Barcleycard credit limit

Jonessm1

Hi
Taking advantage of my current good credit score I applied for a barcleycard with the intention of paying off my next account. As I couldn't log the details for a direct balance transfer, taking advice from here, I applied for a routine cars witg the intention of paying off next manually witg the new card and utilising interest free. 
My application was successful but I have only been awarded a limit of £200. This barely covers my monthly next bill so I will not be able to clear that debt. 
So now I have a useless card and a lower credit score. Has anyone else experienced this and has any advice? Thank you 

[Deleted User]

Your card may be useless, but fortunately, so is your credit score.

Check your three credit files to look for potential issues, before reapplying somewhere else.  You may be carrying too much debt if you're carrying a debt on a Next account.

Jonessm1

Thank you, that may be the case, I have accounts with equifax and experian so had assumed that with good scores on both and suggestions to say now was the time to apply, I foolishly did. Next accounts wouldn't load into the system, so that too may have been an issue as it loiked like I wanted additional credit rather than utilising an interest free option to pay the account off. 
Lesson learned, but it's a frustrating one.
Thank you. 

D3xt3r5L4b

As you and many others have now learnt, your “score” means nothing in the real world of lending. 

jimbo26

Not much you can do, but you have shown to others that the scores are indeed pointless. What actually matters is a good history of managing credit.

jet01

The score itself might be pointless but the information contained within the actual credit reports isn’t. If the OP has access to the Experian and Equifax credit report as outlined above then any issues such as late payment should have been visible to them before applying to Barclaycard. And although the score maybe not the best indicator in the world I don’t think it would come back with a ‘good’ score if there were obvious issues on the credit reports. They key lesson is you really don’t what Barclaycard’s or any other providers scoring criteria is until you apply or run a soft check. I have always found it a shame that eligibility checkers don’t give you an indication of your likely credit limit as well as the chance of acceptance because sadly being accepted for a card that has too low a credit limit to take advantage of balance transfers is quite a common problem.

[Deleted User]

jet01 said:

 And although the score maybe not the best indicator in the world I don’t think it would come back with a ‘good’ score if there were obvious issues on the credit reports. 

However, unfortunately all too often they do.  Hence the advice that even if someone wishes to believe in the score as some sort of comfort factor, the data has to be checked.

Sandtree

Jonessm1 said:

 Next accounts wouldn't load into the system, so that too may have been an issue as it loiked like I wanted additional credit rather than utilising an interest free option to pay the account off. 

Banks and card issuers will always consider that as even if you had been able to transfer the balance from Next to Barclaycard then you could have immediately gone out and maxed out the Next card again. This is why have large amounts of unused credit can be a bad thing as the next bank has to consider the affordability if all get maxed (however large limits also show others trust you and banks somewhat trust each others opinion so its a balancing act)

maxximus75

Contact Barclaycard and ask them if they would review your credit limit as you applied in order to do a BT.

You never know.... you may get lucky.

You won't know unless you ask.

As for your lower, pointless credit score.  That will bounce back in a few months (it's just due to the hard search).

bonkersbonkers1

If the above post does not work - use the card sensibly for the next six months then ask again for an increase in limit.
A mute point perhaps - if £200 is the minimum on your Next account perhaps shop somewhere cheaper and go to the debt free wanabe board making a statement of affairs to see if you can save money elsewhere to throw at your Next debt -just a thought.

funkycredit

Is it definitely £200 - as in have you had an email saying if you load proof of income then it'll unlock a higher limit of £X? 

I had that. Accepted for the platinum card but only had £200 limit even though it offered £3500 at confirm screen. 

Then I got an email an hour or so later saying if I upload statements (x2) or payslips (x2) they'd unlock a limit of £3500 as they need to confirm my income. 

I did it maybe 3 weeks later and a day later I got an email with the higher limit unlocked. See image for what I mean. Worth checking your spam (if it's a prime card you applied for).