triggering better CC offers

older_wiser

I look at websites like clearscore moneysaving expert  experian periodically up until august when i looked at the comparison websites i would get offered only a limited amount of different CC.

I'm not on the lookout for any new deals as the ones i have are sufficent for my needs.

Fast forward to september yes just over a month and im suddenly getting increased credit limits for my current credit cards  some by as much as 50% and far better balance/money transfer offers along with more credit cards appearing in my eligibility searches.

My circumstances haven't changed my credit report is exactly the same no nasties that have come off etc so i wonder what triggered this increase in offers any ideas what this could be or has anyone else experienced something similar ?  

born_again

Card provider starting to offer deals again. Increased interest rates, made them wary of taking on extra debt. Now there is a bit more certainty. Marketing teams are pushing out deals, so they can meet the projected targets they have.

older_wiser

born_again said:

Card provider starting to offer deals again. Increased interest rates, made them wary of taking on extra debt. Now there is a bit more certainty. Marketing teams are pushing out deals, so they can meet the projected targets they have.

i did wonder if the BOE announcement about coming to an end of the cycle of raising interest rates would be the reason but i didn't know it would change over the time frame of 30 days or so.

Good news for people who are looking i'm ok for the time being but always good to have options

martinbainbridge1975

as above, additionally if you have searches dropping off your report that may possibly be a contributing factor

redrosebud

As well as what's already been said, it could be something as simple as the length of time since a missed payment (if applicable) going over a certain threshold, or the average age of accounts going over a certain threshold.

Half the time there's a clear-cut reason why you're getting new offers, and the other half you're left scratching your head wondering what arbitrary metric you've triggered in some top-secret algorithm.

Congrats on the new offers.

WillPS

Too many variables to really be sure of anything, but great news for you personally.

Altior

There is no discernible pattern, rhyme or reason to it. I use one of my cards solely as a mule, which I have been deploying in my stoozing for a number of years. I allow the balance to sit there for a couple of days, so that they get a couple of quid interest (so it shows on the algorithms as a GP generating account), but that is it. They just raised my credit availability from 17 to 19k. And I have something like 100k available credit across multiple cards with about 50% utilisation. Another card I maxed out the possible borrowing a coupe of months ago, and they increased the credit limit and I got new offers!

It does make you think as they have no idea I'm stoozing, how people with sub optimal discipline can dig a very big hole for themselves. 

older_wiser

thanks for the replies i'll answer afew of them no hard searches in the past 12 months perhaps one might have come off earlier this year but nothing recent. 

No late markers at all i did get one from British Gas over 15 months ago when they moved me from one server to another without actually transfering the balance that did get resolved within 90 days and the late marker was expunged on all credit files i made sure of that

it was an annoying process did get compensation though to soften the annoyance 

the longevity of my accounts is an interesting one the biggest increase is from one of my longest held accounts so maybe i've passed a date that increases their confidence in me ? 

as another person wrote i don't think theres any rhyme nor reason to the increased offers i think its just a computer says yes type event 

thanks again for the comments and the potential reasons.

martinbainbridge1975

Altior said:

There is no discernible pattern, rhyme or reason to it. I use one of my cards solely as a mule, which I have been deploying in my stoozing for a number of years. I allow the balance to sit there for a couple of days, so that they get a couple of quid interest (so it shows on the algorithms as a GP generating account), but that is it. They just raised my credit availability from 17 to 19k. And I have something like 100k available credit across multiple cards with about 50% utilisation. Another card I maxed out the possible borrowing a coupe of months ago, and they increased the credit limit and I got new offers!

It does make you think as they have no idea I'm stoozing, how people with sub optimal discipline can dig a very big hole for themselves. 

absolutely spot on, credit cards can be useful but also a way to dig a very deep hole if not managed correctly.

I dug myself out of a bit of a hole a few years back and trust me you sleep better without debt hanging over you