What is your credit limit (especially for under-22s!)

iAMaLONDONER

V_Chic_Chick wrote: »

Mine is a £750 free overdraft facility, though I could get it upped to £2000 if I wanted to.

Are you with Halifax or HSBC?

The_MoneySavingKid

I'm 20 and I have a £1400 student overdraft from the Co-op and a £250 limit from an Aqua credit card.

iAMaLONDONER

The_MoneySavingKid wrote: »

I'm 20 and I have a £1400 student overdraft from the Co-op and a £250 limit from an Aqua credit card.

Is that the reward card??

lordra

Just moved to the Uk, was 24, had a card with £500 from Vanquis that they upped to £1000. Then Capital One at £500 atm, and another from MBNA for £1800, but I closed it as I wasn't using that kinda money anyways. The more expensive "credit building" cards like Vanquis and Capital One report your monthly payments and how you manage your credit IN DETAIL to the agencies, so if you're looking to build, then these are cards are what you need to get. And pay off in FULL, each month, to avoid interest or at least the minimum, usually £5, as it all gets reported.

Best cards for improving score, IMO.

iAMaLONDONER

lordra wrote: »

Just moved to the Uk, was 24, had a card with £500 from Vanquis that they upped to £1000. Then Capital One at £500 atm, and another from MBNA for £1800, but I closed it as I wasn't using that kinda money anyways. The more expensive "credit building" cards like Vanquis and Capital One report your monthly payments and how you manage your credit IN DETAIL to the agencies, so if you're looking to build, then these are cards are what you need to get. And pay off in FULL, each month, to avoid interest or at least the minimum, usually £5, as it all gets reported.

Best cards for improving score, IMO.

What do you mean reporting in (more) detail (to the CRA)??

SavingRookie

iAMaLONDONER wrote: »

All the student account have ODs

ANd credit cards too but some are more strict than others

I went into branch to get some documents certified to open a saving account in october and I was signed up for a student CC (at Lloyds)- the irony!:p

I have a student account with Barclays and they don't have a student credit card.

However, I did apply for a credit card at Capital One just over a year ago to start building my credit history early and now have a limit of £1500.

BaxUk

21 - £3000 CC and £750 OD

dollywops

I was on the phone to Santander sorting out something on DD's account. When it was all done, they asked if they could do anything else and mentioned that it was showing up on her account that she could have a cc. OH and I said it was time she had her own cc, and started to build up some credit history (one day, hopefully, she might need a mortgage). She went through the application over the phone and was then told that her limit would be £14,300!!!!

She was 21 in August, became a paid employee in November and got the cc in January.

I would point out that there have been some major transactions in and out of her bank account, ie shares sold, shares bought. However, this does not justify that amount of credit for a 21 year old.

iAMaLONDONER

dollywops wrote: »

I was on the phone to Santander sorting out something on DD's account. When it was all done, they asked if they could do anything else and mentioned that it was showing up on her account that she could have a cc. OH and I said it was time she had her own cc, and started to build up some credit history (one day, hopefully, she might need a mortgage). She went through the application over the phone and was then told that her limit would be £14,300!!!!

She was 21 in August, became a paid employee in November and got the cc in January.

I would point out that there have been some major transactions in and out of her bank account, ie shares sold, shares bought. However, this does not justify that amount of credit for a 21 year old.

Wow that's a seriously high limit!

Tbh I'd love to have a CC with such a high limit !

TheEffect

iAMaLONDONER wrote: »

Decent- what's flybe? I haven't heard of them

Oops, must have missed this reply.

It's an airline. The card is actually underwritten by Creation. Since my last post, they have sent me a letter stating the APR would be increased to 28.9%.

It's a crappy card, high APR and the rewards are rubbish, so I'd recommend avoiding them. They're known for having a lower acceptance requirement than other mainstream credit card providers.

I'll be closing it as soon as I've paid off what's left on the balance.