The Nationwide Credit Card - Unfortunate But Close!

A4445

T-G-C wrote: »

I am around the same monthly income as you, but with a small difference between us, that I have over 80% total credit utilization but remember mine are subprime level limits and so are easier to max out than a £9000 mainstream card :rotfl:

If I had one card with a massive limit, I'd have no use for more than one, rather than having multiple, making it look worse to lenders.

Have you tried creation cards? I’ve always found them good, they do Main Stream cards and they have a credit builder card Asda Start.

boo_star

A4445 wrote: »

My amex card is a credit card not a charge card. I do have a massive amount of available credit so it could be putting them off. Who knows plus i don!!!8217;t use it much so they probably see no profit in increasing it.

Fair enough.

Really the reason why I posted was just to point out that they're not routinely miserly, in case anyone is thinking of avoiding them because they won't get decent increases.

T-G-C

A4445 wrote: »

Have you tried creation cards? I!!!8217;ve always found them good, they do Main Stream cards and they have a credit builder card Asda Start.

Just filled out some soft checkers with them, all declined. I admire their up-front honesty, not much can be said for some.

Nebulous2

I applied for a Nationwide cc at the same time as my son. We got different limits, but both got a 15% increase after 6 months. I've had two further increases since.

boo_star

T-G-C wrote: »

If I had one card with a massive limit, I'd have no use for more than one, rather than having multiple, making it look worse to lenders.

I wouldn't say that. Having a Mastercard as well as a Visa card was pretty helpful last month.

T-G-C

boo_star wrote: »

I wouldn't say that. Having a Mastercard as well as a Visa card was pretty helpful last month.

In an ideal world, I'd be much comfortable with one Mastercard with a limit of £5000 and one VISA with a limit of £5000. That leaves £10,000 free credit available to spend, if and when needed.

That would be a buffer for future large or emergency purchases, I wouldn't need to worry about getting any more cards after that, unless I was eligible for a long-term 0% offer and then close it after expiration.

Unfortunately I've ended up with multiple cards, taking the dribs and drabs that subprime lenders will throw at me. Once my credit utilization is back down to under 20% and 6 months has passed to allow the burn of maxing out to cool down, I should start noticing some real improvement on the offers I am eligible for.

A4445

T-G-C wrote: »

Just filled out some soft checkers with them, all declined. I admire their up-front honesty, not much can be said for some.

Even ASDA Start?

boo_star

T-G-C wrote: »

In an ideal world, I'd be much comfortable with one Mastercard with a limit of £5000 and one VISA with a limit of £5000. That leaves £10,000 free credit available to spend, if and when needed.

That would be a buffer for future large or emergency purchases, I wouldn't need to worry about getting any more cards after that, unless I was eligible for a long-term 0% offer and then close it after expiration.

Unfortunately I've ended up with multiple cards, taking the dribs and drabs that subprime lenders will throw at me. Once my credit utilization is back down to under 20% and 6 months has passed to allow the burn of maxing out to cool down, I should start noticing some real improvement on the offers I am eligible for.

It's certainly obtainable but I suspect your age is going to work against you for a few more years to come. You'll always only have a credit history to your 18th birthday until you hit 24.

I wouldn't get too upset though, Barclays wouldn't give me a Delta (debit) card when I was 21 (way back when) even though I had around £1000 a month going into the account.

T-G-C

A4445 wrote: »

Even ASDA Start?

Including ASDA Start. I did soft check their low-interest card first though, therefore the initial decline might affect all checks with other cards, which some companies do to prevent hopping.

T-G-C

boo_star wrote: »

It's certainly obtainable but I suspect your age is going to work against you for a few more years to come. You'll always only have a credit history to your 18th birthday until you hit 24.

I wouldn't get too upset though, Barclays wouldn't give me a Delta (debit) card when I was 21 (way back when) even though I had around £1000 a month going into the account.

Yes, it is easy to forget that I only have like 11 months history on my file, some people here have 6 years of solid credit, so lenders have a minefield to contribute to approval likelihood.

I've obtained a lot of credit in the last year since turning 18 and of course, I've made some pretty stupid mistakes (like getting 12 month high-cost loans and maxing out all subprime cards) but I would rather learn these lessons now rather than later in life, as recovering from it at 24 is much harsher than at 18, as your 20's are when you start looking for mortgages etc. that being said, among all the credit I have or have had, I've never once missed a payment or defaulted, so I am pretty pleased with myself compared to how irresponsible some people my age can be with responsibility like repayment commitments.