Securing guaranteed limit on 0% payment card in advance

gravel_2

Have two CCs, modest limit (total ~9k). With the exception of when I first got one of my cards years ago, I've never utilised 0% purchase periods. I clear the balance every month. My CCs are 8 and 6 years old, hence not used to applying and the ins and outs.

Considering big purchases and/or stoozing ahead and wondering if there's a reliable way with any of the long 0% providers to get an indicative/guaranteed credit limit before applying/before credit check. For me there is no point applying unless I get a decently high limit as my normal expenditure is well within means and current CC setup works fine for those. I believe Nationwide offers this feature but that's one of my CCs so I'm excluded from the 0% promo. Also have a Barclaycard so excluded there too.

I have MSE Credit Club and Credit Karma if that impacts anything. Credit Karma lets you put in your sought limit but the limit is always "on application" or paltry £1,200.

Are many providers open to discussing this in branch or over the phone? I have a good number of existing current account/savings relationships with banks already.

Any guidance appreciated.

Phoenix72

Nope, there is no way of getting details of what credit limit you will get in advance. The eligibilty calculators tell you likelihood of getting a card but not the limit. No point speaking to a branch etc either as they have no control or knowledge of the algorithmsthat calculate your credit limit.

Gandalf644

gravel_2 said:

Have two CCs, modest limit (total ~9k). With the exception of when I first got one of my cards years ago, I've never utilised 0% purchase periods. I clear the balance every month. My CCs are 8 and 6 years old, hence not used to applying and the ins and outs.

Considering big purchases and/or stoozing ahead and wondering if there's a reliable way with any of the long 0% providers to get an indicative/guaranteed credit limit before applying/before credit check. For me there is no point applying unless I get a decently high limit as my normal expenditure is well within means and current CC setup works fine for those. I believe Nationwide offers this feature but that's one of my CCs so I'm excluded from the 0% promo. Also have a Barclaycard so excluded there too.

I have MSE Credit Club and Credit Karma if that impacts anything. Credit Karma lets you put in your sought limit but the limit is always "on application" or paltry £1,200.

Are many providers open to discussing this in branch or over the phone? I have a good number of existing current account/savings relationships with banks already.

Any guidance appreciated.

Some banks own 'soft seach' eligibility checkers will give you an indicative credit limt (which is only guaranteed when the formal 'hard search' application is then completed).

Examples are:

Natwest: https://www.natwest.com/credit-cards.html

MBNA: https://www.mbna.co.uk/

Having used both, the indicative limit shown was confirmed upon formal application.

Incidentally the £1200 often quoted in credit card adverts and eligibility checkers is a standard thing for comparison/representative purposes only - mainly to do with the APR and should not be taken as any indicative credit limit.

easyasonetwothree

I second NatWest, I was given the indicative limit that was given after a soft search.

maxximus75

Any of the Lloyds group (Halifax, Lloyds, MBNA, BOS), Nationwide, Santander, Natwest Group (Natwest, RBS, Ulster) and I'm sure there are others, will all do an initial soft search and show you an expected credit limit.

gravel_2

Thanks all for your input.

Gandalf644 said:

Incidentally the £1200 often quoted in credit card adverts and eligibility checkers is a standard thing for comparison/representative purposes only - mainly to do with the APR and should not be taken as any indicative credit limit.

Just to be clear, in this case I don't think you're correct. I recognise the £1,200 from how it's used elsewhere to demonstrate APR but in this case it's actually a guaranteed pre-application credit limit.

Gandalf644

gravel_2 said:

Thanks all for your input.

Gandalf644 said:

Incidentally the £1200 often quoted in credit card adverts and eligibility checkers is a standard thing for comparison/representative purposes only - mainly to do with the APR and should not be taken as any indicative credit limit.

Just to be clear, in this case I don't think you're correct. I recognise the £1,200 from how it's used elsewhere to demonstrate APR but in this case it's actually a guaranteed pre-application credit limit.

No matter what Credit Karma might say and their headline guarantees of credit limit etc, if you click on the box you took the scrrenshot from (where it says 'guaranteed limit'' you get the following:

As you can see, it qualifies the 'guarantee' with 'You are 100% likely'..... .  It then uses the terms 'If approved' and 'Once Approved'.

Until a hard search as part of a formal application is carried out by the lender, which will identify, amongst other criteria, such as affordability and whether the lender is lending responsibly, one can still be declined.

In short, Credit Karma's 'Guarantee'/Karma Confidence is not a 'guarantee'. Yes, you may get the credit limit (which coincidentally is the same as the standard 'Representative limit shown by lenders) and APR, but until the 'hard search' is carried out and the offer then made by the lender, it is not set in tablets of stone.

It is probably more in the way of Karma trying to point gullible or desperate borrowers to whatever lender pays them the most for the referral. Even if (as in case you highlighted) it is a rather poor 'sub-prime' card.

This forum shows many cases of 'I was declined after being guaranteed by xxxxx CRA'.

gravel_2

I think you're confusing things here, although I sure you're trying to be helpful. This latest input is not important to the topic at hand and is actually disconnected from your own first post in this thread. I am not worried about doing a hard credit check and it doesn't really matter to me if I'm rejected for the product. My sole query was about indicative limits before applying.

Of course there is no guarantee of approval via third party sites but, as that page also says, if a limit is stated then that is guaranteed IF approved. This is what I said, and is contrary to what you originally responded with, which may be why you're now trying to have a different conversation.

Here's what the other providers look like by way of contrast (and context for my previous post...):

maxximus75 said:

Any of the Lloyds group (Halifax, Lloyds, MBNA, BOS), Nationwide, Santander, Natwest Group (Natwest, RBS, Ulster) and I'm sure there are others, will all do an initial soft search and show you an expected credit limit.

Thanks for this note. Lloyds came up with a suitable credit limit and 0% period on a soft check.