Pay Credit Cards Early?

loalife222

1. To increase overall availability
2. Lower overall utilisation
3. Show other potential lenders that I am trustworthy
4. Add more positive history to my CRA records

[Deleted User]

This bloke seems to give good advice -

Deleted_User wrote: »

You could ask for an increase, but generally they're given, rather than requested.

Apply for another card now. If declined, leave it for a month or two.

Maybe try that.

loalife222

Haha, he does seem to..��

Bearing in mind I already have Virgin & MBNA cards, do you have a recommendation for a third?

I know there are a multitude of options, just wondering if you have any personal thoughts on the matter?

Looked at cashback cards, but they didn't seem to be much cop tbh. And think I decided against Amex as it's too restrictive. But if I'm only really applying for one to increase my overall availability, perhaps that's not so important anymore? ��

[Deleted User]

At the moment, anything, but avoid sub prime cards as they won't give you the capacity for larger limits.

loalife222

What is a sub prime card?

[Deleted User]

Aqua, Vanquis, some variants of Barclaycard or Cap One.

They're aimed at high risk customers, so have tightly managed limits.

loalife222

Deleted_User wrote: »

Aqua, Vanquis, some variants of Barclaycard or Cap One.

They're aimed at high risk customers, so have tightly managed limits.

Right ok. So anything classed as a 'card for poor credit'. What about 'credit builder' cards?

Any other 'labels' that are classed as sub prime?

[Deleted User]

Use an eligibility checker: https://www.moneysavingexpert.com/eligibility/credit-cards/

loalife222

Ok I'll have a look. Thanks. Any way of estimating who will give me the highest limit?

[Deleted User]

loalife222 wrote: »

Ok I'll have a look. Thanks. Any way of estimating who will give me the highest limit?

No not until you apply and are accepted.

MBNA seem to be the most generous but you have a card with them already.

And as already stated, with your current low limits expect something around the same again or lower.