Aqua Credit Card

Paul_01

How long did it take to get an increase from Tesco, and was it unsolicited?

Also, what did it rise from and to?

Stigy

Shakin_Steve wrote: »

Mine started at £300 and, on the fourth statement, they asked me if I would like an increase to £1400. I spent about £250 a month for the first four months and paid it off each month. If you hardly used it, maybe they wouldn't offer to up the limit?

The tend to offer an increase if you use it relatively close to its limit. I started with a Vanquis card with a 200GBP limit which was increased to 1000GBP after several months. I ve not been offered an increase since, from what i assume to be because I only spend about 60GBP per month on it, which equates to a pittance considering the limit.

Ive since got a Capital One card with an opening limit of 2000GBP, which goes to show these things really do work well if used sensibly. Sorry for using GBP.....pound sign doesn't work on my keyboard.

Andybez38

Stigy wrote: »

The tend to offer an increase if you use it relatively close to its limit. I started with a Vanquis card with a 200GBP limit which was increased to 1000GBP after several months. I ve not been offered an increase since, from what i assume to be because I only spend about 60GBP per month on it, which equates to a pittance considering the limit.

Ive since got a Capital One card with an opening limit of 2000GBP, which goes to show these things really do work well if used sensibly. Sorry for using GBP.....pound sign doesn't work on my keyboard.

In my experience with Aqua card. It doesn't matter what balance you run each month. I only use my card running up perhaps a £20-£100 balance. This is paid off in full each month. I started with a limit of 900 and now am on 4450. I had a capital one card and have found them slow with increasing credit limits. Again i started with a £900 limit which grew to £1500 after a year or more. I have since closed the capital one card.

Shakin_Steve

Funny things, credit cards. If I were a lender, I would prefer to lend to someone who had never used a credit card in their life. But, it seems, the more credit you have, the more you can get.
What do I know?:(

Paul_01

It's simply about managing risk. If you lend to 100 people without any track record, the risk is far greater than lending to 100 people who have shown an ability to manage credit effectively.

pcman1985

Let's say you had (no choice) to lend one of two people £1000 and you could see their credit history.

Person 1 has borrowed money 20 times and has always paid back in full and on time.

Person 2 has never borrowed any money so you don't know if you would get repaid.

Who would you have lent to?

Andybez38

pcman1985 wrote: »

Let's say you had (no choice) to lend one of two people £1000 and you could see their credit history.

Person 1 has borrowed money 20 times and has always paid back in full and on time.

Person 2 has never borrowed any money so you don't know if you would get repaid.

Who would you have lent to?

Lets look at another way. Perhaps you trust person 1 - they make you less in interest.
However Person 2 can make you lots more. Maybe higher risk but higher gains.
It's all about what they want as a customer.

Shakin_Steve

My way of looking at it would be: If you can obviously manage to get by on the money you earn (hence the repayments on time), why bother with credit at all?
We all have to go into debt for things like mortgages but, if we then just spend what we have left, and maybe even save some of it, why should we be carry a greater risk?
I know it's a moot point, Barclays are hardly likely to read my post and think 'We've been doing it wrong all these years'.:D

eset12345

Sncjw wrote: »

That's really high Apr to me.

the interest doesn't matter if it's getting paid off monthly.

You wouldn't be advocating holding ANY kind of balance on ANY interest bearing card would you? that's not very moneysaving.