Can you apply for a credit card with a bank you do not have a current account?

HappySad

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

marcia_

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

 Yes, I have a couple with banks I have never banked with. It's standard if you search through posts on here 

HappySad

marcia_ said:

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

 Yes, I have a couple with banks I have never banked with. It's standard if you search through posts on here 

Thank you so much Marcia, for posting so early in the morning. 

3K posts! You must be on MSE forum a lot sharing your knowledge. 

vacheron

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

It certainly is. 

I have 11 credit cards, and I certainly don't have 11 current accounts.

There are also many credit card companies who do not offer current accounts. MBNA, American Express and Capital One in the UK being just a few.

HappySad

vacheron said:

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

It certainly is. 

I have 11 credit cards, and I certainly don't have 11 current accounts.

There are also many credit card companies who do not offer current accounts. MBNA, American Express and Capital One in the UK being just a few.

Brilliant! 

Do you know if there is a rough guide to work out total credit amount to have compared to your wage? 

Eg if earning 40K and already have £10K with one credit card already. How much roughly can the new credit card company roughly accept? I know it depends on all sorts of other factors. However, what would you think or know? 

Emmia

HappySad said:

vacheron said:

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

It certainly is. 

I have 11 credit cards, and I certainly don't have 11 current accounts.

There are also many credit card companies who do not offer current accounts. MBNA, American Express and Capital One in the UK being just a few.

Brilliant! 

Do you know if there is a rough guide to work out total credit amount to have compared to your wage? 

Eg if earning 40K and already have £10K with one credit card already. How much roughly can the new credit card company roughly accept? I know it depends on all sorts of other factors. However, what would you think or know? 

There is no rule of thumb that says "you earn X so should have a credit limit of Y". I know people who across a few cards have a limit of more than their annual gross salary, and I expect there's a few on the MSE forums in a similar position - some of whom just have it sitting there unused, and some who've got themselves into a pickle with it.

 Credit card companies want you to be able to afford their usage - they don't want to have to write off debt as unaffordable. Limits are actually a bit meaningless, why do you want access to more credit? 

Is it to have a separate card for certain spends, like work expenses? 

Is it to take advantage of a 0% deal to spread the cost of a larger purchase?

Is it to have a MasterCard or Amex when you only currently have a Visa (or vice versa)?

Is it to use on holiday to guarantee car hire or pay for things without a FX fee abroad?

Is it to earn rewards like cashback or points? (These are only worth it if you clear your balance in full every month).

Something else?

Personally I pay off my cards in full every month, thereby avoiding paying interest. But if I spent up to my total available credit limits I would be quite quickly onto the debt free wannabe boards with a SOA seeking advice on how to repay...

So I don't spend like that on my cards - all spending must be repaid.

HappySad

Emmia said:

HappySad said:

vacheron said:

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

It certainly is. 

I have 11 credit cards, and I certainly don't have 11 current accounts.

There are also many credit card companies who do not offer current accounts. MBNA, American Express and Capital One in the UK being just a few.

Brilliant! 

Do you know if there is a rough guide to work out total credit amount to have compared to your wage? 

Eg if earning 40K and already have £10K with one credit card already. How much roughly can the new credit card company roughly accept? I know it depends on all sorts of other factors. However, what would you think or know? 

There is no rule of thumb that says "you earn X so should have a credit limit of Y". I know people who across a few cards have a limit of more than their annual gross salary, and I expect there's a few on the MSE forums in a similar position - some of whom just have it sitting there unused, and some who've got themselves into a pickle with it.

 Credit card companies want you to be able to afford their usage - they don't want to have to write off debt as unaffordable. Limits are actually a bit meaningless, why do you want access to more credit? 

Is it to have a separate card for certain spends, like work expenses? 

Is it to take advantage of a 0% deal to spread the cost of a larger purchase?

Is it to have a MasterCard or Amex when you only currently have a Visa (or vice versa)?

Is it to use on holiday to guarantee car hire or pay for things without a FX fee abroad?

Is it to earn rewards like cashback or points? (These are only worth it if you clear your balance in full every month).

