How much is your highest limit on your credit cards?

planteria

why not use it for all of your spending though, Andy?
is this card generating points/cashback for you?-if not, why not use one that is and channel as much as you can via the new card?

SamGR

Im 22 years old with a salary of 22k yer year.

Barclaycard £10,500
MBNA £9,500
Capital one £900 (had this card for 4 years and they have increased it once from £300 back 3 years ago)
First direct £2000

MallyGirl

fred246 wrote: »

I've applied for loads of cards over the years. I have never paid any interest or other charge. Go for 0% purchase and pay it off just before the end. I find the credit limits totally random. I've asked for limits to be increased when I have got to the max through normal spending. They seem to refuse this. Just easier to get another card. Max £20K Fluid MBNA. Just had £5k off Lloyds. Random number generator. There's no logic that I've spotted.

I agree. In the last year or so I have got £4.5k from Tesco and then £18k from Barclaycard. Total limits across 4 cards is £40k which is loaded with 25k at 0% stoozed against my offset mortgage so effectively earning me 3.9% net interest (nearly £1k per annum).
Total limits somewhat under my gross salary.

davidsuffolk

Interesting thread.

I have had a few cards though not all at the same time. At the moment I have a smile card which I kept but don't use much after they stopped cashback on it. Because of that, the limit then went from £8000 to £1600. My Cap 1 card had an £8000 limit too but I cancelled it when they also stopped cashback and opened a Santander 123 as my main card. For the 123 I got a £3900 limit which is just about OK as I do put nearly all spending on the card.

lexbubbles

Income: £15,200ish
Aqua: £1,850 (initially £250 and increased twice - they seem to up it every 3-4 months. Was increased by 1k and then by 600)

Capital One: £450 (initially £200 and increased after 4 months. Probably due another increase soon)

Vanquis: £250 (only had this a month so no increase)

Pimlico

I'm self employed & also have a Ltd Company which takes a lot of the extra profits. My wife & I are higher rate tax payers.

I have a Tesco CC which I've had for 15 years & I've never missed a payment, paid off in full every month. I use the card for business as well as private use, so spend up to my limit every month.

I have a limit of £11,100.

I was given this right at the beginning when my business wasn't making any profit, and so I couldn't afford to spend much because I didn't earn enough to pay it back. Now that the business is turning over so much more, and I am in a position to spend more the limit isn't enough. I've been applying for a limit increase for years now and they keep refusing, so I have to pay off the card every couple of weeks in order to keep using it. Or use a debit card instead.

planteria

lexbubbles wrote: »

Income: £15,200ish
Aqua: £1,850 (initially £250 and increased twice - they seem to up it every 3-4 months. Was increased by 1k and then by 600)

Capital One: £450 (initially £200 and increased after 4 months. Probably due another increase soon)

Vanquis: £250 (only had this a month so no increase)

fwiw i would look to move to something 'better' that pays cashback/rewards or gives you a deal of some kind. of those, the only card i would consider keeping is CapOne.. but now you are building credit worthiness (i assume, from the card choices) i would go for non-subprime.

planteria

Pimlico wrote: »

I'm self employed & also have a Ltd Company which takes a lot of the extra profits. My wife & I are higher rate tax payers.

I have a Tesco CC which I've had for 15 years & I've never missed a payment, paid off in full every month. I use the card for business as well as private use, so spend up to my limit every month.

I have a limit of £11,100.

I was given this right at the beginning when my business wasn't making any profit, and so I couldn't afford to spend much because I didn't earn enough to pay it back. Now that the business is turning over so much more, and I am in a position to spend more the limit isn't enough. I've been applying for a limit increase for years now and they keep refusing, so I have to pay off the card every couple of weeks in order to keep using it. Or use a debit card instead.

i've never known TescoBank give out a limit so high. but their inflexibility with limits is not unusual. after 15 years i'd be looking to use a card from an alternative provider.

Sharon87

I have a fair few credit cards so I don't have a really, really high limit on just one but my highest limits are:

MBNA: £6600 - recently increased from £3300!
Halifax: £4900
Barclaycard: £3700

I did have £4900 on my Tesco but I reduce it to 2k - soon after MBNA increased my limit - if that was a direct affect from that action I'm happy as MBNA offer good 0% deals but Tesco doesn't!

chuckley

planteria wrote: »

fwiw i would look to move to something 'better' that pays cashback/rewards or gives you a deal of some kind. of those, the only card i would consider keeping is CapOne.. but now you are building credit worthiness (i assume, from the card choices) i would go for non-subprime.

don't both cap1 and aqua do cash back cards?

and why keep cap1 over the other two?!