Default on CR but Barclaycard Increase Limit?

THE_ROCK84

Hi have a default on my credit file, (currently being sort out) but 3 months ago, barclaycard up my limit from £400 to £700, (when i changed from a student card to a classic card)

Does that mean that they dont use credit scoring with assessing limit increases?? Only payment history and account conduct i.e staying in the limit??

Thanks.

Cardinal-Red

I think you're just about right there - they sometimes make more detailed enquiries of you (e.g. I once had a 20 minute phone call with Egg while they quizzed me) but they don't normally do credit searches...

Wig

upping your credit limit (in my experience and presumption) is based on how good you have been as a customer with that particular card account. If you don't want the increase just tell them to take it off.

THE_ROCK84

Wig wrote:

upping your credit limit (in my experience and presumption) is based on how good you have been as a customer with that particular card account. If you don't want the increase just tell them to take it off.

Quite the opposite, i want a higher limit. Ive been paying £680 every month for 3 months (my credit limit is £700) so im looking for a substantial increase, what do you think? is it possible??

Wig

Ask them, the worst that will happen is they will say no. I wouldn't think that 3 months is long enough to be used as a record of good performance.

ti1980

I have a default on my record which unfortunately I can't get removed cos it was all my own fault but I have a Barclaycard which was originally given a £1200 limit.

After 6 months, they increased it to £2000 and I asked them if they would increase it to £2500 but I could have got it increased a bit more if I wanted as I had conducted the account well.

Thats what they look for most of all, good account conduct. If you wanted it increased by a substantial limit they may credit check you then to see that you are not overstretching yourself.

THE_ROCK84

Wig wrote:

Ask them, the worst that will happen is they will say no. I wouldn't think that 3 months is long enough to be used as a record of good performance.

Ive had the account open since 2002, it been is good conduct (no missed payments for about 1.5 years and last overlimit was at since Dec 2004!! So in April 2005 they give me a £400 to £700 increase, and ive been good ever since.

ti1980 wrote:

I have a default on my record which unfortunately I can't get removed cos it was all my own fault but I have a Barclaycard which was originally given a £1200 limit.

After 6 months, they increased it to £2000 and I asked them if they would increase it to £2500 but I could have got it increased a bit more if I wanted as I had conducted the account well.

Thats what they look for most of all, good account conduct. If you wanted it increased by a substantial limit they may credit check you then to see that you are not overstretching yourself.

ti1980, did you pay full every month, or the mininum amount? Would be really useful information!! :beer:

ti1980

I didn't pay in full every month but I did pay more than the minimum on some months when I could. The first few months though was a bit tight so I only paid the minimum.
I have not paid in full at any time since I have had the card.

Hope this helps.

THE_ROCK84

Did you max your card out?

ti1980

I had maxed that particular card out on two occasions so yes.
If you ask them, the worst they can say is no right?
I asked for a small increase above what they had offered me, they agreed to it but I think I could have gone higher cos I only asked for a £500 increase on top of the increase they had already given me.

empfun

Have they got an online facility for requesting limit increases? I've looked but couldn't find one.