Starting Limit

needpracticaladvice

Hi,

Ive been in the UK now a few years and building up my credit had been a slow process to say the least, I started off with a bank account no o/d or anything, and no credit.

Even Vanquis and Aqua card would not touch me!

Now I have 2 bank accounts a £4000 o/d and a £500 o/d (I use both) 2 Catalogues which both started at £100 limits, one is now £500 and the other £2000. I got a Capital One Secured card a few months ago, because as I said I could not even get sub prime CC, the Cap One was £200 secured limit, with £200 deposit.

I applied for 3 new accounts though and accepted for all 3 :T
I just want to note I am responsible though and never missed a payment.

However my question is are these limits quite low from the providers or are they average, Argos Card - Limit £600, Flybe 24.9 % £1000 Limit, Nationwide Select CC 19.9% - £3500

Even if there low I am happy though on the right path it seems at last, and I shouldnt need more credit now, thats more than enough, I never thought I would be accepted as Experian had my score as poor.

Thanks

[Deleted User]

A total of over £5k limits isn't at all bad in your position.

needpracticaladvice

I know I am very happy, as this is what I needed to have a bit of flexability when needed. I got the top end rate on the select card but still not outrageously high considering. Baffles me why sub prime would never touch me though

BugsyBrowne

I think your taking credit building to a whole new level TBH and personally can't understand what your trying to achieve with all these accounts.

needpracticaladvice

To have available credit if and when needed, IE I purchased a airline ticket from Malev some months ago and they went bust, had I done that on a CC I would have been protected, and to also use fee free abroad, as I say I budget for what I spend for.

BugsyBrowne

needpracticaladvice wrote: »

To have available credit if and when needed, IE I purchased a airline ticket from Malev some months ago and they went bust, had I done that on a CC I would have been protected, and to also use fee free abroad, as I say I budget for what I spend for.

Oh well fill your boots then.

chanz4

needpracticaladvice wrote: »

Hi,

Ive been in the UK now a few years and building up my credit had been a slow process to say the least, I started off with a bank account no o/d or anything, and no credit.

Even Vanquis and Aqua card would not touch me!

Now I have 2 bank accounts a £4000 o/d and a £500 o/d (I use both) 2 Catalogues which both started at £100 limits, one is now £500 and the other £2000. I got a Capital One Secured card a few months ago, because as I said I could not even get sub prime CC, the Cap One was £200 secured limit, with £200 deposit.



I applied for 3 new accounts though and accepted for all 3 :T
I just want to note I am responsible though and never missed a payment.

However my question is are these limits quite low from the providers or are they average, Argos Card - Limit £600, Flybe 24.9 % £1000 Limit, Nationwide Select CC 19.9% - £3500

Even if there low I am happy though on the right path it seems at last, and I shouldnt need more credit now, thats more than enough, I never thought I would be accepted as Experian had my score as poor.

Thanks

Argos = Low
Flybe sygma = about right will rise to about 1250 in 6 months.
cant say about nationwide but not bad

needpracticaladvice

Thanks for that

needpracticaladvice

BugsyBrowne wrote: »

Oh well fill your boots then.

It was okay for you though when you applied for a sygma card and 2 barclaycard all in the same day... weve all been there wanting credit surely?

needpracticaladvice

BugsyBrowne wrote: »

I think your taking credit building to a whole new level TBH and personally can't understand what your trying to achieve with all these accounts.

Building my credit history, to a point where applying for things will be easy...

BugsyBrowne wrote: »

Just counted searchers on equifax 12 in the last 3 months..

Not sure what you were trying to achieve

BugsyBrowne

needpracticaladvice wrote: »

It was okay for you though when you applied for a sygma card and 2 barclaycard all in the same day... weve all been there wanting credit surely?

There's a difference there, B/C was for the oyster, and sygma was when many of us were testing the water, I Can dearly say I have long been shot and wouldn't have no more to do with that outfit(sygma)

Yes I agree we have all been there but you tend to move on from this like anything really, at one point I had 3 sygma cards creation(3 mts) silver card(5mts) Flybe (14-16 mts) I really had enough of paying 4 cards every month as I had a B/C to and not being able to B/T between the sygma cards was not worth it.