Need help with a letter

chanz4

sainsburys is more expensive than tesco,

nhsgirl

Hi

There is no big thing about my Tesco card I now have 3 credit cards 2 of which have biggish credit limits with low balances Tesco and Barclaycard.

And I would like to get rid of one of them I dont really care which one

And the one I would like to keep as I use for my shopping and would like the nectar points only a £500 limit the sainsburys one

Nikki :beer:

ihateyes

nhsgirl wrote: »

Hi

There is no big thing about my Tesco card I now have 3 credit cards 2 of which have biggish credit limits with low balances Tesco and Barclaycard.

And I would like to get rid of one of them I dont really care which one

And the one I would like to keep as I use for my shopping and would like the nectar points only a £500 limit the sainsburys one

Nikki :beer:

when you have multiple credit cards, new cards will have lower limits..... you need to start cancelling card.....

please advise your salary, and what you owe on each card... btw do you have any loans either?

david39

Do they not accept Tesco credit cards at Sainsbury's then? - or is there some extra discount if you use a Sainsbury's card in their stores?

Ebe_Scrooge

Reading between the lines, I'm guessing that if you pay for shopping at Sainsburys with a Sainsburys card, you get bonus Nectar points ? If this is the case, have you worked out how much this will actually benefit you ? Again I'm guessing here, but if say you get twice as many points for using their card as you would ordinarily get, do you spend enough and are the points worth enough to actually make it worth the hassle of swapping cards ?

And - stating the obvious a bit - unless you pay the card off in full every month, the APR will be by far the biggest consideration. Any bonus you receive by way of points could well be more than offset by increased interest charges. Just something to consider, hope this helps.

redpete

Dear Sainsbury,

Once I have cancelled my Tesco credit card account that has a £3k credit limit would you be able to increase the £500 on my Sainsbury credit card account and by how much?

Thank you for your help.

Best Regards,

nhsgirl x x.

nhsgirl

Hi

Thank you for your comments and help a little background, I earn £24000 per annum
1 x tesco credit card Limit 3000 owing £300
1 x barclaycard Limit 3000 balance 0
I have a loan outstanding £8000 2 years left
1 x next store card Limit 5000 balance 0
1 x very catalogue Limit 1000 balance 0

Yes they do accept Tesco at Sainsburys but not to get Nectar Points bonus which I take full advantage off.

Sorry yes I pay my cards off in full every month

Nik

ihateyes

nhsgirl wrote: »

Hi

Thank you for your comments and help a little background, I earn £24000 per annum
1 x tesco credit card Limit 3000 owing £300
1 x barclaycard Limit 3000 balance 0
I have a loan outstanding £8000 2 years left
1 x next store card Limit 5000 balance 0
1 x very catalogue Limit 1000 balance 0

Yes they do accept Tesco at Sainsburys but not to get Nectar Points bonus which I take full advantage off.

Sorry yes I pay my cards off in full every month

Nik

well you should see the reason why you have been given £500 limit.

2 cards credit limit £6000/owe £300....adv cancel barclaycard.

If you ran up the 2 store cards.and credit cards at a 2.5%min repayment you would have a min repayment of £300 a month, add in all your other outgoing, and it could well be a push....

You should cancel your barlclaycard... call tesco reduce credit limit...
And do the same with Next/catalogue.

immoral_angeluk

There is no guarantee sainsbury's will give you a 3k credit limit regardless of whether you cancel any of your cards, it's all down to their own assessment and credit checking procedures. Unless you have a LARGE income and clear most of your debt you won't stand a chance. Your available credit is already 20k with a 24k salary. There's no way sainsbury's will see that as not high risk. Lenders currently don't like more than around 50% credit to income.....
I'm quite amazed you managed to get the cards at all.

eschaton

nhsgirl wrote: »

Hi

Thank you for your comments and help a little background, I earn £24000 per annum
1 x tesco credit card Limit 3000 owing £300
1 x barclaycard Limit 3000 balance 0
I have a loan outstanding £8000 2 years left
1 x next store card Limit 5000 balance 0
1 x very catalogue Limit 1000 balance 0

Yes they do accept Tesco at Sainsburys but not to get Nectar Points bonus which I take full advantage off.

Sorry yes I pay my cards off in full every month

Nik

£12,500 available credit incl your new card and an £8k loan might have something to do with your £500 limit.

Are you saving credit cards up to play snap with?