Does baying CC balance improve loan success chances with same creditor

Pegasus_1981

Hi,

Quick question but does paying off a large credit card balance improve your chances of being approved for a loan with the same bank as the bank issuing the credit card.

I had a 4.8k balance on my credit card which I am a couple of months away from clearing, I've called Barclays about increasing my limit once I have cleared the balance to zero which they have approved.

What i'm asking is if i decline this and opt for a loan instead does my credit card management get taken into consideration given its internal same business money?

[Deleted User]

Almost certainly. They will consider affordability and risk across all products held with them (as well as those on your credit files).

Pegasus_1981

See this is what i find confusing in that elsewhere my credit file was poor and I had some defaults, Barclays then increased my limit from 1.6k to 4.8k, i hadn't even settled the defaults at this point... lol...

would it be safe to assume that they place more value in how I trade with them than external companies because they have a longer history of well managed finance?

Pegasus_1981

My plan has worked, called Barclays today after reading a few other Barclays related threads in this forum and they agreed to upgrade my card to the cashback card, so I now get 1% on all American express purchases and 0.5% on purchases if I use the visa card.

I called back no more than an hour later to see if I could increase my limit and within 60 seconds my increase was approved from 4.8k to 7k.

Once my promotion rate of 6.9% finishes I will be able to renew this to make the car purchase, few dealers I have called only charge 1.5% as a fee, knowing this in advance I will hard ball on price but my plan has worked or so it would seem!