Is it worth asking Barclaycard for a credit limit increase?

ian016

Hi, 
      I was thinking about asking Barclaycard for a small increase on my limit. It is £400 and have had the card nearly 4 years and always paid in full. I don't want or expect much increase and have £1600 limit on a Halifax card so it is not my only credit. I always stick to a max of 25% utilisation on each card.
               I have been reading a bit on here recently and also remember Barclaycard dropping limits dramatically not long ago and with them and every other lender tightening lending, I didn't know whether it would be pointless asking only to have a mark on my file? Has anyone tried and succeeded in the last year?  Thanks

[Deleted User]

No harm in asking. There's unlikely to be any mark on your file.

NoodleDoodleMan

I doubt Barclaycard will be hard to deal with in your case - give them a call and ask to what level they are prepared to raise your limit.

Brie

It may help if you have a valid reason for needing an increase.  I've had significant increases with other cards including Barclaycard when I needed to buy a car and was able to put it on a card rather than resorting to a loan.  This was preferable due to a very short term cash flow problem so I was able to clear the card very quickly.

That said - Barclaycard did reduce my credit limit to less than 10% of what it was because I didn't suit their affordability criteria.  I expect it was a combination of having a number of other cards, little information on my credit record and a convoluted history with them.  (I never applied for their card but had one that had been bought out by various companies eventually ending up with Bs and they didn't have a credit agreement with me, still don't!)

ian016

Thanks for your replies everyone, I think I will give them a call later today just to see. I don't need an increase as such but would allow me to spend a bit more before the 25% so I'm not quite so restriced on this card. I only use this one when I go to a supermarket anyway. I use my debit card or other CC for everything else.
                   A small part of the reason is that credit karma say my overall limit is low and needs improving, but I don't know how true that is though.

[Deleted User]

It comes down to individual circumstances, Natwest, Sainsbury's and Barclaycard all just offer me increases periodically. My Lloyds one (main spending) hasn't but only had it about 5-6 months and does say you can apply for an increase if you want

Se1Lad

No need to call - you can do it through the app or website:

Jami74

ian016 said:

 I always stick to a max of 25% utilisation on each card.

Why? If you only spend £100 a month on a £400 card doesn't it look like you don't need a higher limit?

credit karma say my overall limit is low and needs improving

Why do they say that? And what does it matter what they say anyway? If you've been paying off your cards in full (assuming after the statement not after you've used them) and don't have other debt (and assuming you've got an income) maybe it's worth applying for a new one, you might get a bigger limit on a new card.

Chino

Jami74 said:

(assuming after the statement not after you've used them)

Credit card companies report both the statement balance and the amount repaid by a debtor during the month, so it matters not whether the debtor repays after using the card or on receipt of a statement; either way, lenders see that the debt is being repaid.

[Deleted User]

Chino said:

Jami74 said:

(assuming after the statement not after you've used them)

Credit card companies report both the statement balance and the amount repaid by a debtor during the month, so it matters not whether the debtor repays after using the card or on receipt of a statement; either way, lenders see that the debt is being repaid.

That is incorrect, card companies only report the data at the end of the statement period. If you pay the card once used (i.e. when the charge appears) and thus there is no balance on the card on the date of the statement, it will show as not used i.e. a statement balance of 0, not that there is a debt being repaid. Card companies categorically do not update the CRAs constantly which would be required for your statement to be true.

MalMonroe

Hi, to get back to your original question, I'd say it's always worth asking. If they say no you've lost nothing. 

Also, I find Credit Karma to be very gloomy and don't bother consulting them anymore. They were always telling me that I needed to do more work and basically pull my socks up. Clearscore (Equifax) and Experian don't seem to be half as judgemental or critical and if you keep your credit use and history in check, you've as much chance as anyone else to be accepted. 

As SE1Lad says, you can ask online or on the app.