Got first credit card, now what?

pstones578

I have just got my first CC with Virgin, they gave me a £5000 limit. I am interested in getting this limit up as soon as possible and as high as possible. Are there any sure fire ways of getting my limit up? Also I would like to get another card with a £4000-£5000 limit but thusfar have only been offered £1000 from two other providers. Can anyone suggest who I should go to to get another card? I wanto be able to SBT the limit of the card to a savings account.

Martinslovechild

Peter,

The words 'bull' and 'china shop' spring to mind. Don't go rushing in there applying for a raft of cards. Take it steadily. Read https://www.stoozing.com for further info. You may have been given low limits because the banks need to see evidence of your reliability to make regular payments, check out your spending patterns etc before they will start upping limits. Salary also plays a big part and also the total amount of credit currently available to you.

Reaper

stoozing.com is still an empty shell of a web site with all the info missing. Until they fix it read Martin's article instead.

pstones578

Yeah, I've noticed that stoozing.com seems to suck. I'll probably apply for an increase in a few months.