Old credit card high limit

Kr1llbo

Hello all,

I had a question about credit limits on cards. All the way back in about 2010/2011 I got 3 credit cards:
Barclaycard: £3,250
RBS: £500
RBS: £250.

At the time I was earning about £800 a month. I had a serious gambling problem and got myself into much debt. (Debt went crazy with payday loans and stuff but most of it is sorted now). My main question is regarding that Barclaycard. Does the credit limit they offered me seem excessive compared to my wage? I was living with parents, had some expenses (I believe I was paying a loan at £100 p/m, buying food, car insurance of £70 p/m, M.o.T / Insurance once per year, petrol costs about £60 a month. Also rent to parents of £200 a month.

At the time I applied for the card I didn't have any defaults or a CCJ, I had been into an unauthorized overdraft once which had ended up over £1,000, i'd been put on some sort of payment plan for this, in fact i may have been paying it back at £200 p/m at the same time i got the card.

To me the amount of credit i was offered seems excessive, please don't judge me for my younger self's actions....

Any help/information regarding this would be much appreciated.

[Deleted User]

No, the limit is very low, even for your income. Even more so with your minimal outgoings.

Remember also that it's only a limit. Your younger self didn't need to spend any of it unless he or she chose to.

eskbanker

A credit limit of £3,250 against an annual wage of nearly £10K doesn't seem excessive to me, there have been many stories on here of people who've had way higher ratios than that.

Perhaps I'm reading between non-existent lines but if you'd been thinking of trying to make a case that they lent irresponsibly then I don't think you'd have had much prospect of success, even if you were still within the time limits for complaining....

Kr1llbo

Thankyou to both of you this offers clarity.

Eskbanker: you were correct, I've had much success with payday loans, I'm trying to find the quickest route to sorting out my finances and basically getting myself into a position I was in many years ago.

Literally exploring all my options now i'm no longer gambling / irresponsibly managing my finances

Edit: meaning i'm now behaving in a much more responsible manner