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Credit Card for newbie with no limits?

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Fairly quick and straightforward question... (i think)

Is there many credit card companies who will allow a newbie to make a first transaction of around £1,200 - if I could provide proof of repayment source within a year?

Was going to meet with my own bank, halifax over the possibility, anyone know my chance of success with them or is someone like capital one the way to go?

Comments

  • GaryTravers
    GaryTravers Posts: 45 Forumite
    credit card providers wont care how much an individual transaction is, as long as it doesnt exceed the limit they give you.

    so for example you may get a CC with a £2000 limit, you can spend that in 2000 transactions of £1, or 1 transaction of £2000, i dont think they will mind.

    so i guess that kind of answers your question, about them allowing you to have a £1200 transaction as your first, as long as your overall limit isnt lower than that amount.

    as for going to different people for different cards, it sounds like you have something in mind to buy, that costs £1200. you would probably want to get hold of a 0% for purchases card, and from your post it seems like you will aim to pay it off within the year, some cards give 0% interest on purchases for 9months (natwest are offering one at the moment) so thats almost an interest free loan (kind of)

    saying that, just looked at the CC articles, and GE money offer a card with 0% on purchases for 12 months, or sainsburys for 10 months.

    as you have a fixed amount in mind, and a fixed period to pay it off, read this, it ellaborates on what i have been rambling on about;

    Credit Card for Purchases

    Gary
  • Astaroth
    Astaroth Posts: 5,444 Forumite
    Chances of success are down to what your credit history is like and what your scoring is like (age, salary, length of time at one address/ in on job etc)

    As Gary says - this will determin the credit limit and then you spend that credit in as many or few transactions that you want
    All posts made are simply my own opinions and are neither professional advice nor the opinions of my employers
    No Advertising or Links in Signatures by Site Rules - MSE Forum Team 2
  • asandwhen
    asandwhen Posts: 1,407 Forumite
    There is a spend limit with the sky card though think it might be £1000.
  • ok so it turns out that one card has a transaction limit, it might be worth asking others then before you apply.
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