Highest limit credit cards

Rolandtheroadie

MBNA. My limit was 25k at one point, but I halved it incase it had an adverse affect on my credit rating (too much avaliable credit, dont know if it matters).

nick74

scotsman4th wrote: »

MBNA. My limit was 25k at one point, but I halved it incase it had an adverse affect on my credit rating (too much avaliable credit, dont know if it matters).

I know its often said that available credit can have an adverse effect, but certainly it never seemed to in my case. Despite having the MBNA card with a £21k limit and zero balance, in that time I was accepted for two mortgages, various other cashback credit cards including an Amex Platinum, and two current accounts with overdraft facilities.

Hence I'm now quite sceptical that 'available credit' actually bothers many lenders.

hillcats

YorkshireBoy wrote: »

Are you referring to section 75 protection? If so, and it applies to your transaction (there are exclusions), then you only need to pay 'something' - even 1p will do - on the credit card to ensure the entire purchase cost is protected.

So, any old card with any old limit will do.

I believe the 'official' minimum is £100.00 for full S75 protection?
I have however personally complained to my card issuer over much much smaller disputed sums and for varying reasons from defective items to non receipt (eBay) and my money has been refunded after investigations / proof provided. (This even after exhausting the PayPal process) If you just make an initial deposit of say £250.00 on a credit card then pay the balance in cash / cheque / debit card then your credit card issuer remain responsible for the full purchase price.

eskbanker

hillcats wrote: »

I believe the 'official' minimum is £100.00 for full S75 protection?

The total value of the purchase needs to be over £100 but there's no minimum for the CC payment element which can be anything, even down to 1p (theoretically) in order to qualify for Section 75 protection.

InsideInsurance

It is all too personal, not only on if they will give you a card at all but what limit they put on it will vary.

Everyone here is saying MBNA but they declined me the 3 times I applied (over the course of time), after each decline I applied for another card (HSBC £12,000, Capital One £10,000 and Nationwide £3,800) and had reasonable limits from each.

If you meet their criteria and are the type of person they like they'll give you a card with a reasonable limit. If you don't meet their preferences they wont or will give you a low limit.

allpine99

Thanks for your replies . After summary the general consensus was that MBNA gave out decent limits so i applied for their card and got accepted with a 12k limit .

Thanks

planteria

nick74 wrote: »

.......Hence I'm now quite sceptical that 'available credit' actually bothers many lenders.

me too. i have not found that to be a problem in the past. that said, the limits i am offered nowadays are lower than in the past, so unsure whether that is 'the times we are in' or whether something is putting lenders off for me :think:

planteria

and good going allpine. are you pleased with that?

Clive_Woody

allpine99 wrote: »

Thanks for your replies . After summary the general consensus was that MBNA gave out decent limits so i applied for their card and got accepted with a 12k limit .

Thanks

Couple of additional points. Most travel agents will charge a fee (2.5 - 5%) if you try and pay for your entire holiday on a credit card. As already stated you only need to pay the deposit by credit card to get full section 75 protection.

A bit late but additionally you might now want to check which credit cards are best to use abroad as I am pretty sure MNBA cards are not great for using abroad (due to fees and interest).