Anyone know any credit cards that offer more than £10k limits?

taconite2

Olinda99 said:

if each purchase is less than 10k you could buy things and pay off the next day reducing your balance so you still have 10k of credit left.

I'm doing that now and it's a faff it takes days to clear properly

Why bother when there's other cards with better limits?

Alex9384

maferit1909 said:

In theory the AMEX charge cards (platinum, green and basic) have no set limit. Although there is a calculator from Amex that will tell if a transaction will go through or decline. Testing different amounts to find the “credit limit” may result in the account being closed though.

I don't think so. This limit on charge cards changes a few times within each month so you can't really find the limit for more than a few days or maybe a two weeks or so.

I use this tool quite often, just to see what amount would go through. I have one Amex credit card with 7k limit and one charge card that used to offer over 22k until I bought a car with Lloyds CC and in the same month took money transfer offer on another card. Obviously Amex gets monthly feeds from CRAs so as my credit usage skyrocketed, my Amex charge card limit shrunk to about 3k.

Alex9384

From my personal experience, Barclaycard was the first to offer me 5k limit when I had only £1500 and £1700 on other two cards that I've had for about a year at the time. Then Amex offered me slightly more than Barclaycard, but I always get the highest limits from LBG. Lloyds always offers slightly more than Halifax but even Halifax offers me more than Amex. Interestingly, I'm not eligible for MBNA credit cards although they are in the same banking group.

Great thing about Lloyds/Halifax is that once you have one credit product with them, they don't run any more hard searches when you take another one. I have 4 current accounts and 2 credit cards with Halifax. The only hard search they've ever done was for the first current account. Same with Lloyds.

Another great thing is that if you take out one Halifax card, you can later apply for a second card and shift your credit limit from one card to another. My first Halifax card was £6300. Next year I applied for another one which was £6700. After 7 days you can ring them up, which I did, and ask them to shift a portion of your credit limit from one card to another, so one will be increased and the other reduced. The lady on the phone said most their customers don't even know they can do that. She offered me 12k limit on one card and the other would be reduced to £1000. I chose £9000 (now 10k) so the other card limit was reduced to £4000 (now 6k).

Lloyds allows me to increase the card limit in less than 6 months from the previous increase. Six months is a typical interval for limit increases with most providers. Only Amex and Lloyds allowed me to increase limits more often (Amex in about 3 months from account opening), but that might be because I was close to my limit with Lloyds.

Alex9384

Regarding Amex acceptance, I can't use it at Greggs and my car mechanic. Some Costa shops accept it and some don't, depending on who owns them. Even my barber now lets me pay with Amex. I think she uses iZettle.

mcpitman

hangryconsumer said:

taconite2 said:

They've said the max limit is £10,000 not limited by my credit rating etc just a rule they have that's the maximum they offer any customers.

I know for certain that Nwide have offered cards with limits higher than £10k. Perhaps this limit is a new thing or specifically related to your goldcard.

My NW Card is a £12k limit. Standard Black Card.

My MBNA has a 20k limit and my Virgin 14k limit, find these two lenders offer high limits.

taconite2

hangryconsumer said:

taconite2 said:

They've said the max limit is £10,000 not limited by my credit rating etc just a rule they have that's the maximum they offer any customers.

I know for certain that Nwide have offered cards with limits higher than £10k. Perhaps this limit is a new thing or specifically related to your goldcard.

Maybe the card I have now isn't available to new customers

andyf1980

I have £12k on my Virgin card. Haven’t used it for ages and have never run a balance on it. 

sourcrates

Barclaycard, back in the day, were notorious for offering new, young customers silly large credit limits, and guaranteed acceptance letters in the post, in an effort, I assume, to draw in new business.

I had a Barclaycard account for many years, with credit limits ranging from £1500 to £8000, MBNA Gold card £15k limit, various bank credit cards with £5-7k limits, I've never been a big earner myself, so the limits some posters are referring too never came my way, probably a good thing too, my sibling in her working life earned a £1mil salary, and she has never been offered more than a £20k limit on any of her cards.

BISCUIT1

Hi hope you don't mind me asking this several days down the line..when you actually got the card did MBNA honour what they offered you? I did theleigibily checker with them yesterday and got offered £11500. I have put exactly the same information in today as a precursor to filling on the actual application so all the same details nothing more nothing less and the amount of creiit offered has gone down to £2000. Canot understand why?

pjread

If you made other applications on same day/shortly after, they may well factor that in to offering a lower limit.