We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
triggering better CC offers
older_wiser
Posts: 2,447 Forumite
in Credit cards
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 ?
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 ?
0
Comments
-
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.Life in the slow lane1
-
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.
Good news for people who are looking i'm ok for the time being but always good to have options0 -
as above, additionally if you have searches dropping off your report that may possibly be a contributing factor0
-
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.0 -
Too many variables to really be sure of anything, but great news for you personally.0
-
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.0 -
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.0 -
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.
I dug myself out of a bit of a hole a few years back and trust me you sleep better without debt hanging over you3 -
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.1
-
No. They'll only close it if you breach terms or let it go dormant0
Categories
- All Categories
- 346.6K Banking & Borrowing
- 251.4K Reduce Debt & Boost Income
- 451.4K Spending & Discounts
- 238.8K Work, Benefits & Business
- 614.3K Mortgages, Homes & Bills
- 174.8K Life & Family
- 252K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards