Mint SBT - Getting a higher credit limit

MiserlyMartin

I took out the Mint card and got a limit of £2800. I phoned a few months later and they increased it to £3300. I have phoned them recently and they refused to increase anymore because they can only increase once every six months they said.

However they said that if you can produce evidence of savings etc and send your savings and current account details to them they will review your limit based on that. You can ask for the limit you like.

Has anyone done this? Would it be a good idea to send them savings details because if they saw you had a lot of savings wouldn't that just wise them up to the fact you are a credit card tart?? And what is a realistic limit to ask for?

Can anyone advise me on this?

Cheers in advance

Milarky

I think they are genuinely trying to be 'helpful' by asking you to provide 'proof of savings' as this allows you to show that you either have not net debts, or rather smaller ones than their view of your credit reference file discloses. I can't think this would actually be used to your detriment as you suggest..

Besides it is perfectly possible for you to manipulate your own account balances simply by moving large amounts between accounts on the dates not shown on the statements n'est pas?

I've done something similar with Halifax, and they just put a small note on the prepared application form saying: "has provided evidence of savings". My concern, if any, is that doing this has limited effect on the final decision, but my instinct is that Mint just need an 'excuse' to raise your limit, so you would gain something by this. Other views?

40079

As I posted on the "Egg Do I need to be careful" thread a short while ago (about page 3 in the thread index I think), I got my credit limit more than quadrupled to a five figure sum by sending Abbey details of my savings (including amounts deposited from other 0% cards)

MiserlyMartin

Ok cheers. I'll do that. Trouble is most of my savings are internet based so I don't get a paper statement sent out with my address on it.

Being the canny investor as I'm sure most of us are what did you do about that?

rinoa778

Hello. I just wanted to ask a question about credit cards in general relating to credit limits. When you ask to increase your limit and it gets rejected, does it show on your credit file?

40079

Ok cheers. I'll do that. Trouble is most of my savings are internet based so I don't get a paper statement sent out with my address on it.

Being the canny investor as I'm sure most of us are what did you do about that?

Just printed off the web based statement and sent a covering note explaining that it was in my wife's name for tax reasons. Increased limit came back within the week!

Galstonian

Hello. I just wanted to ask a question about credit cards in general relating to credit limits. When you ask to increase your limit and it gets rejected, does it show on your credit file?

Only if there is a recorded search of your credit file done. If they rejected you for an "internal" reason (you've had a limit increase within the last X months) then it probably won't show anything. The only sure way to find out is to have a look.

Whatever is there it won't explicitly say "limit increase rejected" though.