I pay off my cards in full every month, thereby avoiding paying interest. 

If I spent up to my total available credit limits I would be quite quickly onto the debt free wannabe boards with a SOA seeking advice on how to repay... So I don't spend like that. 

Thanks for your concern. Want as balance  transfer to then pay off during the 0% period. 

Do you know as a rough guide amount based to income? 

born_again

HappySad said:

vacheron said:

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

It certainly is. 

I have 11 credit cards, and I certainly don't have 11 current accounts.

There are also many credit card companies who do not offer current accounts. MBNA, American Express and Capital One in the UK being just a few.

Brilliant! 

Do you know if there is a rough guide to work out total credit amount to have compared to your wage? 

Eg if earning 40K and already have £10K with one credit card already. How much roughly can the new credit card company roughly accept? I know it depends on all sorts of other factors. However, what would you think or know? 

You may find something. But it will be pretty useless. As banks are all different & even then they will change their lending criteria, depending on their risk appetite at any given time.
So if they are having a push to increase their CC numbers, then they will ease their criteria. Finding that the if their level of possible debt is too high they will tighten the lending criteria.

Emmia

HappySad said:

Emmia said:

HappySad said:

vacheron said:

HappySad said:

Can you apply for a credit card with a bank that you do NOT have a current account with? Is this standard? Have you done this yourself? 

It certainly is. 

I have 11 credit cards, and I certainly don't have 11 current accounts.

There are also many credit card companies who do not offer current accounts. MBNA, American Express and Capital One in the UK being just a few.

Brilliant! 

Do you know if there is a rough guide to work out total credit amount to have compared to your wage? 

Eg if earning 40K and already have £10K with one credit card already. How much roughly can the new credit card company roughly accept? I know it depends on all sorts of other factors. However, what would you think or know? 

There is no rule of thumb that says "you earn X so should have a credit limit of Y". I know people who across a few cards have a limit of more than their annual gross salary, and I expect there's a few on the MSE forums in a similar position - some of whom just have it sitting there unused, and some who've got themselves into a pickle with it.

 Credit card companies want you to be able to afford their usage - they don't want to have to write off debt as unaffordable. Limits are actually a bit meaningless, why do you want access to more credit? 

Is it to have a separate card for certain spends, like work expenses? 

Is it to take advantage of a 0% deal to spread the cost of a larger purchase?

Is it to have a MasterCard or Amex when you only currently have a Visa (or vice versa)?

Is it to use on holiday to guarantee car hire or pay for things without a FX fee abroad?

Is it to earn rewards like cashback or points? (These are only worth it if you clear your balance in full every month).

I pay off my cards in full every month, thereby avoiding paying interest. 

If I spent up to my total available credit limits I would be quite quickly onto the debt free wannabe boards with a SOA seeking advice on how to repay... So I don't spend like that. 

Thanks for your concern. Want as balance  transfer to then pay off during the 0% period. 

Do you know as a rough guide amount based to income? 

The limit you'll be offered is risk based, determined at least in part by your history of paying off what you owe. Some lenders can also be more generous or parsimonious with their limits. 

Use a calculator (like the one on the MSE site) to give you a guide as to who will offer a card and a likely limit, and then re-run that in a checker provided by the providers own website (to check it's the same) before applying.

th081

Brilliant! 

Do you know if there is a rough guide to work out total credit amount to have compared to your wage? 

Eg if earning 40K and already have £10K with one credit card already. How much roughly can the new credit card company roughly accept? I know it depends on all sorts of other factors. However, what would you think or know? 

It won't be an exact since but I have 87% of my salary in credit card limits, I don't think you will have a issues getting a BT card.

Nebulous2

I'm convinced that available credit isn't nearly as big a factor for credit applications as people here make out. 

I've had over my income in credit limits for at least 20 years. At times I've had over twice my income. I'm now semi-retired, with a lower income than before, and I've taken out three credit cards in the last two months, so I'm creeping up towards double my income again. 

What is much more important is utilised credit. Once you have over half your income in debt the offers reduce, and you'll find it difficult to get credit at anything like sensible rates once you have debt at or close to the level of your income.