Increasing Credit Card limit question

Idpullthecurtain

Hi I have been increasing my credit card limit every 6 months.  I never miss payment and I have requested a 1k increase every 6 months which is granted.
I am wondering what would happen if I request 2k?  Is there a chance they decline and then I get no increase at all?  Or would they decline and then I request 1k which they should accept?

Any advice would be helpful.  Thanks

maxximus75

Usually, if you request an increase above what the provider, in their assessment of your account/credit file etc is comfortable with, they will counter offer with a lower amount.

BoGoF

Genuine question, do you need the increased limit. Just wondering if your motives are to reduce utilisation on some make believe credit score?

cymruchris

They might say yes they might say no. Nobody knows. You might already be on 'the limit' of your limit.

Every application will be analysed for past performance, payment history, use of card etc etc. Is there a reason to ask for exactly £1k every 6 months? Are you spending more and getting close to the limit?

Idpullthecurtain

BoGoF said:

Genuine question, do you need the increased limit. Just wondering if your motives are to reduce utilisation on some make believe credit score?

cymruchris said:

They might say yes they might say no. Nobody knows. You might already be on 'the limit' of your limit.

Every application will be analysed for past performance, payment history, use of card etc etc. Is there a reason to ask for exactly £1k every 6 months? Are you spending more and getting close to the limit?

I understood that a higher limit would strengthen my credit rating/history.  My credit card limit is quite low.

BoGoF

Idpullthecurtain said:

BoGoF said:

Genuine question, do you need the increased limit. Just wondering if your motives are to reduce utilisation on some make believe credit score?

cymruchris said:

They might say yes they might say no. Nobody knows. You might already be on 'the limit' of your limit.

Every application will be analysed for past performance, payment history, use of card etc etc. Is there a reason to ask for exactly £1k every 6 months? Are you spending more and getting close to the limit?

I understood that a higher limit would strengthen my credit rating/history.  My credit card limit is quite low.

Of your existing limit how much are you using each month. You say you paying it off in full each month then that's tbe right thing to do and is that fact that is most important. There comes a point where you can have too much available credit if youe were to apply for other credit.

Idpullthecurtain

BoGoF said:

Idpullthecurtain said:

BoGoF said:

Genuine question, do you need the increased limit. Just wondering if your motives are to reduce utilisation on some make believe credit score?

cymruchris said:

They might say yes they might say no. Nobody knows. You might already be on 'the limit' of your limit.

Every application will be analysed for past performance, payment history, use of card etc etc. Is there a reason to ask for exactly £1k every 6 months? Are you spending more and getting close to the limit?

I understood that a higher limit would strengthen my credit rating/history.  My credit card limit is quite low.

Of your existing limit how much are you using each month. You say you paying it off in full each month then that's tbe right thing to do and is that fact that is most important. There comes a point where you can have too much available credit if youe were to apply for other credit.

I only use less than 10% and pay it off every month in full.  But my limit is only £5k (long story ) 

cymruchris

Idpullthecurtain said:

BoGoF said:

Idpullthecurtain said:

BoGoF said:

Genuine question, do you need the increased limit. Just wondering if your motives are to reduce utilisation on some make believe credit score?

cymruchris said:

They might say yes they might say no. Nobody knows. You might already be on 'the limit' of your limit.

Every application will be analysed for past performance, payment history, use of card etc etc. Is there a reason to ask for exactly £1k every 6 months? Are you spending more and getting close to the limit?

I understood that a higher limit would strengthen my credit rating/history.  My credit card limit is quite low.

Of your existing limit how much are you using each month. You say you paying it off in full each month then that's tbe right thing to do and is that fact that is most important. There comes a point where you can have too much available credit if youe were to apply for other credit.

I only use less than 10% and pay it off every month in full.  But my limit is only £5k (long story ) 

£5k isn't a bad limit. Yes there are people with £20k £30k limits - but there are also people out there with £250 limits. Is it your only card?

BoGoF

Nothing wrong with a £5k limit. It's more than enough for your purposes.

Don't be taken in with all the guff you read on the Credit Reference Agency sites. The important thing here is you are building a solid history paying in full every month.

If this is your only card it might be an idea to get another as a back up.

What other credit do you have that is building your history.

Idpullthecurtain

cymruchris said:

Idpullthecurtain said:

BoGoF said:

Idpullthecurtain said:

BoGoF said:

Genuine question, do you need the increased limit. Just wondering if your motives are to reduce utilisation on some make believe credit score?

cymruchris said:

They might say yes they might say no. Nobody knows. You might already be on 'the limit' of your limit.

Every application will be analysed for past performance, payment history, use of card etc etc. Is there a reason to ask for exactly £1k every 6 months? Are you spending more and getting close to the limit?

I understood that a higher limit would strengthen my credit rating/history.  My credit card limit is quite low.

Of your existing limit how much are you using each month. You say you paying it off in full each month then that's tbe right thing to do and is that fact that is most important. There comes a point where you can have too much available credit if youe were to apply for other credit.

I only use less than 10% and pay it off every month in full.  But my limit is only £5k (long story ) 

£5k isn't a bad limit. Yes there are people with £20k £30k limits - but there are also people out there with £250 limits. Is it your only card?

Yes only 1 credit card.

Idpullthecurtain

BoGoF said:

Nothing wrong with a £5k limit. It's more than enough for your purposes.

Don't be taken in with all the guff you read on the Credit Reference Agency sites. The important thing here is you are building a solid history paying in full every month.

If this is your only card it might be an idea to get another as a back up.

What other credit do you have that is building your history.

Its now the only thing thats building my credit. 

I just ditched a mobile contract to go PAYG, and I have Next Account, but I never use it.  Would it be beneficial to get more credit  from another channel?