We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
🔔 You've got till Monday to apply to become an MSE Forum Ambassador
Loan with Barclays?
loopy.magic
Posts: 238 Forumite
in Loans
Hi
I'm a little confused by a couple of contradicting things that have happened lately. I have a lot of unsecured debt, I've attempted again to apply for personal loans to pay off existing credit cards and as usual I've been turned down. But now bizarrely I've received letters from Barclaycard telling me that they're increasing my credit limits.
Does this mean that I have a reasonable chance of getting a loan from Barclays?
I'm a little confused by a couple of contradicting things that have happened lately. I have a lot of unsecured debt, I've attempted again to apply for personal loans to pay off existing credit cards and as usual I've been turned down. But now bizarrely I've received letters from Barclaycard telling me that they're increasing my credit limits.
Does this mean that I have a reasonable chance of getting a loan from Barclays?
0
Comments
-
bump - anyone?
I'm assuming that an increase in credit card limits means that the company is more likely to favour you?0 -
Check your pre approved offers on Internet bankingCan I find out my credit score?You do not have a single credit score or rating. Different organisations take different information into account when working out your credit score and may have different scores for different products. (Kindly from Experian)0
-
Normally credit cards and personal accounts (including loans) work independent of each other so don't assume a higher credit card limit will lead to an approved loan.0
-
I'd say less chance as you have even more credit available to you.Try to be a rainbow in someone's cloud.0
-
So any idea why Barclaycard have decided to increase my credit limits?, in a previous time I remember my credit card limits going up and down and I always assumed this was to do with a bank considering you a greater or lower risk.0
-
Maybe because you pay on time, every time.
If you are reliable at repaying, they can see some more profit from you and will keep sqeezing until you fall over.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.8K Banking & Borrowing
- 252.3K Reduce Debt & Boost Income
- 452.6K Spending & Discounts
- 241.6K Work, Benefits & Business
- 618.2K Mortgages, Homes & Bills
- 175.9K Life & Family
- 254.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards