Highest credit limits on BT cards

Elsie348

I'm looking to do a balance transfer, but need a credit limit of over £3000. Do such offers exist, or are they all around the £1300 mark (in which case I'd need two cards, maybe three, which I'd like to avoid!)?

Thanks.

blitzboy

Credit limits depend on personal circumstances, i.e credit history, income, current credit used/available, etc.


If these are all decent then 3000 shouldnt be a problem

Donki

Agree with Blitz it all depends on your financial circumstances what your credit limit is set at. Most companies will review your limit every 6 months so if you cant transfer all you want in one go, wait 6 months then ask for a credit limit review. If you are successful BT the more money to get the 0%.

Elsie348

I looked at one and there didn't seem to be an option to increase (£1300, I think, was the max.). Does the option appear at the end of the process?

YorkshireBoy

Elsie348 wrote: »

...or are they all around the £1300 mark...?

Why would you think that?

Are you misreading the £1,200 example credit limit that all providers base their APR calculations on?

Donki

No you cannot request a rise in your credit limit on your initial application, well you could probably ask them on the phone but I doubt they would rise it. You have to have had the card for 6 months (in my experience) before you can request a rise in your credit limit. Or if you have no outstanding debt on your card they seem to automatically raise it for me, a tad annoying.

Elsie348

YorkshireBoy wrote: »

Why would you think that?

Are you misreading the £1,200 example credit limit that all providers base their APR calculations on?

No this was based on the limit they were offering towards the end of the application process (which I didn't complete, as it raised issues).

I have a low income - which was entered in the process - which might be accounting for the lower limits.

Does having multiple cards effect credit scores?

YorkshireBoy

Elsie348 wrote: »

I have a low income - which was entered in the process - which might be accounting for the lower limits.

I agree. You said "limits", as in more than one...how many applications have you started and not completed?

Does having multiple cards effect credit scores?

Yes, and more so if you have balances on them...especially with a low income.

What's your:

Income?
Total credit limits (inc overdraft facilities)?
Total balances (including overdraft facilities)?

And how many cards/current accounts with overdraft facilities do you have?

Elsie348

Just one so far, as I thought it made sense to ask here first.

Income: £7700 (annual)
Total limits: £6000
Total balances: £3830

I only have one CC at the moment.

YorkshireBoy

Elsie348 wrote: »

Just one so far, as I thought it made sense to ask here first.

Income: £7700 (annual)
Total limits: £6000
Total balances: £3830

I only have one CC at the moment.

To be honest I think you've done well to get another £1,300 of credit facility (provisionally) 'offered' with those numbers.

There's no way you'll get anywhere near the £3,830 required in my honest opinion...so take what you can while you can.

Elsie348

I opted to LOWER my credit limit from £8000, if that counts for anything. I've been with Barclaycard for years and the limit had gone up over the years.