Santander Edge Credit Card Credit Limit

RedImp_2

I’ve just applied for this as I have a Santander bank account to replace my Chase for cashback.  

Has anyone got experience of changing credit limit, just looking and they’ve only given me £700, so I’m never going to maximise cashback on that basis.  I already had a Santander All In One Card which I’ve got a credit limit if £8k on, so don’t know how they arrived at £700.

Ayr_Rage

They probably decided that a total credit limit of £8,700 across two cards is what you can afford.

I wouldn't bank on being able to increase the limit until you have been using the card for a few months.

flaneurs_lobster

RedImp_2 said:

Has anyone got experience of changing credit limit, just looking and they’ve only given me £700, so I’m never going to maximise cashback on that basis.  I already had a Santander All In One Card which I’ve got a credit limit if £8k on, so don’t know how they arrived at £700.

You don't need much of a hike to the Edge CC limit to max out cashback (at least for year 1), £15 max needs £750 spend at 2%. Why not ask for an increase to £1k, that should cover any non-cashback spend, maybe suggest a corresponding decrease in the limit on the other card if they are reluctant. 

steven141

Could you not spend say £100 then pay it off and then spend the other £650 and pay that off in full by the due date?

I'm not sure if it can be done but would they transfer some of your credit limit from your other card like take some away and make both an equal amount? It's worth calling and asking. They can only say no.

RedImp_2

steven141 said:

Could you not spend say £100 then pay it off and then spend the other £650 and pay that off in full by the due date?

I'm not sure if it can be done but would they transfer some of your credit limit from your other card like take some away and make both an equal amount? It's worth calling and asking. They can only say no.

I did think that with timing of payments the only way to take advantage of cashback would be to pay early and probably more than once a month !  But that’s so different from how credit cards normally work!

RedImp_2

flaneurs_lobster said:

RedImp_2 said:

Has anyone got experience of changing credit limit, just looking and they’ve only given me £700, so I’m never going to maximise cashback on that basis.  I already had a Santander All In One Card which I’ve got a credit limit if £8k on, so don’t know how they arrived at £700.

You don't need much of a hike to the Edge CC limit to max out cashback (at least for year 1), £15 max needs £750 spend at 2%. Why not ask for an increase to £1k, that should cover any non-cashback spend, maybe suggest a corresponding decrease in the limit on the other card if they are reluctant. 

I think though, let’s say I spent £750 in month 1, payment for this wouldn’t be taken (in the normal course of events) for 3/4 weeks so no headroom to spend any more.
I don’t need both credit cards as such, well unless I’m stuck with £700 so I’ll try and speak to them to see if can move the limit across.

RedImp_2

Ayr_Rage said:

They probably decided that a total credit limit of £8,700 across two cards is what you can afford.

I wouldn't bank on being able to increase the limit until you have been using the card for a few months.

Possibly, although applying for it didn’t give me the impression they knew anything about me as a customer the way I had to fill everything in!

Hoenir

RedImp_2 said:

flaneurs_lobster said:

RedImp_2 said:

Has anyone got experience of changing credit limit, just looking and they’ve only given me £700, so I’m never going to maximise cashback on that basis.  I already had a Santander All In One Card which I’ve got a credit limit if £8k on, so don’t know how they arrived at £700.

You don't need much of a hike to the Edge CC limit to max out cashback (at least for year 1), £15 max needs £750 spend at 2%. Why not ask for an increase to £1k, that should cover any non-cashback spend, maybe suggest a corresponding decrease in the limit on the other card if they are reluctant. 

I don’t need both credit cards as such, well unless I’m stuck with £700 so I’ll try and speak to them to see if can move the limit across.

You'd probably need to ask for a reduction first. Then when this is done. Apply for a higher limit. The processess will be handled in different departments. 

BACKTOBACK

You can move the limits across, i have done this before. i had one existing card, applied for a second. Then closed the first and had the limits merged on the new card. It takes about a week for them to do this as its done by a separate department to the customer service

Tony5896

BACKTOBACK said:

You can move the limits across, i have done this before. i had one existing card, applied for a second. Then closed the first and had the limits merged on the new card. It takes about a week for them to do this as its done by a separate department to the customer service

I have also been asked if I wanted to combine the limits when I closed a card .. 
Easiest thing would be to go into a branch and ask about moving part of the limit from one card to the other .. I wouldn't blindly close a card incase they decide they don't want to change anything .. 

RedImp_2

Just to confirm to anyone searching for the same issue I have called Santander and was able to effectively transfer credit limit from one card to another (or indeed transfer the whole amount & close the original )