Increasing Credit Limit

rendo84

Morning everyone.

I've searched the existing pages and can't find an answer to my dilemma so thought I'd start a new thread.

I've currently got a C/C with Tesco. When I applied for it they gave me a limit of £2,000. At the time I had no debt, no existing credit or store cards and was rarely in my overdraft. I've never even got near to the limit so it's never been an issue.

I took another C/C with Halifax around October this year and they too gave me a £2,000 limit.

Recenty I've been made redundant and rather than jump back into a similar job I've decided on a career change but need to do a course before to help me on my way. The problem I have is that the course is more than £2,000.

If I try to apply for an increase on my C/C limit online they ask for my current salary and what I'd like my limit to be. Obviously at the moment I have no current salary so this makes it a bit awkward.

If I blagged it and said I was on £25-30k p/a and asked for a £3k limit would they search far and wide enough to see if I was lying or ask bank statements/proof of my salary?

And, lets assume I got the limit, if they found out at a later date I lied would I get fined/blacklisted/prosecuted?

Any info or advice would be greatly appreciated.

callistris

rendo84 wrote: »

If I try to apply for an increase on my C/C limit online they ask for my current salary and what I'd like my limit to be. Obviously at the moment I have no current salary so this makes it a bit awkward.

If I blagged it and said I was on £25-30k p/a and asked for a £3k limit would they search far and wide enough to see if I was lying or ask bank statements/proof of my salary?

In my book that would be fraud;)

BugsyBrowne

rendo84 wrote: »

Morning everyone.

I've searched the existing pages and can't find an answer to my dilemma so thought I'd start a new thread.

I've currently got a C/C with Tesco. When I applied for it they gave me a limit of £2,000. At the time I had no debt, no existing credit or store cards and was rarely in my overdraft. I've never even got near to the limit so it's never been an issue.

I took another C/C with Halifax around October this year and they too gave me a £2,000 limit.

Recenty I've been made redundant and rather than jump back into a similar job I've decided on a career change but need to do a course before to help me on my way. The problem I have is that the course is more than £2,000.

If I try to apply for an increase on my C/C limit online they ask for my current salary and what I'd like my limit to be. Obviously at the moment I have no current salary so this makes it a bit awkward.

If I blagged it and said I was on £25-30k p/a and asked for a £3k limit would they search far and wide enough to see if I was lying or ask bank statements/proof of my salary?

And, lets assume I got the limit, if they found out at a later date I lied would I get fined/blacklisted/prosecuted?

Any info or advice would be greatly appreciated.

Its up to you if you lie,but also they won't ask for proof either.

bengal-stripe

rendo84 wrote: »

I took another C/C with Halifax around October this year and they too gave me a £2,000 limit.

Spent that lot already?

rendo84 wrote: »

Recenty I've been made redundant and rather than jump back into a similar job I've decided on a career change but need to do a course before to help me on my way. The problem I have is that the course is more than £2,000.

How do you know you'll make money, once you've done that course?

The last thing you need is more debt. On the other hand, in a year’s time, when you’re drowning in debt, you can always come back to the forum and complain about “irresponsible lending” by the bank.

rendo84

Fraud... thats the crime I was looking for!! Couldn't think what it was called.

The Halifax card was really only taken out as a short term solver for when I went travelling, (think I got the Clarity). I've paid that one off now so don't really want to use it again. Plus I can earn clubcard points with the Tesco one so that was my preferred choice.

I suppose there is no guarantee I'll get a job straight away after I've done the course but it does give me better options. I can always fall back on my years experience in Financial Services to get a job with a salary similar to what I had but I wanted to move away from that because it bores me.

Do you think there'll be any prosper in the old 'honesty is the best policy'? In other words if I rang them and told them I was unemployed and needed an increased limit to pay for course but still would be able to afford at the very least any minimum payment due per month, which is actually true, they'd look favourably on it and increase my limit? (I think that would be more like wishful thinking that anything else though)

scottishblondie

If you have 2 cards with a 2k limit each then just ask to split the payment amount across the cards.

Hax

rendo84 wrote: »

Fraud... thats the crime I was looking for!! Couldn't think what it was called.

rendo84 wrote: »

I can always fall back on my years experience in Financial Services

So, after years of experience in "Financial Services", you couldn't remember the word "fraud"? And with those years of experience, you then think of this as an option:

rendo84 wrote: »

If I blagged it and said I was on £25-30k p/a and asked for a £3k limit would they search far and wide enough to see if I was lying or ask bank statements/proof of my salary?

And, lets assume I got the limit, if they found out at a later date I lied would I get fined/blacklisted/prosecuted?

It beggars belief!

FWIW: If you get "caught" commiting fraud then I don't think you'll ever have to worry about working in the Financial Services again.

Fiddlestick

rendo84 wrote: »

In other words if I rang them and told them I was unemployed and needed an increased limit to pay for course but still would be able to afford at the very least any minimum payment due per month, which is actually true, they'd look favourably on it and increase my limit?]

Errr no.

You have no income.

woozywendy

They could possibly drop your credit limit as well if you inform them you are not working. Could you work part time and still do your course?

chattychappy

The most likely fraud offence would be s1-s2 Fraud Act 2006 - fraud by false representation.

It does come down to precisely what is asked on the form and whether the answer given is untrue or misleading in that context and the OP knows it to be as such.

There are some other elements to the offence - including in particular the requirement to establish "dishonesty" - the "Ghosh" test.

Whether the "fraud" is discovered and even then whether it's decided to prosecute is another matter. On conviction in a Crown Court, the maximum penalty is an unlimited fine and/or 7-10 years. Very unlikely to be anywhere near this for an offence of this size - but the OP did ask. Sentencing guidelines are given here: http://www.sentencingcouncil.org.uk/docs/web_sentencing_for_fraud_statutory_offences.pdf (see section F).

Other mechanisms are in place to catch you out if you change your story too much - eg National Hunter. If you go bankrupt, your conduct can also have an effect on how matters are handled.