Credit Limit

shoebp12

Hi Guys, im about to pay off a Barclaycard i have and then probably cancel it. iv got a few questions does cancelling a c card affect your future applications. also i need a credit card with a high limit is their anyway finding out what limit you are going to get before getting one, ive had various ones from £3,000 to £5,000. i need one which is relatively high so if a company gives me a low one then i wont bother getting one Thanks

grumbler

shoebp12 wrote: »

...does cancelling a c card affect your future applications.

Of course it does, but it's difficult to say how significantly and whether it will be a positive or a negative effect. This depends on many other factors: Old Credit Cards

also i need a credit card with a high limit is their anyway finding out what limit you are going to get before getting one, ive had various ones from £3,000 to £5,000. i need one which is relatively high so if a company gives me a low one then i wont bother getting one

No way to find out. And why does it have to be one card with a high limit?

stephane_2

If that's the only cc you've got then I would suggest that you keep it....and no you will never know what credit limit you'll get until you are accepted for a new one. The limit you'll get will depend on your current level of debt compare to your income....

thenudeone

shoebp12 wrote: »

does cancelling a c card affect your future applications.

Most card issuers won't allow you to have another card for some time after closing one with them, usually 6-12 months
https://www.stoozing.com/cards teels you how long for each one.

shoebp12 wrote: »

is their anyway finding out what limit you are going to get before getting one,

Not usually, although a one or two providers may give an indication at the end of the process, and some providers allow you to pre-apply to see if you're likely to get a card, but without leaving a search record on your credit file. (perhaps Nationwide and Barclaycard ????).
Barclaycard now offers a card with instant access available at the end of the application. http://www.barclaycard.co.uk/personal/credit-cards/platinum-purchase

shoebp12 wrote: »

i need a credit card with a high limit... if a company gives me a low one then i wont bother getting one

If you can manage and are happy without a card altogether, why apply for one at all?

It doesn't really matter whether you have one card with a £5k limit or two with £2.5k. Even if you have a large purchase in mind I'd expect most retailers to be happy to split a purchase of this size onto two cards - I've certainly done this before. Why are you so keen on one card with a high limit?

shoebp12

which lenders usually give higher limits Barclaycard, tesco, halifax ??

izools

IME Barclaycard often give higher limits, but this is mostly dependent on how much you already owe against your income, and what your income is, above anything else.

Nationwide do a soft search during the application and tell you the APR and Limit you can have before you submit a full application.