Raising Credit Limit on new card

RealGandy

Hi

I need to shift some debt across to a new balance transfer 0%. The debt is currently sitting on a couple of cards coming to the end of their 0% period and I applied and got accepted for the Halifax 0% 40 month, although the "expected" credit limit was only £1500. Given my credit scores on both Experian and Equifax are way up in the excellent region, I was surprised by this, especially as the previous cards gave me £10,000 and £6,000 & my income is above £70k.

The application was done today, and the card has partially registered on the online banking site, but with no credit limit yet.


So, my questions are...

1. Has anyone got a decent credit limit on this card (I'm looking to move about £12k onto one or more cards)?
2. If you applied for this card did the credit limit you actually got reflect the limit the application process 'suggested' you would get?
3. Anyone have any experience of ringing them to get a limit raised straight off the bat like this? Especially as I'm looking to move so much debt about, not sure asking for almost ten times what they've first offered would be wise!

The debt is currently on a pair of Virgin Money cards (one in my name, one in the wife's) so I'll need to find a couple of others to use if the Halifax doesn't let me raise the credit limit.

Thanks for reading.
G

mcmaze

It is very unlikely for a new credit card to increase your limit during your first month, in fact you will have a better chance getting a second balance transfer card. Try mbna and barclaycard, they both have their eligibilty checkers, and they are known to be pretty generous with their limits.

giblet10

I recently asked coop to reconsider my limit as they only opened my account with a £2k limit - not enough to do my balance transfer. They said they would consider the £7k limit I requested if I sent them recent bank statements. I did send them in and they did then give me a £7k limit.

Doctor_Duke

Halifax won't normally consider credit increases on new cards until 6 months. This is the same policy for the Lloyds Banking Group. You might be best to do some quotations that don't affect your credit file for a new 0% card. As others have said MBNA are one of the best for this and normally have higher starting credit limits.

darkidoe

Doctor_Duke wrote: »

Halifax won't normally consider credit increases on new cards until 6 months. This is the same policy for the Lloyds Banking Group. You might be best to do some quotations that don't affect your credit file for a new 0% card. As others have said MBNA are one of the best for this and normally have higher starting credit limits.

Anyone has any experience with asking for credit limit increases from Halifax after only 6 months of spending with full repayment every month? I am in that position but am thinking of leaving it for another 2 months before trying to boost my chances. Is calling up or trying it online any different? I know sometimes the online system may not be the best decision maker i terms of credit decisions and having a customer service advisior might be more useful.