Santander Credit Card Limit Increase

fhill

funkycredit said:

fhill said:

Ok I have only had the card since the start of October so it will likely be April before i see any change. I’m just hoping the fact that I am clearing the balance in full each month will outweigh the credit utilisation. 

What you pay doesn't change their algorithm I wouldn't expect. I had a £5k balance on my BT card but decided to pay it off after 3 months as I don't like owing money when I'm earning nothing on the hard cash in savings - and my limits were still increased every 6 months. 

By the way it's not 6 months statement it's 6 months from opening. So if you opened in October, they'll likely let you increase around middle of March. They update the CRA's around the middle so any increases will be available around 16th - 20th I find. 

No harm in clicking the increase limit tab. If the slider is at the max then try next month and every month around 16th. 

I wonder what way mine will work then as my card was issued in September but I didn’t activate it until October when I made my first purchase. Time will tell I suppose thanks for the tip about the 16th I’ll make sure to check at that time of the month. 

funkycredit

Try in February & March, as well as April. Unless you really mess up and miss a payment / get in too deep debt they're really good I find. 

fhill

funkycredit said:

Try in February & March, as well as April. Unless you really mess up and miss a payment / get in too deep debt they're really good I find. 

Ok perfect I’ll keep an eye on it month on month. It’s my first credit card so new to all this. I’ve had other credit in the past but not credit cards so just want to make sure I’m managing it correctly. Sorry but this will be the last question - after my first increase is it then normally every 6 months that this is reviewed? Hoping to use it as a travel card in the future because there are no foreign exchange fees for purchases so in the long run would like to see the limit at the £8-9k mark. 

jay1804

fhill said:

Hi,

I've recently taken out a Santander All In One Credit Card with an opening limit of £4200. I have just received my 3rd statement and have found each month I am spending £4000 and paying the balance in full. I am putting all my spending on this card to avail of the cashback. Does anyone know when you are likely to be offered a credit limit increase? I’ve checked on my online banking and it’s not letting me slide the slider over further to increase the limit. The reason I am looking to increase this is to have my utilisation score lower each month without having to lose out on potential cashback. 

Can anyone that has been offered a credit limit increase on this card please let me know when you received this offer and how often they are reviewed.  

Thanks

If your spending £4000 a month, I'm sure theres better reward cards.

fhill

There was a few other cards out there but this was 26 months 0% spending and no fees for using abroad so I thought this was the best option to go with. 

SuperAllyB

fhill said:

There was a few other cards out there but this was 26 months 0% spending and no fees for using abroad so I thought this was the best option to go with. 

If you're clearing it every month then the 26 months 0% is irrelevant.

born_again

fhill said:

Hi,

I've recently taken out a Santander All In One Credit Card with an opening limit of £4200. I have just received my 3rd statement and have found each month I am spending £4000 and paying the balance in full. I am putting all my spending on this card to avail of the cashback. Does anyone know when you are likely to be offered a credit limit increase? I’ve checked on my online banking and it’s not letting me slide the slider over further to increase the limit. The reason I am looking to increase this is to have my utilisation score lower each month without having to lose out on potential cashback. 

Can anyone that has been offered a credit limit increase on this card please let me know when you received this offer and how often they are reviewed.  

Thanks

You can always pay part off during the month if you are running close to limit.

Pushing for limit increases so close to taking a card out makes you look desperate. They then may decide not to increase as they fear a run away spender and a big debt looming.

Fighter1986

born_again said:

fhill said:

Hi,

I've recently taken out a Santander All In One Credit Card with an opening limit of £4200. I have just received my 3rd statement and have found each month I am spending £4000 and paying the balance in full. I am putting all my spending on this card to avail of the cashback. Does anyone know when you are likely to be offered a credit limit increase? I’ve checked on my online banking and it’s not letting me slide the slider over further to increase the limit. The reason I am looking to increase this is to have my utilisation score lower each month without having to lose out on potential cashback. 

Can anyone that has been offered a credit limit increase on this card please let me know when you received this offer and how often they are reviewed.  

Thanks

You can always pay part off during the month if you are running close to limit.

Pushing for limit increases so close to taking a card out makes you look desperate. They then may decide not to increase as they fear a run away spender and a big debt looming.

Quite, there's nothing stopping you clearing the balance every day or every week to free up the limit again 👍

fhill

Fighter1986 said:

born_again said:

fhill said:

Hi,

I've recently taken out a Santander All In One Credit Card with an opening limit of £4200. I have just received my 3rd statement and have found each month I am spending £4000 and paying the balance in full. I am putting all my spending on this card to avail of the cashback. Does anyone know when you are likely to be offered a credit limit increase? I’ve checked on my online banking and it’s not letting me slide the slider over further to increase the limit. The reason I am looking to increase this is to have my utilisation score lower each month without having to lose out on potential cashback. 

Can anyone that has been offered a credit limit increase on this card please let me know when you received this offer and how often they are reviewed.  

Thanks

You can always pay part off during the month if you are running close to limit.

Pushing for limit increases so close to taking a card out makes you look desperate. They then may decide not to increase as they fear a run away spender and a big debt looming.

Quite, there's nothing stopping you clearing the balance every day or every week to free up the limit again 👍

If I do that would I still be eligible for the cashback when the statement is issued? I thought cashback was calculated on the amount owed on the statement. 

Fighter1986

fhill said:

Fighter1986 said:

born_again said:

fhill said:

Hi,

I've recently taken out a Santander All In One Credit Card with an opening limit of £4200. I have just received my 3rd statement and have found each month I am spending £4000 and paying the balance in full. I am putting all my spending on this card to avail of the cashback. Does anyone know when you are likely to be offered a credit limit increase? I’ve checked on my online banking and it’s not letting me slide the slider over further to increase the limit. The reason I am looking to increase this is to have my utilisation score lower each month without having to lose out on potential cashback. 

Can anyone that has been offered a credit limit increase on this card please let me know when you received this offer and how often they are reviewed.  

Thanks

You can always pay part off during the month if you are running close to limit.

Pushing for limit increases so close to taking a card out makes you look desperate. They then may decide not to increase as they fear a run away spender and a big debt looming.

Quite, there's nothing stopping you clearing the balance every day or every week to free up the limit again 👍

If I do that would I still be eligible for the cashback when the statement is issued? I thought cashback was calculated on the amount owed on the statement. 

Now for that you'll have to ask Santander... I always thought it was on purchases made, after all, the purchases will still appear on your statement...