Suddenly only getting rejections

baileywin

Innovate wrote: »

Why on earth have you decreased your credit limits?

One of the things highlighted in this thread was a high amount of available credit (CreditExpert reckoned it at £10-£11k). I've now cut this in half.

iAMaLONDONER

baileywin wrote: »

One of the things highlighted in this thread was a high amount of available credit (CreditExpert reckoned it at £10-£11k). I've now cut this in half.

Isn't there a risk that it might look like the CC company reduced your limit?

Experian_company_representative

High availability of credit isn't necessarily a bad thing. More important is how you're using it. Lenders look at utilisation ratios (balance vs limit) and the lower the better. By cutting your limits you've probably increased your utilisation, which might have a relatively negative impact on scoring.

James

baileywin

As an update to this, I've applied to American Express' "Gold" card (for the introductory benefit / quidco cashback) and been accepted.

I won't chance the other providers who have rejected me until another few months have passed, though.

Thrugelmir

baileywin wrote: »

As an update to this, I've applied to American Express' "Gold" card (for the introductory benefit / quidco cashback) and been accepted.

Isn't that a charge card?

What's the annual fee?

baileywin

Thrugelmir wrote: »

Isn't that a charge card?

What's the annual fee?

It's the charge card, yes. No fee in the first year.

http://www.hotukdeals.com/deals/get-paid-60-sign-up-for-an-amex-gold-card-via-quidco-no-fee-possible-100-vouchers-1843611

My current American Express Rewards card is paying 1% cashback - so £2,000 spent would be £20. This way that same £2,000 spend would be £100... After that I'll probably cancel it.