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How do they calculate credit limits?
rainbow_carnage
Posts: 465 Forumite
in Credit cards
A few months ago, I applied for an MBNA credit card. I'm self-employed with a clean credit history. MBNA called to confirm a few details, but approved the application without any problems.
A couple weeks ago, my husband applied for an MBNA credit card. He has a good full-time job and a clean credit history. He makes more money than I do. His application was approved, but with a credit limit that is half of what I got.
How on earth did they calculate that? By all measures, he's a better risk than I am. His credit history is longer than mine. We're both registered to vote. We live at the same address, but we have separate bank accounts and credit reports. We have about the same amount of available credit on other cards. I have more (zero-interest) debt.
He took out this card as an interest-free loan to buy our annual travel cards and pay my postgrad tuition. The limit he got won't even cover all of that.
A couple weeks ago, my husband applied for an MBNA credit card. He has a good full-time job and a clean credit history. He makes more money than I do. His application was approved, but with a credit limit that is half of what I got.
How on earth did they calculate that? By all measures, he's a better risk than I am. His credit history is longer than mine. We're both registered to vote. We live at the same address, but we have separate bank accounts and credit reports. We have about the same amount of available credit on other cards. I have more (zero-interest) debt.
He took out this card as an interest-free loan to buy our annual travel cards and pay my postgrad tuition. The limit he got won't even cover all of that.
0
Comments
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rainbow_carnage wrote: »A few months ago, [...]
A couple weeks ago,[...]
I think that may explain the difference.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
We will never know for sure.....based on risk, income, debt level...who knows!0
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