Natwest Classic Credit Limit increase?

The_Matelot

Hi all. Some advice/opinions wanted. I have had the classic for 6 months now, making me, according to the website, eligble for a limit increase. I have used the card well, paying off in full, until last month. I bought a new washing machine on it thinking i'll take advantage of the 0% on purchases and spread the cost over 3 months. Now im wondering should i clear the balance (£300/£700) before asking for an increase? And how much should i ask for? I earn 18200 p/a and have good credit history?

Cheers as always!

chexum

Classic - so you still have about 6-7 months of 0% purchases? You could have delayed paying off in that case. Although I don't have experience with Natwest, but I don't think it counts if you have a promotional balance. I did something similar with Barclaycard, they didn't have any problem when I requested to double my credit limit with them, even though at the time I had about 2 months left of a 0% balance transfer, and was still using 70% of the old credit limit.

I really can't help about how much to aim for - I was happy with the double, but if you played safe, you'll feel you could have asked for more It could depend on how much other credit you would have available. Possibly an increase by 10% of your annual income could be a conservative guess, but I'd wait for a second opinion.

The_Matelot

Yeah got 6 months 0% left. Was just thinking am i more likely to be accepted for an increase if the balance is 0. If it doesnt make a difference then i will pay off the machine over 2-3 months. It is less than 50% of the available balance and it is my only card debt. My other debt being a 6/36 month old loan. I have another card which i use solely for the months diesel and pay off in full. Any other ideas guys?

KingElvis

You can apply onlibe through the credi card section of online banking for a card increase.

ACG

I used to work for RBS credit cards - which is the same place for Natwest cards as well as a number of other cards run by RBS.

If it is still the same now as it was a few years back, the system offers a pre-determined amount. You cant ask for an amount unless it is lower than what the system offers.
The only exception to this is/was if you could prove you could afford a higher credit limit. This was done by sending in bank statements. If for instance you wanted a £10k credit limit - you would have to show you have £10k in a bank or savings account.

Otherwise its an increase every 6 months. The higher your credit limit is, the higher the increase will be. eg if you have a £500 credit limit, chances are it will only go to £600 or maybe £750. If you have a £5000 credit limit it will offer between £6000-8000.

This limit used to go upto £10k, anything above that and you would have to show you have the money in a bank account.

This was all a few years back, so chances are it could have got stricter as i left in 2007 (pre credit crunch).

KingElvis

I applied through online banking about 12 months ago and got an increase from 2700 to 5400, no idea where 5400 came from but that's the banks for you :-)

.1xp

I find them to be a bit funny, I had a classic card with £1700 limit and a platinum with a £1450.

I cancelled the classic card and left it a few months. Asked them to increase my Platinum to £2k and they declined.

I complained, advising that I'd just lowered my risk with them by closing the classic, but they said they want another 6 months payment history. (I've had the platinum 6 months).

Didn't really need it anyway, Halifax have just given me a Clarity card with £3k limit.

I just don't understand why they would give me £3150 over two cards, but not £2k on one card.

The_Matelot

Sounds very odd. I have tried to do it online today but it said it cannot be proccessed and im to call customer services. So i have done that and have to wait for a letter now! Cheers for the replies guys!