Requesting a credit limit increase from Barclaycard

goaroundnow

BugsyBrowne wrote: »

You sure you are replying on the correct forum.

I think so. The OP said his current limit was 0.5% of his income which I calculated to mean his income was £300k.

TheEffects

Hi

When you request an online limit increases do they carry out a credit search or base it on you account performance in the past. Also when you request a limit, what is the maxium available to you. As with Halifax overdraft they always stated the maximum you are allowed have when you applied for an overdraft.


Thanks

The Effects

stephane_2

TheEffects wrote: »

Hi

When you request an online limit increases do they carry out a credit search or base it on you account performance in the past. Also when you request a limit, what is the maxium available to you. As with Halifax overdraft they always stated the maximum you are allowed have when you applied for an overdraft.


Thanks

The Effects

Each time I have requested an increase on my Barclaycards they've never searched my credit report....always based on my accounts conducts. Also a way of knowing how much they'll give you is to put a high request and it will tell you...."we can offer you...."

Simon7685

I got Barclaycard Initial last May with a limit of £250, I used the card every month and paid in full. In November I asked for a limit increase using the online request form, I asked for £750 and it was accepted instantly, with no further credit check appearing on my file.

Last week having continued to use the card and pay in full each month, I asked for an increase again by online request from £750 to £1250 and again it was accepted and increased instantly. So far nothing has appeared on my credit file to say they have carried out another check.

I think that maybe they have some sort of internal credit scoring which says what they will let you have and as long you request within that, it lets you have it. Maybe I am completely wrong with that but both my requests have flashed instantly as accepted and immediately made available.

I guess it does go a lot on how you operate your account with them, also what you are asking for.

TheBigBad

They increased my limit shortly after I started this thread from £1500 to £3500 and last month it went to £5000

CherlokHomes

TheBigBad wrote: »

They increased my limit shortly after I started this thread from £1500 to £3500 and last month it went to £5000

So you've had 2 credit limit increases from Barclays in 6 months!

TheBigBad

Innovate wrote: »

So you've had 2 credit limit increases from Barclays in 6 months!

Yes, first one at the beginning of March, second one towards the end of May.

I requested the first one online but was told to contact them so I did a live chat. The next day the limit went up. Then last month I just requested an increase to £7500 and it said no but we can give you £5000

EvaCustard

There is no rhyme or reason to Barclaycard, I have an initial card which I have had for donkeys years, credit limit was £260. I never use it. Called them to cancel it a few months ago and they increased it to £3k to keep me as a customer.

Bonkers.

alexjonsson

TheBigBad wrote: »

I got a higher limit than this on my first ever credit card when I was 18 and had just started my first job.

I was similar. At the time I was earning £21k and had a £10,000 limit on Barclaycard, £20,000 limit on Amex, and a AUD$20,000 limit with Commonwealth Bank in Australia. And in fact this was the case all of last year when I was unemployed.

I'm happy to say that I was never maxed out on any of them, but it's a great example of how credit limits can creep up, and how, if I wanted to I could have got thousands of pounds into debt.

I'm now happy to have closed two accounts and have zero balance just a £6000 limit on the Barclaycard - and only really want to keep that for 'emergencies'.

khakilad

They seem to be quite erratic at increasing your limit for some reason.

I had a limit of £9,000 for three years and then all of a sudden they kept increasing it by £4,000 in a matter of months for it to eventually finish on £25,000. There is about £2k balance on a zero %.

I don't see why they keep increasing the limit if I am not using it?

Has anyone got any suggestions as to whether I should ask them to reduce the limit or does that look bad on my credit file?


Thanks