Prime credit cards - APR reduction and credit limit changes?

Maestro.

I just recently got approved for a BOS all in one card. Finally off the sub prime credit*, but it raises a few questions.

I got approved at the 23.9% APR, with a £2550 credit limit. So I am assuming still a fairly high risk. Is it normal for prime credit to have rates lowered/credit limit increased as you settle into the product, in a similar but opposite manner to if you abuse the product, or is it a case of "i get what I get"

I am not that bothered as they gave me a 0% for 12 months on purchases, so I am just curious.

*I am assuming BOS fall in to the category of prime, though they do seem easier to get than some others.

guesswho2000

Maestro. wrote: »

I just recently got approved for a BOS all in one card. Finally off the sub prime credit*, but it raises a few questions.

I got approved at the 23.9% APR, with a £2550 credit limit. So I am assuming still a fairly high risk. Is it normal for prime credit to have rates lowered/credit limit increased as you settle into the product, in a similar but opposite manner to if you abuse the product, or is it a case of "i get what I get"

I am not that bothered as they gave me a 0% for 12 months on purchases, so I am just curious.

*I am assuming BOS fall in to the category of prime, though they do seem easier to get than some others.

Congratulations! On to your question, credit limit increases generally are forthcoming after a period of time if the account is well managed, APR decreases less likely, although you can ask.

I've never had an APR decreased automatically, but when I had a Barclaycard Initial I asked for a decrease and they lowered it from 26.9% to 18.9%.

On the subject of still being a high risk, not necessarily. My Halifax Clarity card has the 21.9% APR (the highest they give, which is fine, it's only for overseas use) but all my other cards have received the representative APR advertised.

BugsyBrowne

Having good account conduct on all other borrowing as well also this applies to high borrowing elsewhere if any credit card firm sniff high debts elsewhere then less likely for increase on limits etc.

jen245

Halifax have just increased my limit on my Clarity from £3350 to £4100 after having the card for 14 months, but my APR has stayed the same at 19.9%, although Ive never paid a penny in interest. I pay my bill off each month, but have also made some large purchases on my card, as well as my foreign spending, so if you use the card regularly, and pay it off, you should see at least a limit increase