Life of Balance Transfers - help please re credit limit

Kawasaki9

Hi,

I would like to open a Life of Balance Transfer with a different card company, e.g. Sainsburys as advised by Martin. However, how can I be sure that they will allocate me the credit limit I require?

It's not a huge one, just £4.500 - but I don't want to go thru all the application and credit checks for them to turn round and only offer me a credit limit of £400, like Capital One did 12 months ago!!

Martin keeps saying that such a deal is the way to go, in order to save money and pay off the debt quickly, but I never hear him advise as to how it is possible to ascertain whether or not they will give me the credit limit I require in order to transfer it all over. When Cap One accepted me I was pleased, but when their letter arrived then it became clear they were only offering me a credit limit of 400 quid which was next to useless.

Hope someone can help

Kawasaki 9

moneyuser

You can't be sure of what credit limit you will get until they accept you, so no one will be able to tell you if you will or will not get the credit limit you require. The more credit you have the less likely you are to get a high limit. I have been lucky (?) in that I have always got the limit I have needed, but I would not be confident of getting a limit of 4,500 due to my salary and current available credit.

Is there a reason why C1 only give you £400? Bad history? Low salary? Too much credit already? You really have to look at all these factors and make a calculated decision.