You have got to be kidding me? £3000 credit limit!

funky1471

I just applied for a Virgin credit card to transfer about £700 onto it for the 0% for 15 months deal. I wasn't sure about getting accepted but I was instantly accepted online with a credit limit of £3k.

In the past when I have applied for credit cards the highest limit I got was £500 on a Barclaycard student credit card, and £300 from Halifax. Also when I applied online for these I had to wait in the post as it was not an instant decision.

I have been in employment longer now and I am earning more money, but I was still suprised. I don't intend to use any of this limit, as I only got it for:

A) The 0% transfer
I had my other cards incase of emergencies, but they were 19.9%, so I wanted a card with a lower rate just incase I do need it

Very suprised and pleased, but I think I will lower the credit limit substantially. If I do this will it be easy to get it raised again in the future just incase I need it? As long as I don't miss any payments etc, which I wont.

SarahNeedle1872

Its funny isn't it! OH has just been accepted for an Egg card (for cashback purposes on Quidco!) and they gave him a limit of £1250:eek: .... despite the fact that less than 6 years a go he owed them a load of money

I'll be keeping an eye on that one, but at least the APR isn't silly like his Vanquis was!

the_boy_with_no_name

i got refused a virgin card the other day, even though iv'e got a good credit history & a clydesdale bank card with a £1800 limit.funny things credit scores

oscar52

I would suggest that Virgin (MBNA) would appear to be approving any and all in order to meet monthly targets, but i wouldnt want to to tarnish the "good" name of my employer

hypno06

oscar52 wrote: »

I would suggest that Virgin (MBNA) would appear to be approving any and all in order to meet monthly targets, but i wouldnt want to to tarnish the "good" name of my employer

They still won't accept me!!

theunknownstuntman

i wouldn't worry, Mint just gave me £5000!!! handy though cause i'll transfer nearly my debt off tsb card for 13 months at 0%!!

itsarichmansworld

I got a £2500 limit from MBNA too used it to balance transfer on 0% thanks mbna! Gives me a better chance of fixing my credit rating too!

Oscar is this true there trying to hit targets????

GeorgeUK

funky

It may depend on how the finance market is performaing at the time. Some banks are tightening their belts right now and cutting back the amount of available credit. I would just leave it and make sure i set my own limit on the spending.

Gemmzie

Ooo I wonder if it's worth applying for a Virgin card for mum then...

High_Peak_Lass

Have just applied on the off-chance. O/L on Tesco CC. (£2041)
Mint just gave me 0% till Jan 2009 on £2250!

Thanks to all esp theunknownstuntman for the Mint info.

Can pay off this in 12 months now, but will have to cut up new CC as soon as it arrives to avoid exactly what I did last time.

oscar52

itsarichmansworld wrote: »

I got a £2500 limit from MBNA too used it to balance transfer on 0% thanks mbna! Gives me a better chance of fixing my credit rating too!

Oscar is this true there trying to hit targets????

it has been done before - when i applied (and was temping at time there at time) i was told my application was recomended for decline - i got 3K limit. i know they wouldnt approve people with completely shot credit history, but have approved those that are struggling - then again, they just been hit badly with the credit crunch (which i expect will get worse before it gets better)