First Direct Gold Card - Increase credit limit

TheEffect

I didn't continue with the application. They wanted an explanation of what I was going to buy whilst abroad, how much my hotel was, how much the deposit was, why I didn't choose a higher limit when applying, as well as all my outgoings, income etc, and it felt a little too intrusive.

I told them not to go ahead with a credit search after I found some of the questions were, in my opinion, too intrusive and unnecessary.

Ironically, I chose £0 overdraft when opening my 1st account. I guess if I decided to ask for the £500 standard overdraft now, they'd still interrogate me.

Thrugelmir

TheEffect wrote: »

I told them not to go ahead with a credit search after I found some of the questions were, in my opinion, too intrusive and unnecessary.

If you had less recent credit related activity then it would be a straightforward matter. You cannot expect a free ride when conducting such a transaction.

starM

I don't think that's anything to-do how much credit he applied for recently. If FD had an issue they wouldn't have accepted the Current Account and credit card in first place.

He might just had a wrong person to deal with his credit limit increase request. It is possible FD would have made notes on his account now - although no harm in trying again. Otherwise just wait for afew month and have good transnational history on your bank account and apply again.

MARTYM8`

Was thinking of applying for the £25 (offer closes next Sunday I believe) and interest free period on purchases for 17 months?

Has anyone had difficulty being accepted when applying initially - I would assume if you meet the criteria for a current account with them they should be willing to approve a £500 limit credit card.

msallen

I had no real problems but I did have to go through a phone call with someone. I did ask for (and get) a 5K limit though.

TheEffect

They didn't credit search me when I applied. If you're only after the £25, I can't imagine you'd have much of a problem being accepted for a £500 limit.

starM

msallen wrote: »

I had no real problems but I did have to go through a phone call with someone. I did ask for (and get) a 5K limit though.

What questions did they ask you during the phone call?

msallen

starM wrote: »

What questions did they ask you during the phone call?

About other cards; did I have the means to pay them off (this showed I was stoozing); about the transactions on my FD current account (this showed I was just using it for the regular saver). Why I wanted that size limit.

In short he didn't seem to care that I was pretty obviously going to slow stooze it. He was only concerned with risk.

TheEffect

Just thought I'd come back and update this in case anyone searches for a similar thread in the future.

I phoned FD again today after having the gold card for a few months and asked them to increase the limit from £500 to £1000. They put me through to the credit approval team (as I didn't have any pre-approved limits) who asked a lot of questions, then looked into my HSBC account (yes they can see your HSBC accounts), then looked at my credit report, before declining me.

Declined due to a large amount of searches (10 in the last few months), as well as quite a few new accounts opened in the last year, which is fair.

Interestingly, FD can see all of your HSBC accounts. They also look directly at information on your credit report, unlike most banks who run all the information through a computer (and don't see your report directly) and get a 'yes' or 'no' decision.

bigadaj

First direct are a subsidiary of hsbc.