Upgrading Barclaycard Initial to Barclaycard

zoned_out31

Just a quick post to say that I phoned Barclaycard today after having my Initial card for around six months, and asked for a reduction in my interest rate from 29.9% as I had changed jobs. The woman on the end didn't even ask for any work details but said she could drop the rate by 10% and upgrade the card to a normal Barclaycard.

I didn't ask for an increase in credit limit or anything but as I have a small balance on the card I think thats a pretty good result?

stephane_2

Well done but I would have asked for an increase....after 6 months you should be eligible for one...you should five them a call or you can do it online....if they say no then try again in a few months time

Jon_B_2

Not everybody wants a massive credit limit?

Nice one. The best way of getting anything decent is to ring up the card operator. I did the same with my Halifax CC.

izools

zoned_out31 wrote: »

Just a quick post to say that I phoned Barclaycard today after having my Initial card for around six months, and asked for a reduction in my interest rate from 29.9% as I had changed jobs. The woman on the end didn't even ask for any work details but said she could drop the rate by 10% and upgrade the card to a normal Barclaycard.

I didn't ask for an increase in credit limit or anything but as I have a small balance on the card I think thats a pretty good result?

I've had my Barclaycard since November. Run perfectly, maxed twice and cleared to £0 twice, so I've made them plenty of money and demonstrated I can afford the credit limit, but no upgrade for me
I'm grumpy now.

Jon_B_2

By clear to £0 do you mean you cleared it before the interest kicked in or not?

izools

Jon_B wrote: »

By clear to £0 do you mean you cleared it before the interest kicked in or not?

No, I've paid interest every month. All I mean is I've spend up to the limit (ish) and managed to get it back down to £0 after doing so twice since November. Showing I can easily handle the limit and make them money on the way. Their response was to lower my limit in March and refuse to upgrade the account. Never been over limit, always paid on time and over the minimum, and not left the account dormant.... Weirdos.

chexum

izools wrote: »

I've spend up to the limit (ish) and managed to get it back down to £0 after doing so twice since November.

I keep hearing that you're not even supposed go near the limit, but keep it below half or even third of that. Maybe you need to show that you're not prone to use all your credit at once? It makes sense with £10k, but not really with £260...

Some time ago, with ridiculous limits, I'm used to go near the max in a week, then paying it back, and repeating this a few times a month. I simply liked better using a card not linked to my current account. In that light, this may not be good idea however

Incidentally, I began wondering that if I'm getting close to the 6 months, when it's actually up:

(with respect to the following restriction)
"we won't be able to raise your limit if, within the last six months, you have:
*Already raised your credit limit"

If the last raise was on 20 Jan (and the statement before was on 10 Jan), all of the following look reasonable to me:
- 21 July (exactly 6 "months" after 20 Jan)
- 1 Aug (so that no raise happened in the 6 complete months Feb-Jul)
- 11 Aug (6 months after the statement with the previous limit)

DizzleUK

Jon_B wrote: »

Not everybody wants a massive credit limit?

Nice one. The best way of getting anything decent is to ring up the card operator. I did the same with my Halifax CC.

I would very much like to have just the one credit card with a £500 credit limit. This would equate to half my monthly salary and consider that more than enough for my needs.

At the moment I have £350 limit spread over two cards. I use one for petrol and the other for the day to day odds and sods I have to buy (birthday presents blah de blah)

I don't see the point of having a £3000 limit on a card when you only earn £1000 a month.

byebyedebt

izools wrote: »

No, I've paid interest every month. All I mean is I've spend up to the limit (ish) and managed to get it back down to £0 after doing so twice since November. Showing I can easily handle the limit and make them money on the way. Their response was to lower my limit in March and refuse to upgrade the account. Never been over limit, always paid on time and over the minimum, and not left the account dormant.... Weirdos.

So you actually demonstrated that you are a bit of a risk, because firstly you have maxed out your cards twice. The fact that you paid it down to 0 twice creates the impression that you have irregular income, it doesn't neccessarily show that you are good with credit.

You have to look at it from the banks point of view. If you are maxing the card twice in six months, does that indicate a problem?

It used to be a status thing, Ive got a bigger limit than you etc. Now it is seen as a liability.

sutton111

izools wrote: »

I've had my Barclaycard since November. Run perfectly, maxed twice and cleared to £0 twice, so I've made them plenty of money and demonstrated I can afford the credit limit, but no upgrade for me
I'm grumpy now.

Did you manage to sort out your limit query?

BTW take a look at my Barclaycard Question #553

byebyedebt

DizzleUK wrote: »

I would very much like to have just the one credit card with a £500 credit limit. This would equate to half my monthly salary and consider that more than enough for my needs.

At the moment I have £350 limit spread over two cards. I use one for petrol and the other for the day to day odds and sods I have to buy (birthday presents blah de blah)

I don't see the point of having a £3000 limit on a card when you only earn £1000 a month.

Dizzle you are absolutley right. Short term borrowing in an emergency, or for regular monthly spend. We all need to get away from the culture of the never never. However personally I would prefer two cards not one as Im always losing mine! Chip and pin has led to me leaving many a card behind in the payment machine.