0% credit card limits - 'find' before you 'buy'

df1207

Whilst I am aware that credit card companies take in to account the amount of credit you have available, salary, etc, is there any way of knowing what limit the Company will offer you before taking out a credit card with them?

I ask only because on recently receiving my Amex, I was given a £1,200 limit and was told that I could only increase this every 6 months (up to a maximum of 50% of the previous limit). This to me was very disappointing when colleagues of mine who are of similar age/salary/circumstance, have been offered in excess of £5k for the same product (FYI my credit rating is over 900).

Although this is kind of irrelevant now, I am getting married next year and want to pay for the honeymoon on a credit card and then pay it over the term of the 0% period. I have since reduced the limit on one of my current cards in an attempt to be offered a larger credit limit on a future application. It is likely that I will cancel this card before applying for the 'honeymoon' card so my total credit used at any one point will be £1,200.

Any ideas would be greatly appreciated!

Tixy

No -No way of knowing what you will get. Some cards are generally considerd to be more generous than others with credit limits (I always find MBNA cards have higher limits than anything else I apply for).

Miss_J

Don't know if this is standard, but just applied online to Nationwide and have been accepted "in principle" and it also stated that I'd been accepted for £3500 credit limit at 19.9% APR.

skintdad

Miss_J wrote: »

Don't know if this is standard, but just applied online to Nationwide and have been accepted "in principle" and it also stated that I'd been accepted for £3500 credit limit at 19.9% APR.

is this after full application or just up to the quotation screen?
19.9% is the highest rate for this card. I don't think the quotation gives a decline but instead shows highest rate.

skintdad

I think Nationwide says £500 limit and 19.9% if its going to decline the full application. However, it said 19.9% and £1200 for me but I didn't do full app as criteria stated no CJJs, defaults etc. I have a 5 year old CCJ so thought it would decline me anyway.

Miss_J

skintdad wrote: »

is this after full application or just up to the quotation screen?
19.9% is the highest rate for this card. I don't think the quotation gives a decline but instead shows highest rate.

No this was on the quotation page but once I clicked to proceed and had to go through terms and conditions and click the page to sign the agreement it stated those terms again. Not heard back, but only applied today and could well be a decline, but I would only be using it to move a balance from MBNA to them on 0% for 17 months, so would gain a little by moving.

Venusflytrap

My experience with Nationwide is that I was accepted for what the quotation page offered - £2k limit, 0% on purchases for 6 months then 9.9%APR thereafter.

Miss J - upon submitting your online application you will receive the credit card agreement in the post; one copy for you to keep and the other Nationwide copy for you to sign and return. On the NW copy you will also see a pre-populated box either accepting, referring or declining your application. They will also advise if you need to present your ID to a local branch (if accepted).

Miss_J

Hi Venus FLytrap

I received a letter from them yesterday asking me to take ID to a local branch, but no duplicate copy agreement to sign and send back. A bit confusing.