Credit Advice

Moneywise96

Closed thread

Tixy

Hi

Usually lenders won't consider a credit limit increase for 6months.

If the only reason for the cards is to build up a positive credit history, and you are only spending £50/£20 a month on them then for what reason would you want an increase in the card limit.

After 6-9months of repaying credit agreements on time other potential lenders will be likely to start considering that as a reasonable repayment history for those cards.

But an £8k loan is a significant step up in terms of risk for potential lenders and so could wll be difficult to get accepted for in the next year or so, especially given your age (assuming that you are earning a decent salary).

Moneywise96

Hello Tixy,

Thanks for your reply, reason being for increase that then I could spend more on them per month to display better lending.

Thankyou for clearing up about increase waiting time hoping to secure a loan within the next 2 years or so with a salary of £18,000