When/how to go about increasing limit?

bodmil

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grumbler

The best way is not to increase it at all. It makes no sense to pay interest on a CC balance when you have savings.

bodmil

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sivs

I had to wait for about 6 months before I was able to request for an increase.

If you go on the online system, it gives you an option to increase credit limit, I tried it before the 6 months and said no but will let me now.

Let us know how you get on.

sfax

If it's new and they gave you a £4k limit, that's their maximum based on what you told them and your credit report. Asking for more will likely result in a credit search and either a decline or not much of an increase. Wait at least 6 months, probably a year IMO

JakeGreen

When you applied, was there an option for you to opt out of automatic rate increases?
The norm is to wait 6 months and then ask for an increase (if they don't automatically give you one anyway after six months)
When does the 0% rate end?

The_Boss

Agree with the two posts above - wait at least 6 months and ideally up to a year to create a good repayment profile with the lender. If you tried now and were rejected you would likely need to wait 6 months from now at least, further delaying an increase in credit.

Surely tax, insurance and MOT will not use up most of the remaining credit anyway? If you cannot fund some of this from salary then it suggests that you could be living beyond your means.

bodmil

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jon142

Personally I would give them a call, the lovely thing about marks is just ask to speak to underwriting and you get to speak to someone who makes the decision there and then.

If you've managed your account well. Debts elsewhere aren't to high and if your on a promotional rate I think they'll increase it for you.

01244879080 - ask to speak to underwriting.

bodmil

Thanks Jon, I reckon I'll wait a few more months as I'm only paying the minimum amount off each month so hardly blowing them away with repayments.

Gurranes

Waiting a while is the best policy, the newer you are the more likely the decision will be to maintain at the limit given on opening. They might have some small uplift, but if you take that now then the counters will reset and months since last limit increase will be a factor later on. A rejection now probably won't count against you.

Maintain those payments, more than minimum will probably help raise your internal scores, but trade that off against your 0% offer.