Texaco Credit Limits

kenshaz

I need to use some of my stooze money to fund a property purchase ,so 0% is to risky in case I cannot get further 0%,so I am considering Texaco life of balance,no good if they give low credit limits,what experiences have others had.

Cardinal-Red

When I got my Texaco card, they gave me a limit of £3000 (this is quite a lot for my salary, and other financial commitments.)

On the day I received my letter and logged onto their website I sent an e-mail saying I was hoping for a higher credit limit and wanted to transfer from higher APR accounts to Texaco, including the line "I will pay interest on this money anyway - surely it would be better paid to you rather than your competitors..."

It was immediately raised to £7000.

Might be worth trying...

(Remember these limits are high for me and £7000 is the highest I've ever been offered)

pinkfluffybabe

I recieved my offer letter today and they are only giving me £1000 credit limit. I think I may give them a phone and ask if they will up it. Lloyds gave me £4500 but then I bank with them. (its the same company as far as I can make out).

Christine

phbaker

this relates to my girlfriends application for a texaco card to stick all her balances onto one card at the 3.9% balance for life, which she finally aggreed to do after me forwarding copies of Martin's balance transfer tips to her constantly. (she has had three cards going with pretty hefty balances at the FULL %RATE!) Of course the real reason i want her to sort out her credit cards is so i get a better birthday prezzie this year!

Anyway she has historically had a poor credit rating and was apprehensive to apply and get knocked back by yet another card, however she applied online and requested three balance transfers to three other cards. Her application went through but the limit initially set was for £1500,00, far too low to take her balance transfers. she called them and was very surprised to hear a friendly helpful customer services staff member who explained, as in the earlier post, that she should enclose a letter explaining her need to lift the credit limit, they also asked for copies of the other card statements to verify....... whatever. they have upped her limit to take in all transfers and my girlfriend is finally happy dealing with debt, realising it can get better, with a little help from encouraging people such as use this site.

so thanks, and i a look forward to a great birthday present.

Tabasco

Is their website http://www.texacocard.co.uk/index.html?

Sorry to ask but it looks a bit basic......that's all.

Do they give you an answer or you have to wait for a letter to come through?

Also, do you have to get the BT done within the first six weeks?

Cheers!

miss_lisalou

They only gave me £1500 limit. Not boasting or anything but that's dreadfully low compared to what other card companies have offered.

I think it is part of Lloyds TSB and as I have a rather dormant account there perhaps they used that as a track-record?

pinkfluffybabe

Tabasco - they didnt give me a decision straight away cos they had to 'do further checks' and so I got a letter in the post a few days later. (I have changed address twice in three years so this has happened before). The balance transfers need to be in the first six weeks to get the offer, otherwise they go to a higher rate.

Miss Lisalou - Im not sure what it is based on. I am waiting to get the card through before phoning and asking for specific credit level to take my balance transfers. Im pretty confidant i'll get it - no good reason why not.

Christine

pinkfluffybabe

Got my card through today with credit limit of £1000. Phoned customer service and asked for it to be raised. Was told that as I had no history with that company that they couldnt do it automatcally but if I sent proof of my other credit limits and the balances I wanted to transfer then they could take a look at it.

Fingers crossed.

Christine

zcaprd7

I got a £5K limit from Capital One 3.9% - the trick is (and this might need checking as it was a while ago) to do the max balance transfer from day one.

Make the minimum payments and then just before the 6 month window for the 3.9% balance transfer (this needs checking) expires ring up and ask for an increase in credit limit. They 'should' triple it (you've shown them how responsible you are), then you can do another balance transfer to the maximum - this scoops up those minimum payments you've been making as well...

nh

Tabasco wrote:

Is their website http://www.texacocard.co.uk/index.html?

Sorry to ask but it looks a bit basic......that's all.

Do they give you an answer or you have to wait for a letter to come through?

Also, do you have to get the BT done within the first six weeks?

Cheers!

I got £2.5k limit with £30k wages, partner got £10k with £50k wages. I asked for an increase but they didn't give me one. You have to do the BT in the first month to get 3.9%. https://www.texacocard.co.uk is the correct website.

pinkfluffybabe

zcaprd7 wrote:

Make the minimum payments and then just before the 6 month window for the 3.9% balance transfer (this needs checking) expires ring up and ask for an increase in credit limit. They 'should' triple it (you've shown them how responsible you are), then you can do another balance transfer to the maximum - this scoops up those minimum payments you've been making as well...

Its within 6 weeks to get the 3.9%

I have written away to ask with statements etc enclosed. If they say no then I will give it five weeks and ask again. If they say no again, then at least I have £1000 of debt on 3.9 rather than what I am currently paying.