High Credit Limits for Student running a business

patwa_2

Hello.

I currently have two credit cards - a Natwest Student Mastercard and a Nationwide Classic Visa Card. The Natwest card is only really used for everyday purchases. The Nationwide card has a very high credit limit (or so I was told) considering I'm just a third year student. The Nationwide also has a 9 month 0% on purchases, which ends in March 2007.

I run a business part time from home selling custom-built computer systems and components. This often requires me to buy entire systems with cash in hand, before I am paid by the customer (due to clearing times, etc).

I would like to apply for a new card, one with a higher credit limit. I am pretty sure that my credit history is clean, and therefore the only concern, if I've done my research correctly would be my student status. I have no problems clearing the bill each month, although a card with a 0% period would not go amiss.

First Direct have a card with a £3,000 minimum credit limit, and the minimum for Halifax seems to be £3,500.

I'd be grateful for any advice that can be offered here. I know that at this stage I may well have difficulties applying online, probably due to my only having had two cards so far, but I'd like to take whatever I can get.

Cheers and take care.

Hussein.

djl

mbna give high limits and they seem to increase them a lot

patwa_2

Thanks djl, I'll give them a look.

Cheers and take care.

Hussein.

BASFORDLAD

your rather wrong about minimum and first direct limits sorry.

M_Thomson

patwa wrote:

Hello.

I currently have two credit cards - a Natwest Student Mastercard and a Nationwide Classic Visa Card. The Natwest card is only really used for everyday purchases. The Nationwide card has a very high credit limit (or so I was told) considering I'm just a third year student. The Nationwide also has a 9 month 0% on purchases, which ends in March 2007.

I run a business part time from home selling custom-built computer systems and components. This often requires me to buy entire systems with cash in hand, before I am paid by the customer (due to clearing times, etc).

I would like to apply for a new card, one with a higher credit limit. I am pretty sure that my credit history is clean, and therefore the only concern, if I've done my research correctly would be my student status. I have no problems clearing the bill each month, although a card with a 0% period would not go amiss.

First Direct have a card with a £3,000 minimum credit limit, and the minimum for Halifax seems to be £3,500.

I'd be grateful for any advice that can be offered here. I know that at this stage I may well have difficulties applying online, probably due to my only having had two cards so far, but I'd like to take whatever I can get.

Cheers and take care.

Hussein.

Hi there,
Looking at the Halifax website, the minimum credit limit you'll get is £500. I also think that unless you have a huge income from your business you will not get a very high credit limit initially.