Nat West and Bcard, both with zero balance (only just cleared). I wonder if they will take on the debt and offer a good apr. Thankfully I am earning well at the moment, £31k. (still have so much debt I'm skint!!)

The Halifax Plus credit card is a straight forward, no-strings deal which is not linked to your other cc accounts.

13 months at 0% is currently available to new customers on balance transfers made in the first 90 days. There's a 3% BT fee.
IME (and from feedback here), credit limits are generous and the minimum monthly payment is just 1% of the balance shifted

http://www.halifax.co.uk/creditcards/pluscard136.aspifaxith

gingernut1

Thanks, I'll have a look!

Danny_G

gingernut1 wrote: »

My debts are 8k on Virgin 0% till April, 8200 on RBS on 9.9% life. I have two hsbc's (hubby and mine), mine at 2000 on 0% till March and his at 1500 on 17.9%.

I have empty nat west (6900) and bcard (3000).

£8000 and £8200 of debt? what you been buying