How is my credit limit determined?

BigBill1

Hi guys,

I know it's probably not an exact science (and this may be in the wrong place, so if so, please do close my thread or re-direct me!) but I wondered if any one could explain how the bank goes about setting the credit limit that you're offered?

I recently ordered a credit card in Natwest where I got a £5000 limit, however my wife, who shares a joint account with me, has been offered significantly less and her credit check came back good. Any one have any ideas?

Thanks in advance

grumbler

A financial association works mostly one-way only, i.e. it can affect your score only detrimentally if the other person's history is bad.

So, forget about the joint account and concentrate on you wife's personal facts: Credit Ratings

bengalknights

Its most likely due to a association and because you now have £5 hers would be lower

Fruit_and_Nut_Case

BigBill1 wrote: »

Hi guys,

I know it's probably not an exact science (and this may be in the wrong place, so if so, please do close my thread or re-direct me!) but I wondered if any one could explain how the bank goes about setting the credit limit that you're offered?

I recently ordered a credit card in Natwest where I got a £5000 limit, however my wife, who shares a joint account with me, has been offered significantly less and her credit check came back good. Any one have any ideas?

Thanks in advance

Did N/W ask for personal income or household income? If personal income, is there much difference between yourselves? That could explain it.

Or possibly you have been with your employer longer than your wife has been with hers? i.e. more job stability.

Lots of possibilities.