Requesting a credit limit increase from Barclaycard

TheBigBad

Got a Barclays Premier Credit Card last year, I have had 5 statements (5th is actually due tomorrow). Should I wait until I have had 6 before I ask for a limit increase? Current limit is £1500 but I like to make all of my larger purchases on it so that I get s75 protection.

Edit: I usually spend anything up to £1000 a month on it but clear it every month

stephane_2

I would be surprise if they gave you an increase after 6 months.....

TheBigBad

whys that?

jonesMUFCforever

It will in part depend on more than one condition.
If you pay off in full each moth this will look good to Barclaycard.
However I'm sure they will credit score you - the decision will depend on what else you have on credit and past history.

TheBigBad

I dont have much of a credit history as I dont really borrow.

However I setup a business and as things were going well I decided to build a credit history so that I could get a mortgage rather than renting.

I have accounts with Next, Jacamo, Littlewoods and Vanquis, all paid off in full every month. Also I have 4 mobile phone contracts (2 phones and 2 data packages for ipads) plus a Virgin Media contract. No late payments. All been running for a little over a year (2 years for a vodafone contract).

I bank with Barclays also.

BugsyBrowne

I've never paid barclaycard off in full and each time I've requested a limit increase they've approved it so its not whether you pay in full or not as I am sure its based on many more factors.

Ps I had to wait over a year before they allowed me an increase.

TheBigBad

my current limit is less than 0.5% of my income, I'm not asking for much really. I have a lot in Barclays accounts.

stephane_2

TheBigBad wrote: »

my current limit is less than 0.5% of my income, I'm not asking for much really. I have a lot in Barclays accounts.

Barclaycard....Barclays bank operate separately, they don't really care how much you've got.
When they gave you your limit a few months ago, it was based on your personal circumstances at the time, so unless those have changed drastically for the best since then, there are no reason as to why Barclaycard would consider increasing your limit within 6 months and paying the balance in full each month will not help either...

TheBigBad

The only change to my circumstances is that I now have 6 months more credit history than I did back then and I am about to complete on a house purchase (I currently rent)

stephane_2

6 months is nothing in the eyes of Barclaycard....probably best to wait another 6 months...at the end of the day you can apply for an increase at anytime, they will say either "yes" or "no"....

Farside

stephane wrote: »

Barclaycard....Barclays bank operate separately, they don't really care how much you've got.
When they gave you your limit a few months ago, it was based on your personal circumstances at the time, so unless those have changed drastically for the best since then, there are no reason as to why Barclaycard would consider increasing your limit within 6 months and paying the balance in full each month will not help either...

Is this how all CC are supposed to work? Because some of my creditcards only gave me £400-£500 limits while another gave me a £2000 limit from day one. Seems strange that. Although the smaller limit cards i do ask for the limit to be increased approx every 6 months and they do it. One was Nationwide which had a £500 limit and now this is a £800 limit, the other was capital one card which was a £400 limit and is now £750, While the bank of scotland gave me £2000 straight away lol.