Credit Limit Rise

JDC14

Just paid off the 2nd month on my first ever credit card and I'm surprised at how easy it is to keep myself in check by not overspending. However I did overstretch myself slightly this month although I've got literally nearly all my christmas shopping done!

Anyways, to the point, I've had a phone call from Barclaycard (I have a BC Initial) saying they're already willing to up my account limit and that a letter would be sent shortly.

It's currently £800 limit and they're putting it up to £1200. I've only spent about £600 over the 2 months on the card so I was surprised it was being raised so quickly.

But, is it easy to reject the change and will it have any future effect while I have this card and beyond that on my credit file?

Thanks,

Hazzinho

Rises are only bad if you can't control yourself. A bigger limit is generally a good thing if you manage it well and don't max it as it helps lower the balance to limit ratio on your credit file.

chanz4

that is very quick, normaly its 6 months

Ben8282

As you say that you are surprised at how easy it is to keep yourself in check by not overspending, you should not be worried about overspending if your credit limit is increased so there is no reason to refuse it. As you are concerned about the effect on your credit file, a single credit card with a £1200 limit will look better than a credit card with an £800 limit.

JDC14

Im not planning on applying for new credit any time soon (unless after a year of a BC Initial I can upgrade to something better), so I did imagine that being trusted with a higher credit limit would look better.

However, as I wouldn't be using it, wouldnt it just look like I have too much available credit that I just dont use?

Ben8282

No. Not this small amount.