How likely are MBNA to increase my credit limit?

Toonsy

I know it depends on circumstances etc etc but in general do people find that MBNA play ball if you ask for an increase? My limit is 7k at the moment but I'd like 8k (so I can shift a balance onto it - 7k would be sufficient but isn't because of their 95% ruling on balance transfers...). Not a massive issue if they won't but it will put a small dent in my latest debt shuffle

opinions4u

Too many factors at play to comment on an individual.

izools

As above, your ability to be approved for an increase isn't down to who you have the card with but your individual circumstances. Depending on:

When (if) you last asked for an increase
How long you've held the account
How you've run the account
How you've run accounts elsewhere
How much credit you have available elsewhere
How much you earn
How much you owe

All of this dictates your likelihood of getting an increase.

Asking MBNA however costs nothing, and risks nothing, so might as well give it a go

Wywth

Toonsy wrote: »

I know it depends on circumstances etc etc but in general do people find that MBNA play ball if you ask for an increase? My limit is 7k at the moment but I'd like 8k (so I can shift a balance onto it - 7k would be sufficient but isn't because of their 95% ruling on balance transfers...). Not a massive issue if they won't but it will put a small dent in my latest debt shuffle

I doubt it in the circumstances.

What you are effectively asking is: "Can I have an even bigger interest free loan compared to the one you voluntarily offered me."

But you may as well ask, the worst they can do is refuse.

YorkshireBoy

Wywth wrote: »

I doubt it in the circumstances.

What you are effectively asking is: "Can I have an even bigger interest free loan compared to the one you voluntarily offered me."

What "circumstances"?

I took an existing customer money transfer offer (0% for 12 months with a 2% fee) from MBNA last Autumn and used 95% of my £20K limit.

Despite only making minimum payments, and still having around £18K debt on the card, they raised my credit limit in January of this year to £25K...and then asked if I'd like another 0% for 12 month money transfer (same 2% fee).

OP, worst that can happen is you have a wasted credit search. Then again, they may decline your request on a 'policy rule' (see the first 3 items on izools' list above), meaning they won't even search you.

Maestro.

25K, that's insane. You must be pulling one hell of an income.

YorkshireBoy

Maestro. wrote: »

25K, that's insane. You must be pulling one hell of an income.

Not at all. It's quite modest really.

Started with an £8K card way back in 2005, talked it up to £14K with an underwriter (those were the days!) on acceptance, and ran it well.

Paid it off and applied for another the following year and got a £6K limit, and ran this one well.

Then merged the limits, leaving just £500 on one of them.

Then took their offer of the increase to £25K as stated above.

Unless they're somehow getting current salary from Fraud Prevention Agencies (some sort of monthly feed?), ie that which I put down on credit applications, they're still using my 2006 salary...perhaps with some inflation linking?

Should add that I have limits across various credit lines of around twice my salary, and (stoozing) 'debt' of 65-70% of my salary. Firmly believe that 8 years of impeccable account management, across lots of high limit credit accounts, is working for me.