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vanquis credit limit increase
creditnewbie87
Posts: 7 Forumite
in Credit cards
Apologies if I'm in the wrong place but I'm looking for advice.
Applied for my first credit card with Vanquis in October 2018 with £250 limit. Been using to pay bills just to build up my credit rating (nothing to do with score) and got an increase end of January to £500.
Here's where I get lost...I accidentally used the wrong card (contactless) earlier this month and went over the limit by 2p! Paid it immediately via internet banking but it was a sunday so it wasn't processed until the Monday. Statement was generated on 18th and has absolutely no mention of going over the limit, no charges etc.
Question is with this in mind would that scupper my chances of a credit limit increase? Not desperate for one just want to know if anyone else has been in this situation.
Thanks in advance:D
Applied for my first credit card with Vanquis in October 2018 with £250 limit. Been using to pay bills just to build up my credit rating (nothing to do with score) and got an increase end of January to £500.
Here's where I get lost...I accidentally used the wrong card (contactless) earlier this month and went over the limit by 2p! Paid it immediately via internet banking but it was a sunday so it wasn't processed until the Monday. Statement was generated on 18th and has absolutely no mention of going over the limit, no charges etc.
Question is with this in mind would that scupper my chances of a credit limit increase? Not desperate for one just want to know if anyone else has been in this situation.
Thanks in advance:D
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Comments
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They increase your credit based on responsible borrowing so overall your record seems ok so they might overlook this but I would suggest speaking to them and ensuring they aren't going to whack any charges on next statement
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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In all probability if you paid immediately while the transaction was still pending you never actually exceeded your credit limit as the payment was credited to the account before the pending transaction was finalised.
But treat this as a warning and try to avoid being so close to your credit limit in future.0
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