Ulster Bank credit limit

eaustin

I was in the process of applying for an Ulster Bank credit card with the intention of transferring a balance @ 0% for 6 months. At the end of the approval process is was given a credit limit of £2,000. I aborted my application.

I have now reduced my Egg Money credit limit down to £500. How long before my credit record will be updated with this information and therefore how long should I leave it before reapplying and hopefully getting a larger limit?

Or is there any other way in persuading Ulster to give me a larger limit?

YorkshireBoy

The Ulster Bank Gold card has a minimum credit limit of £3,000 (and it seems most people only get this). Did you apply for the correct product, or were you 'downgraded'?

It'll be (up to) a couple of months before the new EM limit appears on your CRA report. Not sure whether the Ulster card will appear...possibly so, but opened/closed in quick succession?

Most people seem to get a 20% increase (£3K to £3.6K) on the Ulster Bank Gold card during the activation call. They will consider going higher but want your life story first! Because NatWest (same group) took nearly 9 weeks to review mine last year, and Ulster is only 6 months, I wouldn't recommend it!

eaustin

Thanks YB for your usual helpful (and amusing) advice.

As I aborted the application I assumed it would not be included. You suggest that might be incorrect.

YorkshireBoy

eaustin wrote: »

As I aborted the application I assumed it would not be included. You suggest that might be incorrect.

They will have credit searched you in order to grant a credit limit.

They may need a signed credit agreement (unless you electronically signed online before seeing your credit limit?) to place the account on your CRA file?

eaustin

In retrospect I realise I initially applied for their Classic card and not the Gold card. Hence the £2,000 limit.

I then applied for the Gold card and got a £3,000 limit increased to £3,6000 of which they allowed me to transfer 95% from my Egg Money card.

If I now went back and applied for the Classic card would that count as an additional search or would it reactivate my original application.

Any advice appreciated.

CannyJock

If time has gone by then I'd assume another credit search - anything could have happened to your credit file in the meantime.

If you're looking for a decent credit limit, then Ulster aren't likely to give you much more if you've already got their Gold Card. Would it not be better to go after another card instead?

If you've not already got one of the MBNA family then they're well worth a look. Full list of cards and issuers on the stoozing site (www.stoozing.com)

eaustin

Thanks Jock

I've got the following cards:

Virgin Money (MBNA?) £11,500
Barclaycard £5,000
Ulster Bank Gold card £3,600

I also have an HSBC credit card maxed out and a Halifax credit card for purchases.

CannyJock

I got a decent credit limit with Natwest, have Natwest (7250), Mint (3300) and Ulster (3000) in my stooze deck. Missed the increase during my activation call - doh! They're all from RBS but different flavours.

Lots of posts about multiple MBNA cards. I applied for all my RBS cards pretty much at the same time but before they had balances on them.

Anyone got any advice on applying for another MBNA card when you have a 10K+ balance already on it? Better to wait till it's nil balance and then apply for a new one?

macdady

Guys a bit off topic here but could anyone tell me if theres a list with all credit cards and banks associated with each. My credit report is good but I was rejected by virgin a few weeks ago. I've just realized that virgin is part of the mbna group and I already have a card with them. doh!!!

Thanks in advance,

Mac

CannyJock

macdady wrote: »

Guys a bit off topic here but could anyone tell me if theres a list with all credit cards and banks associated with each. My credit report is good but I was rejected by virgin a few weeks ago. I've just realized that virgin is part of the mbna group and I already have a card with them. doh!!!

Thanks in advance,

Mac

Ah you'll be meaning the extensive list of credit cards and their issuers on the stoozing website at http://www.stoozing.com/cards.htm

Many people have multiple cards with MBNA though, depends if you have an outstanding balance with them maybe.

macdady

CannyJock wrote: »

Ah you'll be meaning the extensive list of credit cards and their issuers on the stoozing website at http://www.stoozing.com/cards.htm

Many people have multiple cards with MBNA though, depends if you have an outstanding balance with them maybe.

Thanks CannyJock. Thats the website i've been looking for :-)

I currently have a O% England credit card with them which will soon be going up to 16.9% APR. :-(