Likely limit for first credit card?

BugsyBrowne

stayinganonymous wrote: »

I am not sure if things have changed much with regards to the yearly income required, but when I got accepted for my Barclay Card Platinum a few years back (my first credit card) I wasn't even working! I was still in education at a training center (aged 19) and on £40 a week... so why was I accepted, because I certainly didn't lie! Maybe it was because I was a customer with Barclays.

Either way, I am not complaining as I've always paid on time and not had any problems with Barclaycard.

Yeah this is 2010 mate,things are a lot different,its so much harder to get credit now,and yes being a barclays customer at the time would of made a big difference.

ClareJ7

Hiya everyone. I recived an email today saying ive been approved for the platinum card.

I dont understand how! If you have to earn 20,000 why have they accepted me?!

Im assuming people wont believe me, so heres a screenshot...

BugsyBrowne

ClareJ7 wrote: »

Hiya everyone. I recived an email today saying ive been approved for the platinum card.

I dont understand how! If you have to earn 20,000 why have they accepted me?!

Im assuming people wont believe me, so heres a screenshot...

Very well done to you then.

ClareJ7

Surely theyve made a mistake?!

And a credit limit of 1000, thats 3 months wages for me...

Oh well, why complain!

chattychappy

Well... that goes to show all the doubters!

izools

Although thinking about it, if the applicant is in a stable position, say for example a married co-home-owner who has held her bank account, job, and mortgage at current address for years, has never had prior credit defaults and has donkeys years of perfect credit history with current accounts, utilities, and mobile phone contracts, why not lend her 25% of her annual income, knowing it will be her only credit commitment?

I suppose the risk would be very low, as long as the credit limit is in line with affordability, which it appears to be - at a push.

Well done OP.

powerone

Just make sure that you keep the payments due. Even just the expected monthly due. On time. Then all will be okay.

chattychappy

I think it's part of the aura of "platinum" cards .. creating an air that they are for certain customers only - typically by reference to income level and exclusivity/status recognition. In the end though, a credit card is a credit card. Nothing to stop them disapplying their own stated salary minimums in order to get the business in.

powerone

really what the card looks like isnt important. Well only to some people but it doesnt affect the bank. the major issues are apr and credit limit.

adamc260

I applied for Barclaycard Platinum and had to state my income on there so it does get asked and the usual requirement is 20k +

How long did you wait for the email, i've had everything confirmed that I was accepted but no email, making me think 'did I type me email address right!?' wouldnt be the first time