I wanna increase my credit card limit

MisterBaxter

When I've applied for cards I have been asked for details of both income and major outgoings which presumably does mean that they are taking things such as my mortgage into account when doing affordability checks. If I didn't have a mortgage my outgoings would obviously be less meaning a higher disposable income.

I can understand why they wouldn't take the value of your property into account as credit cards aren't secured so it isn't like they can easily use your house if you don't keep up your card payments.

As we know the problem with savings is that they aren't captured on a credit report so how would a lender know what you are saying is true. If savings were taken into account I would have thought that lenders would only want to take a risk where savings were readily accessible.

Terry_Towelling

So it seems you don't have a particular watch in mind and you haven't spoken with the sellers/retailers about payment options - they usually offer telephone consultations and chat functions (in my experience). Exactly how far into this quest of yours have you looked and how far short are you with your current credit limit?

What some people on this site do (and with some success despite it being contrary to most card T&Cs) is they 'load up' their credit card by paying off way more than they owe to give themselves a large credit balance. This has the effect of increasing their credit limit by the amount of the overpayment.

So, if your watch costs £25K and your current credit limit is £20K, simply overpay your card balance by £5K to get yourself £30K spending power.

I don't recommend this and this is not advice - this is simply what some people do.

[Deleted User]

Just pay a deposit by credit card and the rest cash - you are covered under S75 even if the deposit is £1, as long as the item is over £100.

Terry_Towelling

camelot1971 wrote: »

Just pay a deposit by credit card and the rest cash - you are covered under S75 even if the deposit is £1, as long as the item is over £100.

...and less than £30K. Already covered in post #6.

Chino

camelot1971 wrote: »

Just pay a deposit by credit card and the rest cash - you are covered under S75 even if the deposit is [STRIKE]£[/STRIKE]1p, as long as the item is over £100.

There, fixed that for you (and as amended by Terry Towelling's post # 15).

sassy_one

Summer holidays, they get too long off!

1974Stephen

An out and out TROLL post.

jelockwood

Thanks everyone for your comments.

I did ring them to ask for an increase and got the level I was asking for rejected. They clearly can only punch my details in to a computer and accept its results making the human in the loop a waste of time. I did ask about over paying to end up with a positive balance and therefore in theory more available to spend and was told their systems prevented this so as to prevent money laundering. (The over payment would be blocked and returned to your bank account.)

So so far the best option is to make a deposit payment to gain S75 protection.

I even looked at Clear Scores' tips and it turns out I was already doing everything they listed.

Note: even garages in London cost a fortune so the value of my house does not mean it is a mansion - far from it.

PS. I did notice my credit report did not list my phone/broadband provider nor my energy provider. Both are smaller cheaper providers as I am careful with my money. Ironically I suspect if I was with the bigger more expensive names e.g. BT and British Gas they might show up and then the fact I was not in debt to them would 'boost' my score despite the fact I was 'wasting' money.

sassy_one

Troll alert.

COIAHLGW

So, I wonder why the OP has not taken previous advice yet, knowing that his purchase would be covered even with a small deposit on an existing credit card, and paying the rest from (substantial) savings?