Sygma\Creation Card

victoria797

BugsyBrowne wrote: »

Thanks Victoria das is sick do you get me blood stop dissing and you stay buff yeah.
Got to go the Feds are looking at my yard.

haha omg you are a gangsta yeah? you're actually a nasty biatch lol x

TheGenerus1

Does anybody have any experiences with Sygma bank giving credit limit increases when paying down on one of their 0% on balance transfer card offers.

The 2 Sygma cards I have with them (Creation and Flybe) have both 12 month on balance transfers for which I pay down £120 a month on each of the cards.
I make no additional purchases on the card, only the payments mentioned above to pay off the card before the 12 months end.

How likely are the chances of Sygma increasing my credit limits if they are not making any money from me on the cards?

They are supposed to review after 6 months of opening account (6 months have passed since I first opened these accounts) and then further increases every 4 months dependent on how the account has been conducted.

It really doesn't even have to be a Sygma card, If anyone has had any experiences with ANY cc for which they make no purchases, just making payments towards lowering the debt with a view to clearing it before the BT offer ends. Have you had any auto increases?

stephane_2

It's very unlikely that Sygma will increase your limit while paying down a balance transfer deal and not using the card. As for other lenders, for me Barclaycard have been the most generous, I have 3 cards with them with about £18000 credit limit between the 3 cards....Halifax also gave me an increase recently of £2000 but I have just closed the account to free up some credit...

TheGenerus1

stephane wrote: »

It's very unlikely that Sygma will increase your limit while paying down a balance transfer deal and not using the card.

Not the news I wanted to hear lol.

I was told to never mix purchases with a balance transfer card, which I have been trying to follow.

I have however been doing BT a few times incurring their BT fees as I wanted to show them that they are making a little bit off me.

I probably wrongly figured that by showing them that I am paying down the debt ritually every month and bringing the balance down to 30% utilisation (originally 90% utilisation), they would increase my limit for good account conduct.

stephane_2

Why don't you try requesting a limit increase via their online account management....the worse that can come out is a "no"....

TheGenerus1

stephane wrote: »

Why don't you try requesting a limit increase via their online account management....the worse that can come out is a "no"....

Both my Sygma cards where opened on the 25th September 2012 according to my credit report, so I'm gonna wait till the 25th of this month as that will be the day that the accounts will register as being 6 months old. I'm hoping for an automatic increase around that date.

If I don't get one by then, I will consider the manual request that you have suggested maybe around April time as the limit increase is not essential at the moment. I thought that an automatic increase would have been triggered when new accounts hit 6 months.

I will post if I get an auto increase around the end of the month.

stephane_2

Very few lenders these days will consider giving you an increase every 6 months....it now tend to be once a year....and considering that your account has only been opened since September 2012 then I doubt that they would consider you for one at least until the account has been open and managed for at least one year.

TheGenerus1

stephane wrote: »

Very few lenders these days will consider giving you an increase every 6 months....it now tend to be once a year....and considering that your account has only been opened since September 2012 then I doubt that they would consider you for one at least until the account has been open and managed for at least one year.

I have waited till the accounts registered the 6 month mark and have just received 2 letter from creation yesterday morning.

Both the letters were credit limit increase notifications for both my 6 month old Creation accounts.

Creation card will go from £1560 to £1960 in April
Flybe card will go from £2300 to £2950 in April

Saved me doing a manual credit limit request. :j

rartherinv

On my application I requested £3k in balance transfers. Computer gave me only a £2k limit and, unlike a few others on this thread who were more fortunate, when reviewing application the underwriter refused to bump it up to meet to balance transfer request and said £2k is all he can offer me so I will not be able to make the full balance transfer as requested.

I was disappointed but impressed by a personal mail explaining the issue. Never had this kind of courtesy from a financial institution before. :eek: