Credit cards - estimated limits before hard check

aJayMitchell

Hi all,

My partner and I will be moving house next week and are keen to get a couple 0% spending credit cards for some of the big spends such as sofas, TV, etc.

Are there any lenders who will provide an indication of what credit limit you'll get prior to a hard check being done on your credit report? 

Thanks in advance,
Ally

cymruchris

Nationwide 

santander 

mbna 

lloyds

asda by jaja 

John Lewis by new day 

although indicated and reality can be different - a friend was indicated at £4.5k on nationwide and was given £3.5k.

GrumpyDil

When you say moving do you mean purchasing. If purchasing with a mortgage probably better to wait until after the move before getting additional credit.

If no mortgage or renting then ignore the above. 

Ebe_Scrooge

To add to the above - please don't go spending more than you can afford.  Whilst it's an exciting time moving into a new place and getting it how you want it, it's not necessary to buy everything brand new, or straight away.

If you're certain that you'll be able to repay the card in full by the time the promotional rate expires then great.  But you cannot assume that you'll be able to transfer any remaining balance to another card, and if its not cleared then you could be looking at some pretty hefty interest payments.

Sorry, not wishing to put a damper on things, just trying to be boringly sensible

aJayMitchell

Ebe_Scrooge said:

To add to the above - please don't go spending more than you can afford.  Whilst it's an exciting time moving into a new place and getting it how you want it, it's not necessary to buy everything brand new, or straight away.

If you're certain that you'll be able to repay the card in full by the time the promotional rate expires then great.  But you cannot assume that you'll be able to transfer any remaining balance to another card, and if its not cleared then you could be looking at some pretty hefty interest payments.

Sorry, not wishing to put a damper on things, just trying to be boringly sensible

Don't worry, as a Chartered Accountant, I'm on top of all the budgeting. We've just pushed our LTV as much as we can to get the best mortgage rate, which leaves us quite tight in the short term - hence looking for a spending credit card. Both my partner and I are completely debt free (apart from the mortgage and a rewards card I clear each month), so credit checks shouldn't be an issue.

Also aware not to apply until after we have drawn down the mortgage.

MrFrugalFever

Sometimes on the MSE Credit Club offers checker it will provide you with an indication of limit and APR, but as Chris has posted above, there are lenders whom will as part of their initial soft search, provide you will an indication and it is best t check eligibility directly with them on their own websites as opposed to a credit broker.

Generally your assessment of affordability (disposable income) will likely determine the limit - in my experience.

good luck with the move.

blue.peter

If you apply shortly after moving house, there's a risk that a credit card application will be refused for that reason alone. Card issuers like you to have lived at the same address (and been on the electoral roll there) for a long time.

The one and only time I was refused for a credit card was when I applied shortly after moving house. I'd been at my previous address for over 20 years, and had an otherwise perfect credit history. (Credit card user for 30+ years, perfect repayment record, recently paid off a mortgage, no other recent credit applications, never subject to a CCJ or bankruptcy and so on.) I applied for the same card again a couple of years later, and was accepted then.

[Deleted User]

I was a NatWest customer for a while, I applied on the off chance for their 0% BT card and they showed the limit (more than I asked for) in the application process before actually doing the final stages of applying.

I'd keep in mind if mortgage has just gone on your file, it might result in rejections from new credit lines for a few months until things have settled down. Use freecycle and other resources as a temporary thing if needed as applying for 0% credit to buy stuff suggests you can't afford them