Barclaycard credit limit changed?

Johntea

The strange thing is they agreed to giving me the card with the £2000 limit when I probably had a similar amount of debt to what I have (or did have...mainly consolidated by the parents) now!

Ah well we'll see what happens in December as hopefully my 2 payslips will wipe it out and my Christmas trimmings will comprise of the trimmings from this card when I chop it up! Be interested to see how much they reduce it when I clear the balance in full!

izools

Johntea wrote: »

The strange thing is they agreed to giving me the card with the £2000 limit when I probably had a similar amount of debt to what I have (or did have...mainly consolidated by the parents) now!

Ah well we'll see what happens in December as hopefully my 2 payslips will wipe it out and my Christmas trimmings will comprise of the trimmings from this card when I chop it up! Be interested to see how much they reduce it when I clear the balance in full!

Granted, but it's not just about how much you owe as a raw figure.

It's about how well you're handling that debt. At present, you aren't handling it well atall. You're on an arrangement plan...

udydudy

Johntea wrote: »

........agreed to giving me the card with the £2000 limit when I probably had a similar amount of debt to what I have .......!

The misconception in general is that if you have a large amount of debt you may not be able to access more credit. but in my experience its been quite the opposite. I have credits exceeding my annual pay and I do not seem to have any problems accessing more credits and at (touch wood) the advertised typical aprs. While as the OH has until this year never easily got credit as OH has fewer cards and no loans.

Like izools said it is not about the raw figure of outstanding but also how you handle credit. I have had loads of credit but not a single late payment or default on my file ever. I handle that by having atleast a minimum payment DD setup whenever I take up a new card and I also ensure no DD ever bounces (beg borrow or steal, though never had to).

Recently applied for a personal loan in OH name and they said 11% interest which I found too high. I actually did not want to apply in my name as I had 3 cards over 10k each and others but the lady at the bank said I had a better standing and she asked me to apply in my name and voila we had the personal then and there at 6.4%!!

Shocked me buther reply was --and these are her words-- "We do not care how much you owe, as long as we can see you always pay back!!":A:A:A:A

Venusflytrap

But if you have more credit than your annual income and you suddenly go on a plastic binge, you definitely cannot repay unless you have a back up in savings. And if lenders do not have access to savings accounts details because they are not credit lines, how confident can they be that one can repay if all available credit was maxed out?

izools

TBH I'd personally feel much more comfortable lending £10,000 to someone who's had a plethora of loans and credit cards in their time successfully paid off on time every time as long as they aren't maxing out their credit lines (i.e. had a low debt to limit ratio) a large sum owed would bother me much less than lending to someone with no history of handling loan and credit card accounts.