Is it worth asking Barclaycard for a credit limit increase?

denow

Se1Lad said:

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

Ha, your post freaked me out a little then. you have the same last 4 numbers as me ;-)

Anyway, I asked for an increase from £3,500 to £5,000 last week and was accepted. I'd tried every month for the last few to increase it to £7,000 and was declined but this month tried the lower number and all was good. Trying to get it up to a decent amount before I (hopefully) go on holiday in August.

Marchitiello

Brie said:

…  (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!)

Just for anyone new and in case you really meant that, when Barclaycard had bought whatever card provider you originally had, they also bought the credit agreement you had with them, and through the various “notice of changes” they would have given you overtime, they would have eventually brought you back to a standardised Credit agreement for whatever card version you eventually ended up with. An Example is the Barclaycard Cashback card (ex Egg, ex Duo Amex/Visa), which has its standardised Credit Agreement even for people that later moved into it from other Barclaycard products (I did that).

[Deleted User]

Deleted_User said:

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.

No, CRAs report both values. 

Alex9384

You don't need to ask anyone these days, just manage it online.

I have 7 different credit cards and all limits can be increased online, without asking anyone. I've never had any hard search on my files after increasing card limits.

The only one who wanted to hard-search me for limit increase were HSBC so I just closed the card. It was the worst card anyway.

[Deleted User]

Deleted_User said:

Deleted_User said:

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.

No, CRAs report both values. 

No they don't, there is a monthly update showing end of month balance, not a live update of every spending 

dr_adidas01

Deleted_User said:

Deleted_User said:

Deleted_User said:

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.

No, CRAs report both values. 

No they don't, there is a monthly update showing end of month balance, not a live update of every spending 

They don’t list every spend which is true, however they do report your statement balance and how much you have paid. 

So say you spent £500 on your credit card but decided to pay £400 of before your statement is produced leaving £100 as your statement balance. 

It would show as statement balance £100 and a payment of £400 had been made for that month the statement was produced. 

If they didn’t how else would lenders know that you were paying your statement balances in full!?!

jbrassy

There's no harm in asking. I did last year and they increased it from £3.5k to £6k.