How much credit can you ask for?

Matt123

Is there any way of estimating how much credit you can apply for?

I just had a call from CC company after I requested an increase and I had to name a figure. I decided to only increase by 1300 and it went through instantly, but if I'd gone too high would it be black mark on my credit history?

dhassen

Don't know about black mark on your history, but how much credit you will get depends on a number of different factors: your income, your history in general and specifically with the company in question. It's really hard, impossible almost, to estimate how much credit you can apply for.

In your case, if the amount you asked for was too much, I assume they would have just said no - no mark on your credit file other than a search by them.

Matt123

Ah, so would it just show as a search, it wouldn't show that you were rejected for a request for credit or something?

dhassen

No I don't think so.... if you applied for new credit and were refused, that would kind of look bad because it would be clear to other searchers that you applied for a CC with bank A but don't hold an account with bank A. I don't think it specifically states whether you where accepted or refused, but it's fairly easy to work out i.e. - if you have 7 searches on your file with different companies but only hold one account it's clear that you've been applying like mad but have been refused on a number of occasions

You're asking about a CC company you already have an account with, so I don't see why there should be any problem, or bad effect on your credit file, if you did ask for loads of credit and were refused.

Matt123

Ok, that makes sense, thanks a lot.