Credit Card improve Credit Score or Bank Strategy

Ebe_Scrooge

onthefencepost wrote: »

i've read (not verified with all this internet chatter) that having no balance on there deters lenders from you as they wont make money.

True, they won't make any money from you. But don't forget, their main income stream is from the charge they impose on the retailer for every transaction you make. So if you make lots of transactions they are making plenty of money - albeit indirectly - from having you as a customer.

[Deleted User]

Just wait for the statement, then clear in full. That's all you need for your credit history.

onthefencepost

Thanks for the info guys much appreciated.

Can i ask - if this is worth doing on my argos card and catalog again both have small balances.

Also the argos card has not given me a credit limit increase but my credit card and catalog have - anyone know at what month they review the account?

Thanks

Tinaroo

My experian credit score is 605, which is classed as 'poor'. I received an American Express Platinum Cashback card last week....credit scores mean nothing.

A4445

onthefencepost wrote: »

Thanks for the info guys much appreciated.

Can i ask - if this is worth doing on my argos card and catalog again both have small balances.

Also the argos card has not given me a credit limit increase but my credit card and catalog have - anyone know at what month they review the account?

Thanks

Is it the Argos store card you have or is the Argos credit card?

Who provides the catalog?

onthefencepost

catalog JD Williams - you can apply online and get instant approval
Argos store card - again apply online and get instant approval

I'm going to pay the above too off in full ive got tiny balances on them - i just bought some items which i needed on credit to boost my credit history. Think its worked as i'm getting credit increases etc. I'll wait for about a year and try and apply for a mainstream credit card.

A4445

onthefencepost wrote: »

catalog JD Williams - you can apply online and get instant approval
Argos store card - again apply online and get instant approval

I'm going to pay the above too off in full ive got tiny balances on them - i just bought some items which i needed on credit to boost my credit history. Think its worked as i'm getting credit increases etc. I'll wait for about a year and try and apply for a mainstream credit card.

I have a JD Williams account they seem to increase the credit limit every month.

I had an Argos store card a number of years ago, I remember having to call them to increase credit limit. I expect you would need to have the account 6m before they increase. You could call and ask them no harm doing that.

adindas

I have Santander Zero Creditcard (not Debitcard) that I already have for for about 8 years by now. The limit was £500 which is very unfortunate as this card has exactly the same function with Halifax claritycard to be used for foreign currency withdrawal abroad. Also it is a Mastercard, not Visa which is not easy to get nowadays.

I have been trying to request for limit increase through their Phone banking CS but she just did not want to listen. I already explained to her that
- I have been having it for about 8 years by now and never have a misspayment
- I have about 20k in my 123 account.
- I have been banking with Santander since ten years ago
- I had another creditcard with limit of about 15k

Still does not work. She did not want to direct me to her manager either. It seems to me like a policy from Santander ??

Has anyone succesfuly got a limit increase with their Santander Zero creditcard ? If so how do you do that ?

Any comment and suggestion will be very much appreciated. Thanks

bigadaj

The zero card has been shut for new business for several years now so no incentive to increase your limit.

Also they'd be losing money on you so no incentive to increase limits and so lose more money, you're not just profitable as a customer.