How can I increase my credit limit?

julesbrook

I have been 'stoozing' for only a few months but have only managed to get £1500 credit limit on both a Citi card and an Egg card resulting in a total of £3000 in super balance transfers. My credit limit on my Goldfish Card which I have been using for purchases for years is £12000 (always paid in full every month, never been in debt). How do I increase my limit for new cards. I have rung and asked them to increase it but they say 'no'.

grumbler

Do you actually need £12K limit on Goldfish Card? I think you should ask it to be reduced if you do not use it.

julesbrook

No, I don't need 12k on a Goldfish Card (it was for a special purchase). The point is they gave it to me when I asked. I shall be cancelling the card next month and changing to a cash-back card.

If I reduce my credit limit on the Goldfish now will this enable other credit card co's to increase my limit?

grumbler

julesbrook wrote:

If you have a helpful answer to the original question I shall be glad to hear it.

I hoped that my answer is quite clear and helpful
Well, read this THREAD , and post #3 in particular.

P.S. Also 'Should I cancel old credit cards?' article and DISCUSSION

40079

Some of the CC companies may increase credit limits if you prove you have savings available to cover off the higher limit. RBS companies (including Tesco and Mint) certainly do this

julesbrook

Thanks for that.

Now realise available credit is probably counting against me.

grumbler

julesbrook wrote:

Now realise available credit is probably counting against me.

Now I have some doubts that cancelling Gold Fish (or reducing credit limit) will help to increase credit limits of other cards that you already have. I think they do not make new credit search when you ask them to increase limit. Hence they do not have up-to-date information unless you tell them.