Why is my available credit not the same as my credit limit?

wee-gray

I hope this isn't too silly a question;
I am using a cashback card which I repay in full each month, the credit limit is £1500. I am finding that, even though the previous months balance is repaid in full, it remains removed from my available credit for the entire next month; for example:
Last month I spent £950 which was repaid in full last week, since then I have spent £250 which suggests my available credit today should be £1250 (credit limit minus payments to date), but my actual available credit is £300 which is calculated as my my credit limit, minus payments to date and minus the previous months (paid in full) balance.

Is this the same with every credit card- that essentially you only have credit available up to half of your credit limit?

Thanks for taking the time to help out a newbie here.

fozmcfc

It doesn't work like that with Natwest.

My limit £2750 I had £120 outstanding until yesterday, so amount available was showing at £2630. I paid yesterday via fast pay from my Natwest account, today my available credit is once again £2750.

fleitner

OP: Do you have a Halifax card by any chance?
I noticed that they have some funny way of calculating the available credit - even after my monthly payment (full) appears in the recent transactions, the available credit is not updated.

GingerFurball_2

fleitner wrote: »

OP: Do you have a Halifax card by any chance?
I noticed that they have some funny way of calculating the available credit - even after my monthly payment (full) appears in the recent transactions, the available credit is not updated.

My Bank of Scotland One card updates online the day after any payment leaves my bank account.