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What credit card traditionally gives the highest credit limit?
MattyNeth
Posts: 182 Forumite
in Credit cards
From personal experience Egg card gave me £7k, Nationwide £4k, Ulster Bank 3k, Goldfish 5k.
Who gave you the best credit limit?
Who gave you the best credit limit?
0
Comments
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You might find this poll a useful guide. By and large, I would say that cards operated by MBNA offer the highest limits if you have a decent credit rating.
ClarimanAuthor of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk0 -
Certainly MBNA have been most generous to me. Most of my cards have been between 7 and 10. MBNA gave me a limit in excess of 16k. When I closed it and opened a Virgin account they said I could have my MBNA credit limit back - at 0% for 15 months transfered straight to my bank account. How do these guys ever turn a profit?0
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Simple
1. People who don't know what they are doing do the balance transfers then spend large amounts on the card. Say you spend £1000 at 16.9% and it is trapped for 16 months and you can't repay, they have made a couple of hundred quid in interest. Only takes a few to cover the odd stoozer, there are more like than there are stoozers.
2. People forget/don't bother paying off/transferring the full balance by the end of the offer and pay a massive interest rate instead of a competitive one.
If the things above did not make the 0% deals profitable they would not be there, simple as that.If you don't like what I say slap me around with a large trout and PM me to tell me why.
If you do like it please hit the thanks button.0 -
MBNA very generous to me £2k with a less than perfect credit rating 0% balance transfer
Never thought I'd see the day I got 0%!Isn't the knowledge that comes from experience more valuable than the knowledge that doesn't?0
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