Asking for a credit limit raise..

billymadbiker

Hi,
I have a barclaycard with a £12k limit (empty).
I have had a 0%-18mths balance transfer offer.
I would like to put £10k on this offer.

I also have a Lloyds CC with a £6.5k limit. (also empty)
Obvious thing to do would be ask lloyds for a credit limit raise to £10k, and use that for the payment then transfer the whole lot to the barclaycard.

If I ask (apply online?) for a increase is there any chance of it backfiring?
I had the BC after the lloyds so I don't know if there is a risk of them credit checking me for the increase and then deciding to reduce my limit instead, or if there is a chance that BC may see the increase in my credit limit and then reduce the limit on the BC?

Or should I just make 2 payments then 2 transfers?

Thanks!!

dotdash79

do 2 payments and 2 transfers

InsideInsurance

It is unlikely to backfire, certainly never heard of anyone asking for an increase but actually having the limit reduced as a consequence.

Normally its an automated system, just like new applications, that result in 3 (or arguably 4) responses - 1 Authorise, 2 Refer to underwriting, 3 Decline (4th would be a Fraud referral). In theory the refer to underwriting could be used in cases of worry about the current limit but most the time its just borderline cases on an increase.

If you want to do 2 transfers to BC and do things that way check the terms with BC that it does cover multiple transactions

billymadbiker

Wondered if it might be worth ringing Lloyds and asking on the phone if there is a increase available to me?
If they say no, or tell me I would have to request a increase then I could just ask them to leave it and do 2 transfers