Nationwide Credit Card Limit

jade78

Hi,
Im somewhat new to this ! I got a standard nationwide credit card, limit being 14.5K, £0 owed, is that the max. limit that card offer? Or is it a high limit as is.

Thank you

[Deleted User]

That's a high limit.

[Deleted User]

These things are all relative. Is £14500 enough of a limit for you? Would a different card be better that might give you a lower but still sufficient limit, but with better perks?

plunt

really varies, Nationwide have given me multiple 'guaranteed acceptance' letters over the past year (provided my circumstances havent changed). and it moved around each time 7.5k first time, 2.3k next time, 5.5k the following time. all for the same card. Think my massive stoozing of 18k is starting to take its hit though.

but from what i have read over the forums, that is on the higher side of their limits

cakeforbrains

My husband has a £9600 limit with them and was offered £12k, which he declined.

jade78

20K limit would be better suited for me as I have a spending of 20K over the last year. Paid back in full. Cant see why I wouldnt get is slowly???

cakeforbrains

jade78 wrote: »

20K limit would be better suited for me as I have a spending of 20K over the last year. Paid back in full. Cant see why I wouldnt get is slowly???

That's a really high limit. Do you need to buy something that's £20k, or is the £20k just spread across the year? If the latter then you don't need the limit to be that high, just make your purchases and then pay back in full each month.

Do you have a high enough income to warrant a £20k limit on a single card?

jade78

Hi.

I have spend, and will spend around £20K throughout the year, bigger to smaller things. But paying it back every month. Last month I charged 10K to my card, but paid back 11K so went into credit :-)

I have been in the same job for years earning a six-figured salary, so Im ok.

Limits are relative to needs I suppose.

Just waiting for them to offer increase again...

gingercordial

jade78 wrote: »

Last month I charged 10K to my card, but paid back 11K so went into credit :-)

Be careful, putting a card into credit on purpose may be against the T&Cs of that particular card and land you in trouble.

jade78 wrote: »

Just waiting for them to offer increase again...

They may do once they are sure you have a decent pattern of repaying the card, but don't expect it for at least six months or so.

jade78

It was purely an accident - Dont want credit sitting there doing nothing as such. I have been with them for 2 years to build up this credit limit, but need not high enough. They can see I have charged thousands but repaid same month. Normally they increase it every 3 month for some reason, so have to wait.

Finishrich

Easiest way is to just call them up and ask to have the limit increased. They'll either say yes or no to your request and alternatively might offer an increased amount somewhere in between which they'll review in either 6 months or a year.