Increasing CC limit or new card?

pledgeX

I've currently got a Natwest credit card which I've had for around 3 years. Paid it off in full ever since I've had it and as far as I'm aware have a clean credit history. The limit on the card is ~£3.5k.

In around 15 months I'll be getting married so in the next year or so I'll be spending a fortune, and ideally I'd like to put in on my credit card - purely for the extra protection, I'll still be paying it off in full at the end of the month.

3.5k isn't going to be enough to cover the costs, I would need to double my limit, preferably triple it. What are the chances of Natwest agreeing to this? I already have 75% of the money, but it's in an ISA so Natwest don't know about it.

Alternatively, I was thinking of getting another credit card that has a cashback deal on it, such as the capital one mentioned here, but I'm not sure whether it has a limit/I'd be accepted.

I'd rather stick with Natwest than open a new account purely to save hassle, but what I'm worried about is being declined the increased limit from Natwest, which in turn causes me to be turned down for a new account.

Anyone had any success/failure at getting their limit increased or any thoughts on the matter?

reclusive46

Regarding the rewards side of thing. If you use your CC every month and pay it off in full you'd definitly be much better with a cashback/reward card. American Express, Capital One and Barclaycard all issue cashback cards. Amex and Barclaycard also issue other types of rewards card. (Amex currently have any offer on their gold card that if you spend £2000 in the first 3 months they give you enough points for two flights to somewhere in Europe). You also might want to look at one of MBNA's or Amex's airline credit cards. Maybe the miles would come in handy for a honeymoon?

Regarding the limit it is possible you will be given a higher limit but if your not being rewarded for spending, I'd look somewhere else. (Natwest's your points card is completely useless, I'd avoid it.)

Also check out the Amex guide at http://www.moneysavingexpert.com/credit-cards/american-express-cashback Many offers if you have a smart phone. For example. £15 off a £50 fuel spend for Amex cardmembers. You also get purchase protection for 90 days with Amex. This means if anything you buy with the card becomes damaged or stolen then you are insured by them. Might be useful for wedding items.

YorkshireBoy

pledgeX wrote: »

ideally I'd like to put in on my credit card - purely for the extra protection

Are you aware that you only need pay 'some' of the cost (ie a deposit) of the goods and/or services on a credit card and still enjoy full section 75 protection?

I would need to double my limit, preferably triple it. What are the chances of Natwest agreeing to this?

Slim, if you're on a £15K salary.
Excellent, if you're income is £50K or higher.
For anything inbetween I'm not prepared to guess.

stephane_2

For Natwest to double your limit over next few months....maybe but very unlikely....triple it, I would say that it is a definite no. Your best chances would be to ask for an increase and see what they are willing to give you & apply for another card.
Myself I have a Natwest Platinum with a similar limit to yours....and been accepted & received card few days ago for the Natwest World your points with a £6000 credit limit & 13 months @ 0% on Purchases..so you could try that...nothing stop you to have 2 Natwest credit card.

pledgeX

Thanks for the advice all. If I ask Natwest for an increase, will they run a credit check and potentially count against me if I'm declined? I think I read a while back that it's not a good idea to have a lot of credit checks done in a short space of time, or maybe that's only if you're declined lots in a short space of time??

I'm not sure whether it's worth the effort of getting a new account as I only use my credit card for online purchases. Everyday spending (which is about 80% of my spending) comes out of the joint account as that's easier to manage between me and the missus.