Credit card limit

coburnm

I am trying to transfer a credit card for my wife to me on 0% balance transfer, I have been offered a limit of £1200, but need just under £5000. Will they up my limit if I accept the agreement? Many thanks

bengal-stripe

Were you actually offered a limit of £1200 or did you find it in the promotional literature (all the samples about cost are based on £1200)?

If the limit is not what you had hoped for, the CC is not likely to increase the limit immediately, but will want to see how well you are running the card before they raise the limit (or not, as the case may be).

But even if you only get a card with a lesser limit, transfer as much as you can, which will be cheaper than not transferring at all.

coburnm

Thanks for the reply. I applied online, went through the info and was advised the limit is £1200, so I just cancelled it by not continuing. So you would suggest take it, Transfer and apply for another ?

SuzieSue

coburnm wrote: »

Thanks for the reply. I applied online, went through the info and was advised the limit is £1200, so I just cancelled it by not continuing. So you would suggest take it, Transfer and apply for another ?

That's what I did. I applied for a 0% BT card with Santander but they only gave me a low limit. I rang them and they said that I could appeal the limit but it might affect my credit rating. So instead I applied for another (slightly diffferent) 0% BT card with Santander and another one from Halifax. (Just to add that I do have a very good credit rating and have never been turned down for a credit card in the last 25 years).

Sea_Shell

I'm hoping Santander will agree to give me a higher limit on the 0% purchases cc. I'll give it a few months of use and then ring. Or do you think they might offer a higher limit, as i approach the current one?

Kendall80

Yes use it and apply for another. I'm currently trying to shift a 7k balance after a car purchase last year. Got 5k from nationwide and will be applying to santander next. 0.55% and 0% tranfer fees respectively.

coburnm

Thanks for the replies ladies and gentleman, I thinking about just getting a loan and consolidate my a couple of credit cards, or do you reckon its better to aim for the 0% credit card? :beer:

forgotmyname

You can try but you dont want lots of CC applications on your file in a short space of time, it will seem like your desperate to take out the cards.