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pupgrum
pupgrum Posts: 130 Forumite
edited 5 June 2016 at 9:19PM in Credit cards
Do you think it's possible to ask for a credit limit increase or a 0% promotion offer on the 7.4% APR card I just got? As is, I would be using 95% of the credit limit to purchase one product, and it'll take 1-2 years to pay off. I rather not apply for another card just for the 0% promotion. I checked with my bank and they're offering 16% APR and giving me 12 months to repay it. I rather give myself more time than 12 months.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It's absolutely possible to ask, but very unlikely to be granted on a new account.
  • MABLE
    MABLE Posts: 4,241 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    pupgrum wrote: »
    Do you think it's possible to ask for a credit limit increase or a 0% promotion offer on the 7.4% APR card I just got? As is, I would be using 95% of the credit limit to purchase one product, and it'll take 1-2 years to pay off. I rather not apply for another card just for the 0% promotion. I checked with my bank and they're offering 16% APR and giving me 12 months to repay it. I rather give myself more time than 12 months.

    They will not consider any increase until after 6 months.
  • pupgrum
    pupgrum Posts: 130 Forumite
    MABLE wrote: »
    They will not consider any increase until after 6 months.

    I managed to get a 15% increase in my credit limit. Haven't even received my first month's statement yet. I think it depends on how much an increase I'm asking, and I did explain it's for a one-off product purchase.
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