Post Office Credit Card

[Deleted User]

Hello all,
Just wondering I’ve been looking at the post office credit card and heard that you can get a credit limit of up to £8000 what will be the initial limit £1200 or will it be up to £8000 for the initial limit?
another question
what Apr would you get with a excellent credit score and what Apr would you get with a poor credit score? If you don’t mind me asking?

TadleyBaggie

The limit will be determined based on your credit history, no one here knows what that will be. The £1200 "limit" is just a representative example, which all credit providers are required to provide.

cymruchris

RahmanQ said:

Hello all,
Just wondering I’ve been looking at the post office credit card and heard that you can get a credit limit of up to £8000 what will be the initial limit £1200 or will it be up to £8000 for the initial limit?
another question
what Apr would you get with a excellent credit score and what Apr would you get with a poor credit score? If you don’t mind me asking?

Honestly - you seem amazingly desperate for credit - you do realise that with your recent Amex application and the two other applications you've made, all being declined - nobody much is going to be saying yes to any new card applications for a little while yet. For every hard search you carry out and get declined - the odds will continually be stacking against you from getting any further credit. Is there a reason you're desperate for credit at this particular moment in time, as it appears you're just randomly applying for everything, and not worrying or thinking about the consequences?

It appears you don't understand what the £1200 they show on all their communications means - and you've 'heard' (from where?) that the post office card offers an £8k limit? Cards don't have fixed limits that everyone gets - every application is dealt with on an individual basis based on your own circumstances. There are people that get £200 limits - and there are people that get £20k limits (or more). 

JamesPeter

cymruchris said:

RahmanQ said:

Hello all,
Just wondering I’ve been looking at the post office credit card and heard that you can get a credit limit of up to £8000 what will be the initial limit £1200 or will it be up to £8000 for the initial limit?
another question
what Apr would you get with a excellent credit score and what Apr would you get with a poor credit score? If you don’t mind me asking?

It appears you don't understand what the £1200 they show on all their communications means - and you've 'heard' (from where?) that the post office card offers an £8k limit? Cards don't have fixed limits that everyone gets - every application is dealt with on an individual basis based on your own circumstances. There are people that get £200 limits - and there are people that get £20k limits (or more). 

Re the £8k limit, the OP has probably taken it from the PO Classic CC webpage:

https://www.postoffice.co.uk/credit-card/classic-card

Obviously this is the 'upper lmit' for the card and would probably need a squeaky clean and well established credit history to get that limit.

For the OP - the asterisk next to the quoted £8k credit lmit means (taken from the webpage); ''*Fees and terms are subject to your individual circumstances and may differ from those displayed''.

To the OP - have you used the 'Check your Eligibility' on the above quoted webpage to see if they will even give you a credit card?

As to the APR and credit limit you will get, as others have said, only the PO (or Capital One as they issue the PO cards) will be able to tell you that once you apply.

Ebe_Scrooge

RahmanQ said:

what Apr would you get with a excellent credit score and what Apr would you get with a poor credit score? If you don’t mind me asking?

With an excellent score you'll get an APR of minus 12.65% - i.e. they'll pay you for borrowing money.  If your score is less than 50, then you'll be hit with a crippling 748% APR.

Seriously, your score is meaningless, the lender doesn't see it.  The APR you'll be offered is, just like the credit limit you'll be offered, entirely dependent upon the data contained in your credit history - and you won't know what this is going to be until your application has been approved.  A solid history of always repaying your debts on time, coupled with a relatively low borrowing-to-income ratio, will tend to see you offered high limits and a reasonable APR.  Conversely, a higher-risk customer will receive a lower limit and a higher APR.

I really would advise that you make sure you understand how credit cards work before you open one.  Used sensibly they can be a very useful financial tool.  Used wrongly they can lean to spiral of debt.

[Deleted User]

cymruchris said:

RahmanQ said:

Hello all,
Just wondering I’ve been looking at the post office credit card and heard that you can get a credit limit of up to £8000 what will be the initial limit £1200 or will it be up to £8000 for the initial limit?
another question
what Apr would you get with a excellent credit score and what Apr would you get with a poor credit score? If you don’t mind me asking?

Honestly - you seem amazingly desperate for credit - you do realise that with your recent Amex application and the two other applications you've made, all being declined - nobody much is going to be saying yes to any new card applications for a little while yet. For every hard search you carry out and get declined - the odds will continually be stacking against you from getting any further credit. Is there a reason you're desperate for credit at this particular moment in time, as it appears you're just randomly applying for everything, and not worrying or thinking about the consequences?

It appears you don't understand what the £1200 they show on all their communications means - and you've 'heard' (from where?) that the post office card offers an £8k limit? Cards don't have fixed limits that everyone gets - every application is dealt with on an individual basis based on your own circumstances. There are people that get £200 limits - and there are people that get £20k limits (or more). 

Oh no I wasn’t going to apply for this credit card my mates were asking me about this credit card they wanted and ask me this question and didn’t really know what he meant he said that you can get up to £8000 credit limit. I won’t be applying for any credit card soon I’ll be waiting 7-8 months now I don’t want to ruin my credit background 

cymruchris

RahmanQ said:

cymruchris said:

RahmanQ said:

Hello all,
Just wondering I’ve been looking at the post office credit card and heard that you can get a credit limit of up to £8000 what will be the initial limit £1200 or will it be up to £8000 for the initial limit?
another question
what Apr would you get with a excellent credit score and what Apr would you get with a poor credit score? If you don’t mind me asking?

Honestly - you seem amazingly desperate for credit - you do realise that with your recent Amex application and the two other applications you've made, all being declined - nobody much is going to be saying yes to any new card applications for a little while yet. For every hard search you carry out and get declined - the odds will continually be stacking against you from getting any further credit. Is there a reason you're desperate for credit at this particular moment in time, as it appears you're just randomly applying for everything, and not worrying or thinking about the consequences?

It appears you don't understand what the £1200 they show on all their communications means - and you've 'heard' (from where?) that the post office card offers an £8k limit? Cards don't have fixed limits that everyone gets - every application is dealt with on an individual basis based on your own circumstances. There are people that get £200 limits - and there are people that get £20k limits (or more). 

Oh no I wasn’t going to apply for this credit card my mates were asking me about this credit card they wanted and ask me this question and didn’t really know what he meant he said that you can get up to £8000 credit limit. I won’t be applying for any credit card soon I’ll be waiting 7-8 months now I don’t want to ruin my credit background 

It's probably ruined already for a little while with your recent activity - so you should leave it at least 6 months before you apply for anything else - and in the meantime make sure that what you do have is absolutely accurate on all of your credit agency files, and all existing accounts are paid on time without fail. As others have said above - if your credit history is impeccable, spotless, with a huge history of successfully managing your accounts - there's a chance they'll give you the £8k limit - if you're an average person like most people - you might get between £1k and £3k at a guess - and if your history has a few black marks - you'll more likely fall into the £200-400 category as it's a Capital One card - and that's where they start people off when people are new to credit cards or have a less than perfect history.