CC Limit increase, steps taken, to increase your Changes of an increase ???

Danny_G

Barclaycard- You aim apply for a credit limit increase in 6 monthsl,

say you have a limit of £1500, but want £2500-£3000 (an extra £1000-£1500 ) in 6 months.

this will be applied in 6 months,

What steps can be taken between now and then, to make sure it looks like you are using your card well ?

(eg, use it once a month, and pay back the full balance within days?)

Give some steps/plan, which will show that the card has been used well, for the next 6 months - to increase the chances of the card limit increase to be accepted

grumbler

Don't miss payments and don't hoover close to the limit if you make minimum payments.

That said why are you desperate to get £3K? Do you spend this amount every month? And this is £1.5K extra, not £1K.

Danny_G

grumbler wrote: »

Don't miss payments and don't hoover close to the limit if you make minimum payments.

That said why are you desperate to get £3K? Do you spend this amount every month? And this is £1.5K extra, not £1K.

ammeded, cheers

BugsyBrowne

Danny_G wrote: »

Barclaycard- You aim apply for a credit limit increase in 6 monthsl,

say you have a limit of £1500, but want £2500-£3000 (an extra £1000-£1500 ) in 6 months.

this will be applied in 6 months,

What steps can be taken between now and then, to make sure it looks like you are using your card well ?

(eg, use it once a month, and pay back the full balance within days?)

Give some steps/plan, which will show that the card has been used well, for the next 6 months - to increase the chances of the card limit increase to be accepted

Depends on other credit commitments also as they won't increase your limit if say you are maxing out other credit.

kv87

I thought rather than create a new thread I would piggy back off this one

I've got a Amex Platinum Cashback with £4000 which I have been using for 8 months. I have always repaid on time and don't really get anywhere near the limit and my credit score (according to experian) is 'Excellent'

Given these factors, I am thinking about upping my limit (just for credit reasons not spending), so (if it's possible to answer) what would be the highest increase I could ask for and not be shut down?

reclusive46

kv87 wrote: »

I thought rather than create a new thread I would piggy back off this one

I've got a Amex Platinum Cashback with £4000 which I have been using for 8 months. I have always repaid on time and don't really get anywhere near the limit and my credit score (according to experian) is 'Excellent'

Given these factors, I am thinking about upping my limit (just for credit reasons not spending), so (if it's possible to answer) what would be the highest increase I could ask for and not be shut down?

Amex raised my credit limit by about 25% in the 9th month without asking.

rdwarr

kv87 wrote: »

I am thinking about upping my limit (just for credit reasons not spending), ...

Which reasons would those be? Wouldn't having a high CC limit decrease your chances of a lower interest loan should you need one?

Having said that my Amex started out with a £3k limit and is now up to £9.1k. I pay it off every month though.

dakkan

I have barclaycard customer for just over a year now.. I tried to apply for increase every 3 months since I received card but always got declined.... however after 12 months, I received letter from them that my credit limit increase from £2K to £3.2K !

My account history in the past 1 year with them was as follows :

1> took advantage of 0% balance transfer offer, but did not realise that I should not use it for purchase, hence I got charged interest, so paid back all in full next month
2> Suddenly after 4 months, got 6.9% balance transfer for life, so took advantage of it but paid in full in 6 months.

Therefore I think, if you clear your balance with them every now and then, you have better chance of getting your credit card limit increase.

On top of that they have offered me lot of different products as well...

I hope above helps.

rdwarr

It's just an opportunity to get into debt. Why strive for an increase?

kv87

rdwarr wrote: »

It's just an opportunity to get into debt. Why strive for an increase?

Well I don't intend to to hit that limit (I barely go beyond 25% of my current limit as it stands) and always pay off in full every month.

My understanding is that if you have a history of being able to manage large credit that it would be of benefit when applying for a mortgage or some other larger loan (for when I would actually need one)

chanz4

kv87 wrote: »

Well I don't intend to to hit that limit (I barely go beyond 25% of my current limit as it stands) and always pay off in full every month.

My understanding is that if you have a history of being able to manage large credit that it would be of benefit when applying for a mortgage or some other larger loan (for when I would actually need one)

not 100% true