Credit limit increase advice

mrmarsupial

Hello

I recently asked barclaycard to increase my credit limit from £2000 to £4000 but they refused. It was £3500 when they issued it to me but I asked them to reduce it about a year ago. I have never missed a payment in 2.5 years and always pay in full. My other 2 credit cards are around £4000 limit. Any idea what rules they use when looking at a limit increase? Is it because I applied for a 100% increase ie double the current limit and they just auto say no? I told them it was for buying a car.

Thanks

mattih5

It would be interesting to see the replies to this as i'm abouts to renew my insurance at £1,100 and ideally I would like to put this on my credit card. I've already had an increase from my Halifax one and i'm not sure whether to try for another rise.

MABLE

mrmarsupial wrote: »

Hello

I recently asked barclaycard to increase my credit limit from £2000 to £4000 but they refused. It was £3500 when they issued it to me but I asked them to reduce it about a year ago. I have never missed a payment in 2.5 years and always pay in full. My other 2 credit cards are around £4000 limit. Any idea what rules they use when looking at a limit increase? Is it because I applied for a 100% increase ie double the current limit and they just auto say no? I told them it was for buying a car.

Thanks

With me I asked BC to reduce my limit about 12 months ago because I had a lob transfer at 2.9 and knew I would not being the card whilst the balance remained. However without asking not only have they increased my limit but it is higher than the original limit. Also I have a £5,500 available on my BC MC and never used that.

I know they get regular updates from Experien and they do take into account the generic credit score as well as their internal score. Possibly that may be reason your request was unsucessful because the generic score was low.

I would ask them.

Skeekwarton

I recently got a Barclaycard but didn't get the credit limit I was hoping for. I have an excellent credit rating and a much higher limit on my MBNA card ( which I was hoping to BT ). Must be a Barclaycard thing....

richardw

mrmarsupial wrote: »

I have never missed a payment in 2.5 years and always pay in full.

Perhaps the lack of them charging you interest is going against you.

Careful_with_that_Axe

I appreciate what you say about always paying off in full etc, but could it perhaps be because you already have so much credit available to you and this is going against you? Perhaps they are looking at the "worst case" scenario?