We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Credit limit
ispookie666
Posts: 1,194 Forumite
in Credit cards
I'm in the market for a 0% credit card for a specific purchase of £3800. Its been a good few years since I have had any new credit cards.
How do these banks/companies decide the credit limit? As getting a card with credit limit of £1200 is of no use to me.
PS: My credit limits are 6.5K in Amex, 6K in santander and 7.5K in Halifax - but monthly routine use comes to a max of 3K, which is paid off in full. Only unsecured loan(Sainsbury) 8.5K @3.5% £305pm
Total household income in 110K.
How do these banks/companies decide the credit limit? As getting a card with credit limit of £1200 is of no use to me.
PS: My credit limits are 6.5K in Amex, 6K in santander and 7.5K in Halifax - but monthly routine use comes to a max of 3K, which is paid off in full. Only unsecured loan(Sainsbury) 8.5K @3.5% £305pm
Total household income in 110K.
“Don't raise your voice, improve your argument." - Desmond Tutu
System 1 - 14 x 250W SunModule SW + Enphase ME215 microinverters (July 2015)
System 2 - 9.2 KWp + Enphase IQ7+ and IQ8AC (Feb 22 & Sep 24) + Givenergy AC Coupled inverter + 2 * 8.2KWh Battery (May 2022) + Mitsubishi 7.1 KW and 2* Daikin 2.5 KW A2A Heat Pump
System 1 - 14 x 250W SunModule SW + Enphase ME215 microinverters (July 2015)
System 2 - 9.2 KWp + Enphase IQ7+ and IQ8AC (Feb 22 & Sep 24) + Givenergy AC Coupled inverter + 2 * 8.2KWh Battery (May 2022) + Mitsubishi 7.1 KW and 2* Daikin 2.5 KW A2A Heat Pump
0
Comments
-
They don't necessarily give £1200 credit limits. They quote APRs and fees based on a £1200 credit limit, as a standard. What they give you depends on their assessment of your credit-worthiness.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards