0% credit cards

robin61
robin61 Posts: 677 Forumite
edited 31 August 2017 at 12:45PM in Credit cards
I've noticed that the illustration given on the longest 0% credit cards (spending not balance transfers) credit limit is around £1200.
I understand that the credit limit is always subject to status but £1200 isn't worth me bothering with for the purpose I had in mind.
Do any of you guys have any idea whatsoever what a realistic credit limit would be likely on one of these cards for someone with a good credit rating, own home and an above average salary could be ?

Thanks.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242
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    £1200 is a regulatory illustration. It has no bearing on the actual limit you'll get.

    Someone starting out may get a couple of hundred. Better risks will get around the 10-15k mark easily.
  • SuperHan
    SuperHan Posts: 2,269
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    I have £16k on one card. On another they won't consider giving me more than £5k.


    I'm relatively well paid, homeowner, good credit.
  • HogMan
    HogMan Posts: 191
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    Last year I applied for 2 0% cards within two weeks.


    The first came with a low limit the second a much higher one. It all depends on the individual lender
  • robin61
    robin61 Posts: 677 Forumite
    Thanks guys. I guess the only way I will find out is to apply. If it's not worthwhile I guess I can always tell them I don't want it.
    Is applying for credit cards and then not going ahead likely to impact my credit rating much ?
  • HogMan
    HogMan Posts: 191
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    When you apply a hard search will be recorded whether you go ahead or not.
    Too many hard searches in a short period will impact your credit history.
  • bigadaj
    bigadaj Posts: 11,531
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    robin61 wrote: »
    Thanks guys. I guess the only way I will find out is to apply. If it's not worthwhile I guess I can always tell them I don't want it.
    Is applying for credit cards and then not going ahead likely to impact my credit rating much ?

    Number of searches might have an adverse impact, one and probably two in isolation will above little to no impact.
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