Credit raises

CreditCardChris · 26 September 2018 at 11:19PM

Do credit cards issue increases based on your payment history AND the amount of your limit you use or just on your payment history?

I have an Amazon Platinum card with a £500 limit and ideally I'd prefer at least £1,500 so I can use it for larger purchases every so often. The problem is I only really use about £150 of that £500 limit each month so they're most likely going to think I don't need a credit limit increase because I'm not using anywhere near close to the £500 limit.

I've only had the card for 2 months but I just wanted to ask anyway, will they still offer me a credit increase even though my current spending on it is low so long as I keep paying my statement in full each month?

Thanks.

Krash420 · 26 September 2018 at 11:32PM

Your current spending shouldnt matter. I barely spend much on my AmEx, yet they've again increased my limit for me to something I cant ever imagine using (but is always good to have in a pinch).

For Amazon they always start at low. After 6 months of having the card (and every 6 months after that) you can phone them up to increase your credit limit.

It will depend on your credit rating, so as long as you have good credit history they shouldn't mind increasing your credit limit. Just wait till youre 6 months in before trying for best success.

NewToTheUkAgain · 27 September 2018 at 7:50AM

My partners amazon card also had a £500 limit, they would not increase after 8 months so it was closed.

However during this period they were raising her opus to silly amounts so maybe this had an impact.

Nebulous2 · 27 September 2018 at 7:52AM

I haven't had a lot of credit limit increases for years, but where I have it has had no link to my usage. I've had an increase on a Barclaycard which is rarely used. What I have found is I often get increases if I pay down a big chunk. I'll get a long 0% card, put a large balance on it with minimum payments, and then at some point I'll pay about half of the balance off. They'll very quickly increase my limit and give me some new offers.

It's going to be nearly impossible to second-guess them though. Their algorithms are complex and what they do for other people is unlikely to bear much relation to your situation.

[Deleted User] · 27 September 2018 at 7:59AM

Amazons offering is by a sub-prime lender so don’t expect large limits or regular increases

stehouk · 27 September 2018 at 9:06AM

Iv'e got the aqua card and my limit has increased by £800 every 3 mths, and i still only spend max £300 per mth and then put it away and get another one out, i pay off in full every month, i do the same with my 4 cards but not had any increases on the others, they all seem to operate differently, it is nice to have them as a back up in emergencies and the aqua is great for spending on holiday.

Round_The_Bend · 27 September 2018 at 9:19AM

!!! wrote: »

Amazons offering is by a sub-prime lender so don’t expect large limits or regular increases

Just to add that this isn't always the case. I have the Amazon card and was given a £10,000 limit from the off. I have no idea how they decide though.

[Deleted User] · 27 September 2018 at 11:57AM

Round_The_Bend wrote: »

Just to add that this isn't always the case. I have the Amazon card and was given a £10,000 limit from the off. I have no idea how they decide though.

I find that hard to believe

Nasqueron · 27 September 2018 at 12:21PM

Credit limits will always be balanced with how much credit you have available and earnings. If you have say an income of £20,000 and the opus card goes to £10,000 then the Amazon one might be limited to a certain amount to avoid exposure.