Advice needed in how to avoid being rejected for possibly being too good a customer

torrenter

I'm guessing I shouldn't have said something in particular here...lol.

The_Cappuccino_Kid

Torrenter, I don't know why my limit is so high. I was extremely surprised; my next highest limit is £2500.

torrenter

Thanks for the reply Cappuccino Kid. I think a limit of a £2000 would do me fine. I would just need enough for purchases (eg Electronics) so I could get Section 75 protection. Then again I know that starts at purchases of £100. My only concern is Credit Card/Identity theft and having a very high limit at the same time. Not that I've been unlucky in the past or anything. I'm going off point here, I shall cease now:)

izools

So are you going to apply already?

Cmdr_Bond

torrenter wrote: »

Hey Cappucino Kid. Hope you don't mind me asking but did the limit they give you have any reflection or relation to your earnings, do you think? I just want to get at least a grand limit to cover for things like more expensive purchases. My HSBC card has a limit of £500 from student days 6 years ago. I really don't know how generous these CC firms are in the wake of the recession.

I have just been accepted for the Barclaycard 17 Month 0% Balance Transfer.

I scored 80-90% on their pre checker so went for it. My earnings, well I told them £20k - but it is marginally higher than that. I asked for a £2700 tranfer (which is £3000-10%) My current card has a £3k limit and has been within £500 of that limit for the last 6 months at least. My overdraft is £1200 and again has not been less than £500 from limit in the last 3 months.

I even went over limit on my CC once recently.

I do make more than the minimum repayments though - a fixed £60/week so £240-£300/pcm against a min payment of about £60/pcm.

Got an email back to say I had been accepted an given a limit of £6400 :eek:

It would appear I have no problem getting credit !

torrenter

Cmdr_Bond wrote: »

I have just been accepted for the Barclaycard 17 Month 0% Balance Transfer.

I scored 80-90% on their pre checker so went for it. My earnings, well I told them £20k - but it is marginally higher than that. I asked for a £2700 tranfer (which is £3000-10%) My current card has a £3k limit and has been within £500 of that limit for the last 6 months at least. My overdraft is £1200 and again has not been less than £500 from limit in the last 3 months.

I even went over limit on my CC once recently.

I do make more than the minimum repayments though - a fixed £60/week so £240-£300/pcm against a min payment of about £60/pcm.

Got an email back to say I had been accepted an given a limit of £6400 :eek:

It would appear I have no problem getting credit !

Yeah I guess. I guess the Credit Cards don't really care about how much they lend to people. It's all about them making money.

torrenter

izools wrote: »

So are you going to apply already?

Well, I'm waiting until Equifax get back to me to confirm that my file's been updated correctly. They had me down as using 39% of my available credit. Basically the balance showing on my Credit Card was out of date. I wanted this corrected before I applied. Experian updated, so don't have to worry about them.

StephenM_2

I applied for The Halifax Reward Clarity Card a couple of months ago. Got accepted on 12.9% with a £12,000 limit. I never pay interest on credit cards, but I do bank with Halifax and have a mortgage with them, so they know plenty about me. I also have a £10,000 overdraft limit with them that I never use, so they don't seem to have held that against me.

torrenter

Not to go on unnecessarily about my situation but I thought the following might help some people.

It turns out a flawless credit report doesn't equate to a perfect CRA score. And what is a perfect report then? I thought I had it. Obviously not. I wonder if this will play a part when I apply tomorrow for the Clarity Card. Will I get 12.9% if my application is successful?

463/900 with Equifax. Good
908/999 with Experian. Good

It turns out that average age of accounts plays a big part in Equifax's scoring. And having only got back on the Electoral Register 9 months ago, after missing canvassing. That seems to have had a negative affect aswell.

But will Halifax care? I will find out tomorrow. You may or may not want to know:)

izools

Those scores bear JACK ALL relevance to how Halifax will rate you.

Just apply already and see what they say BTW, Halifax search Experian, not Equifax, so waiting for Equifax to change won't change a thing