Low Credit Limits

lynxptc

How are credit limits decided by lenders?

regularsaver1

They also base credit limits on affordability

does your income allow for the increase?

are you at the top limit?

gazza975526570

Do you actually NEED this credit?

You probably have a good chanve with Natwest if they provide your current account providing you have a decent record with them

Do you also have a regular income to repay?

lynxptc

I have a decent income, although I am self-employed, but in any case my payments have been made on time and in most cases in full each month so they can see I am managing the accounts well.

I ask mainly out of interest.

gazza975526570

Yu say you applied for three when you were 18. If your still around that age now they would want to see you manage credit responsibly over a period of time. I doubt few 18 year olds get limits of £1000's

movingforward2010

i started off with a barclay card credit limit of £250 when i was 18 they increased it to £500 after a yr, its taken me 4 yrs or more to get credit limits of £2k ?+

I dont mean to sound patronising but i know when i got my 1st CC and a few of my mates did to, u have a tendancey to go a bit crazy with it lol (im not saying this is the case with you) , i know i managed to reach my credit limit in about a week, so i think this is why they start it off low when ur new to credit, so u can afford to repay and know ur limits;)