Credit Card Limit

dprice8893

I've recently used the MBNA Credit card app to raise my limit from £1000 to £5000 and was automatically refused.
I've been with them for over 25 years and never missed a payment which is by DD full amount each month.
I'm retired with an annual income of £47000 and no mortgage/rent
I have an excellent credit rating with the major credit checking agencies.
MSE Credit club says I'd be 100% accepted for any new credit card applications
My reason for application was to take my total credit limit above the desired £15000.

Any ideas for the refusal? 

born_again

You do not fit their risk/lending profile.
You debt exposure already.

Why do you want a desired £15K?

Phoenix72

What do you mean by the desired £15,000? Very few cards will give a £15k limit

How much are you using of your limit each month. Maybe try a smaller increase, you have asked for 5 x yiur currentl imit

Mr.Plinky

Have a look at. Clearscore if you haven't already was a massive help with us have a read on the thread that helped us. 
https://forums.moneysavingexpert.com/discussion/6522847/interest-free-cc-and-obtaining-a-20-to-30k-credit-limit-at-application#latest

I will say MBNA we're the most frugal on limits and I think are tied to Lloyd's. 

Maybe check CCs you bank with as they have more inside knowledge of your financials. Also if you have a savings fund check which banking group they're affiliated with again they have a record of your actual activity. 

Clearscore came up trumps and we did apply for several at once with one being refused last month but accepted this month. 

Nasqueron

Mr.Plinky said:

Have a look at. Clearscore if you haven't already was a massive help with us have a read on the thread that helped us. 
https://forums.moneysavingexpert.com/discussion/6522847/interest-free-cc-and-obtaining-a-20-to-30k-credit-limit-at-application#latest

I will say MBNA we're the most frugal on limits and I think are tied to Lloyd's. 

Maybe check CCs you bank with as they have more inside knowledge of your financials. Also if you have a savings fund check which banking group they're affiliated with again they have a record of your actual activity. 

Clearscore came up trumps and we did apply for several at once with one being refused last month but accepted this month. 

Clearscore are no different to any other eligibility checker, it's always best to go to the lender directly for a soft check.

Your experience doesn't translate to what the OP will get, different circumstances and such. MNBA were more of a sub-prime lender for a long time, perhaps still are, so may well not offer limits like OP wants. I have £4k on a Lloyds card (main spending, never been offered an increase) and £7.5k on a Halifax card which has been increased over time (used occasionally for BT but otherwise just the odd spend to keep it active). 

NoodleDoodleMan

Understanding what criteria banks apply to credit card limits has always puzzled me.

Some years ago I opened a Santander Zero CC and they gave me a £10,000 ceiling.

More recently they gave a £5,500 limit on a newly opened Edge CC - I requested the repective amounts be switched over - no can do was the response.

Barkin

Mr.Plinky said:

I will say MBNA we're the most frugal on limits 

That's not my experience. I've had an MBNA card for more years than I care to remember, and they've always been - for me - far more generous with my credit limit than any of my other cards.

But then, my own circumstances are unique to me... 

Volcane

Barkin said:

Mr.Plinky said:

I will say MBNA we're the most frugal on limits 

That's not my experience. I've had an MBNA card for more years than I care to remember, and they've always been - for me - far more generous with my credit limit than any of my other cards.erica 

But then, my own circumstances are unique to me... 

MBNA in their Bank of America days ( prior to Lloyds ) were known for their very high limits for many people.

Nebulous2

Volcane said:

Barkin said:

Mr.Plinky said:

I will say MBNA we're the most frugal on limits 

That's not my experience. I've had an MBNA card for more years than I care to remember, and they've always been - for me - far more generous with my credit limit than any of my other cards.erica 

But then, my own circumstances are unique to me... 

MBNA in their Bank of America days ( prior to Lloyds ) were known for their very high limits for many people.

I very much agree. I've had my card a long time, but it still has my highest limit. MBNA has some useful features, that were generous to users, and there was some concern here about the takeover. 

Barclaycard were probably second to MBNA in generous limit setting, but they had a couple of rounds of dramatic limit cuts, which I escaped, without being taken over by anyone. 

Things change - and to get the best out of products it's helpful to keep up-to-date. 

dprice8893

Phoenix72 said:

What do you mean by the desired £15,000? Very few cards will give a £15k limit

How much are you using of your limit each month. Maybe try a smaller increase, you have asked for 5 x yiur currentl imit

I refer to the total credit card credit  for all your credit cards. Over £15000 is what the credit agencies like to see and that your using over 1% of your available credit. I only use CC for the insurance and protection they offer.

dprice8893

Thanks for all the comments. Things have obviously changed over the years. I can remember when periodically, CC companies automatically increased limits and it was down to the user to object.