Credit Limit on New Halifax Card

downtown_273

Hi,

I'm going to apply for a Halifax Credit Card (0% purchases 24 months).

I already have the Halifax Clarity Card (Credit Limit: £8,100 - have had it for 6 years and never used anywhere near it, my maximum spend per month is £1,500 and the balance is always fully cleared by direct debit).

I want a high credit limit on the new card as I have just bought a house and lots of purchases need to go onto it (we are talking around £7k).

When I apply, will they ask me what credit limit I want? If so, I'm afraid £7k will be too much to ask so my chances of getting the card might be better if I only ask for £3k or so? Then I can transfer my credit limit from my Clarity card to the new one. Is this understanding correct?

Does anyone have experience transferring credit limit from one halifax card to another? How does it work?

Thanks!

sammyjammy

If you have 8K available on a card why apply for another one if you want ot spend 7K? It doesn't matter what you ask for they will give you what they deem suitable so asking for a lower limit won't increase your likelihood of getting accepted in my opinion.

BlondBoy

Do you still need the Clarity? If not, you can swap it for another Halifax card. Still requires a credit check, but if your file's good and your history with Halifax is strong, chances are they'd give you a similar or better limit. (Although sorry - haven't got direct experience of that)

downtown_273

sammyjammy wrote: »

If you have 8K available on a card why apply for another one if you want ot spend 7K? It doesn't matter what you ask for they will give you what they deem suitable so asking for a lower limit won't increase your likelihood of getting accepted in my opinion.

Because the clarity has an interest rate whereas the new card would have 0% over 24 months

OK, thanks - I thought that if I asked for £7k it would be either £7k or nothing.

Do they come back to the applicant with a lower credit limit offer if they consider it too high, or do they reject the application?

PeacefulWaters

I applied for a second Halifax card and got a £100 limit.

I then rang them and they immediately agreed to switch part of my limit on the old card over to the new card. It took a few days to show online.

Good service. Suited me.

downtown_273

PeacefulWaters wrote: »

I applied for a second Halifax card and got a £100 limit.

I then rang them and they immediately agreed to switch part of my limit on the old card over to the new card. It took a few days to show online.

Good service. Suited me.

Thanks PeacefulWaters!

Out of curiosity, what is the actual credit limit that you requested during your application process?

SLZ

downtown_273 wrote: »

Because the clarity has an interest rate whereas the new card would have 0% over 24 months

Yes but if you pay off £1.5k a month (or more) the interest will be minimal. You can always call up Halifax and see if they'll give you an offer for a new card as a simple transfer, I know Barclaycard and MBNA do such a thing (through credit limit splits) so Halifax may too?

PeacefulWaters

downtown_273 wrote: »

Thanks PeacefulWaters!

Out of curiosity, what is the actual credit limit that you requested during your application process?

I don't recall asking for a limit. I'd probably have put £5k in if I did.

£15k was my limit on the existing card.

downtown_273

Thank you all for your help.

I have made the application, which doesn't actually ask you for your desired credit limit. They gave me £1,300 so I will transfer the limit I need from my other Halifax card to the new one.

Thanks!