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Ways to Help Increase Credit Limit
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anotheruser
Posts: 3,485 Forumite


in Credit cards
Is there anything I can do to help the chances of increasing my credit limit?
I used my card once or twice, then stopped using it apart from sub£10 transactions.
The bank didn't take a payment one month so I ended up calling them up after I had another bill and they cleared it all off.
However they said the limit had been reduced to just £500 and they couldn't change it for 6 months.
If I spend on the card and it gets paid off in full, will that help my chances?
Thanks
I used my card once or twice, then stopped using it apart from sub£10 transactions.
The bank didn't take a payment one month so I ended up calling them up after I had another bill and they cleared it all off.
However they said the limit had been reduced to just £500 and they couldn't change it for 6 months.
If I spend on the card and it gets paid off in full, will that help my chances?
Thanks
0
Comments
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What do you mean by 'the bank didn't take a payment one month'?
I assume you missed a payment and the bank want to see you stick to your terms snd conditions for 6 months before allowing you more credit. So paying in full would not necessarily help speed this up.0 -
I had a DD which wasn't collected for that month - it appeared to simply disappear from their system, despite previous months being paid off in full.0
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anotheruser wrote: »I had a DD which wasn't collected for that month - it appeared to simply disappear from their system, despite previous months being paid off in full.
That's a bizarre occurrence -that's a hazard that I'll be aware of if I ever use DD to pay my CC0
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