Applying For A Barclaycard Before A Limit Rise

TheGenerus1

I am going to apply for a 0% Barclaycard for 28 months as I was given a very good chance of being accepted when doing the Pre-check (not that this is guaranteed).

My question is, I am due for a credit limit increase on my Flybe card (£2300 to £3400) which will be added after my November statement, should I apply for the Barclaycard before the new limit shows or after the new limit shows on my credit reports?

I'm wondering if accepted for the Barclaycard, I would get a higher limit if I applied before the limit raise shows on my reports.

On the other side of the coin, If I applied after the limit raise shows on my report, Then I may be seen in a more positive light with regards to being trusted with a highish limit (to me this is considered high) therefore be seen as a better risk.

Thanks all.

Dirk_Gently_2

I don't think it'll make much of a difference. If your credit record is good enough you'll get one - if it's not then you won't, but I don't think the increase in a credit limit of £1100 will really be that significant. Its more whether your qualify or not rather than qualifying better or worse.

TheGenerus1

Thanks Dirk Gently, I was more trying to figure out what would be the best option under the assumption that I would be accepted for the card. (I know there is a chance of not being approved but let's assume I was accepted).

If I applied before the limit rise showed up on my reports, I may have gotten a bigger limit (well at least a bigger one than if I had the extra £1100 showing on another card).

If I applied after the limit rise showed up on my reports then it may show that I have been trusted with a relatively high limit and can be trusted by Barclaycard to handle a high limit by them well.
It may on the other hand show I have to much available credit elsewhere and hand out a small limit.

Not sure what the best option is, what would someone suggest I do?

You-kip

TheGenerus1 wrote: »

I am going to apply for a 0% Barclaycard for 28 months as I was given a very good chance of being accepted when doing the Pre-check (not that this is guaranteed).

My question is, I am due for a credit limit increase on my Flybe card (£2300 to £3400) which will be added after my November statement, should I apply for the Barclaycard before the new limit shows or after the new limit shows on my credit reports?

I'm wondering if accepted for the Barclaycard, I would get a higher limit if I applied before the limit raise shows on my reports.

On the other side of the coin, If I applied after the limit raise shows on my report, Then I may be seen in a more positive light with regards to being trusted with a highish limit (to me this is considered high) therefore be seen as a better risk.

Thanks all.

How do you know you'll get a credit limit rise and also I thought creation cards put your limit up by 30% which is £690 but you seem to think they're putting yours up by £1100...

AMG762

I believe Barclays and Barclaycard do take into account your available credit elsewhere.

It may therefore slightly affect the credit limit they offer you as you have alredy mentioned

Also having a large amount of available credit elsewhere can affect the online 'offers' on the Barclaycard once its received

simax

You-kip wrote: »

How do you know you'll get a credit limit rise and also I thought creation cards put your limit up by 30% which is £690 but you seem to think they're putting yours up by £1100...

They put my limit up from £2000 to £3000 6 months ago.

.... and have just written to me to tell me they're putting my APR up by 3% pa.

However their actions are pointless as I pay in full each month (and I sent them a message online yesterday telling them that).

blitzboy

If you need the balance transfer now (i.e. you are paying interest on the other card) then do it now. Why wait and pay extra interest?

Personally I'd do it before the increase anyway as the credit limit they give you is likely to be bigger, as they will take into account what you have elsewhere. If the credit limit on the barclaycard turns out to be way above what you need anyway then you can always reduce it afterwards.

TheGenerus1

You-kip wrote: »

How do you know you'll get a credit limit rise and also I thought creation cards put your limit up by 30% which is £690 but you seem to think they're putting yours up by £1100...

I'd be a soothsayer if I knew I was getting a limit increase with the amount of accuracy I gave in my initial post.

I was sent a letter last week from Sygma bank saying that the credit limit increase will be from £2300 to £3400 (50%ish increase) and will be applied after my November statement.

I've had the Flybe card for exactly a year now and was expecting a increase after the initial 6 month review, but didn't get one (Got the limit increase on my creation card instead). I then thought i might get a limit increase after the 4 month review (post 6 month), but still none.

I guess they are now making up for this or it could be the fact that in the last few month I have closed down a couple credit cards totaling £3000.

TheGenerus1

simax wrote: »

They put my limit up from £2000 to £3000 6 months ago.

.... and have just written to me to tell me they're putting my APR up by 3% pa.

However their actions are pointless as I pay in full each month (and I sent them a message online yesterday telling them that).

Along with the limit increase I also got an APR rise of 3% exactly after the interest free period ended

TheGenerus1

I also have a Very catalogue account which has a £5000 limit. Do you think this mail order account limit will weigh heavy in Barclaycards decision on how much credit limit to dish out? or do only credit accounts have the gravitas when taking into account available credit?

Not sure if I should reduce the Very limit (thought it might look good on my credit reports as this is my highest limit account).

Cameron1590_2

Hi all,

Just my opinion on this, I currently have the following cc:

Lloyds bank £950 - £1750 on 0%

Aqua card £0 - £250 soon to be increased to £600

I applied for a cap 1 cashback card and got accepted however I'm sure if I had done this after my increase I wouldn't of received a £500 credit limit with cap 1.

In my case thought I am on a low salary 9-10k a year meaning after my increase from aqua I would have a couple grand available on cc, I don't think they would of rejected me but given me a mere £200 -300 credit limit.

Cheers

C