Vanquis credit limit increase - accept or not??

owlet

Discharged from BR in March this year. Got Vanquis & Cap one credit cards a couple of weeks later both with £500 limit.

Vanquis have emailed to say they will increase my limit to £1000 at the end of September.

Do I accept or not?

I don't need an increase & I spend between £100 - £200 a month & pay in full.

Would it make my credit history look any better to accept? That's the only reason I would accept it. I'm not tempted to use credit in a silly way now and I wouldn't increase my spending.

Helpmeoutofthismess

owlet wrote: »

Discharged from BR in March this year. Got Vanquis & Cap one credit cards a couple of weeks later both with £500 limit.

Vanquis have emailed to say they will increase my limit to £1000 at the end of September.

Do I accept or not?

I don't need an increase & I spend between £100 - £200 a month & pay in full.

Would it make my credit history look any better to accept? That's the only reason I would accept it. I'm not tempted to use credit in a silly way now and I wouldn't increase my spending.

I accepted my limit increase, I don't want to ever have to use it but if we get given notice on our rental we will be in a right pickle, by the time we have paid our extortionate rent (South East :sad:) and the bills we have nothing left to save :sad:

H x

owlet

That is a good point. It would pay to have it there in case of emergency. I was doing well with my emergency fund until a huge vet Bill swiped £700. I will get it back from the insurance but it's the waiting game!!

BlueEyedGirl

If you can trust yourself then accept the increase.

alastairq

No problem accepting it....eventually it will rise to around 2.5K.

The disincentive is, the extortionate interest charges if the balance is not repaid by the due date each month.

owlet

Ok great, thanks for your views. I know I can trust myself so I'll accept it :-)

carlislelass

Mine eventually went up to £3000!!! eek