Credit limits

caveman38

At what stage during the application for a CC do you know whether you have been acceped and more importantly what credit limit you have been awarded.
I just read a post where the guy was disappointed with his credit limit and then felt obliged to keep the card regardless.
I have never had CC's before and as I am new to this game and considering "stoozing" would like to know early in the application process what limit I have been awarded. If too low then try another bank /BS.
Is it possible to know before the acceptance forms fall on your door-mat?

poppy_f1

always been sent my credit limit when i have recieved the card through the post

sicker

As above, you il not know your credit limit until you receive your card.

Moomum

MInt gave me my credit limit online as soon as I had applied.

exel1966

If you've been accepted you can usually obtain your credit limit by calling the new applications dept prior to receiving your card or credit agreement to sign.
At this point it is also possible to negotiate small limit increases with some companies if you are not satisfied with what has been allocated, though only minor adjustments can be made at this time.
You'll usually have to write to the company outlining your reasons if you're looking for a more substantial increase.

EDIT following YB's examples : I was recently allocated £8K with Capital One and managed to increase that to £9K with the new applications rep over the phone prior to receiving the card and that was without any haggling / in depth argument for it. It just took a simple request.

YorkshireBoy

exel1966 wrote: »

At this point it is also possible to negotiate small limit increases with some companies if you are not satisfied with what has been allocated, though only minor adjustments can be made at this time.

eg, M&S seem to be able to give an extra £1K 'flat', whereas the RBS group seem to allow a 20% increase (but then again they seem to give poor limits anyway, for example almost everyone gets £3K with Ulster, which can then be raised to £3.6K without another search).

You'll usually have to write to the company outlining your reasons if you're looking for a more substantial increase.

...or undergo a telephone [strike]interview[/strike] interrogation with an underwriter, as is the case with Egg. Sometimes this is worthwhile...one cardholder on the stoozing site recently trebled his initial limit from £5K to £15K on a new Egg Card.

caveman38

Off topic a bit

...or undergo a telephone interview interrogation with an underwriter, as is the case with Egg. Sometimes this is worthwhile...one cardholder on the stoozing site recently trebled his initial limit from £5K to £15K on a new Egg Card.

How would he have used that limit if you cannot transfer between Egg cards. What would he have used as the "mule". Assuming that was his intention.