Credit Limit Decrease Anyone?

thor

My Egg anniversary bt will be ending at the beginning of next month and I'm looking ahead to taking it on again next year.
It would be nice if I could get a limit increase before then but I'm a bit worried about asking for one as I've applied for quite a few cards in the last 6 to 12 months and this must reflect negatively on my credit score(at least that is what I think).
Is it possible then that applying for a credit limit increase can in some circumstances result in a limit decrease? Has this happened to any other moneysavers?

johnllew

Is it possible then that applying for a credit limit increase can in some circumstances result in a limit decrease?

MBNA has been known to do this.

Joe_Bloggs

@Thor
I am in the same position in one months time.
I am always turned down for a credit limit increase by egg. You can apply online but you have to suggest your new limit. I went for existing limit + £1 without success.

I never used the green card after they made it 0.1% purchase rebate. Perhaps if it was used it to pay the odd bill I might have had more bargaining power.

Has anyone had any luck applying for an Egg Blue and being able to swap limits between blue and green to suit their needs ? I may give the blue a try as I have nothing to lose in the short term.

J_B.

zcaprd7

I've been playing this game with Egg - I would have thought doing it the month before my anniversary would be a no no but...

I went from £1900 to £5000 automatically, then about a week later I asked to put it up to £10,000 - no instant decision but got an email saying yes!

I guess I am near the limit they will let me have but nothing to stop you asking until the auto increase stops?

I guess it depends what salary you say you have?

Joe_Bloggs

@zcaprd7
When you referred to 'automatic' did you mean unrequested credit limit increases over time or increases
granted by a the instant web based application proceedure ?
J_B.

zcaprd7

I meant "increases granted by the instant web based application proceedure"...


Of course it could be easier to just ring up and ask for the maximum!

thor

I have had this EGG card for 16/17 months and thinking about it I have already had an increase that was unrequested. They gave a 10% increase out of the blue. This was after I paid off the 0% promo that everyone recieved around January and February. EGG have been so good to me over tha last year and a half( as well as being an sbt card, there has only been three months where I have not had their cash stashed away in a savings account earning me interest) that I can't see them granting an increase. I suppose I'll just have to hope that they have a funny turn and give me another unasked for increase so that I don't have to worry about my credit record. This could be important as I intend to get a few more cards in the coming months to replace the ones which will be running out just before and after the new year.