How to increase credit limit of specific cards or be given high credit limits?

Dcluk95

Hi MSE, I have been with natwest for a long time and applied for their 0% card and was given a 7.8k limit. Most other cards I get tend to be 1.2k-3k. I have never successfully requested a credit increase. 

My situation; self employed,  variable salary but huge savings  about to be used to cash buy a home. Is the only reliable way to get high limits is to have provably high reliable income?

Many thanks 

JuliusCaesar

The credit limit you are offered in an online application takes into account factors such as your income and credit score, but takes no account of savings, even if you are a millionaire. However, there is a chance that you might be able to get a higher limit by talking to your bank.

daivid

Credit history and what they think you can afford seems to be how it works. How they rate what you can afford is very basic compared to a mortgage affordability assessment and takes no account of savings as mentioned above or the practicalities of your actual spending e.g. long commute vs short commute, council tax, heating bills…

powerful_Rogue

JuliusCaesar said:

The credit limit you are offered in an online application takes into account factors such as your income and credit score, but takes no account of savings, even if you are a millionaire. However, there is a chance that you might be able to get a higher limit by talking to your bank.

Corrected that for you. The lender will use their own algorithm based on the details asked and your credit history. A credit score is just a made up number only the applicant and credit reference agency see.

ZeroSum

Depends on banks. Have had a couple of tesco cards & they've both times given me poor limits, whereas other banks have given me 2x or 3x as much

Volcane

It’s the opposite experience with me and Tesco were one of the more generous limits provided… it’s so unpredictable what you’d be offered from the various organisations…. I’ve been greatly surprised for better and worse!