Request increase in credit limit Cahoot

monkeysnail

I have a cahoot revolving loan account, if I request an increase in credit limit, do they still check with Equifax or experian?

Tomthumb

I have a cahoot loan (not using it at the moment) I asked for a credit increase with them, I'd been a customer for ages, always paid a fair whack off the loan each month and they turned me down with no reason at all, It wasn't a huge amount that I wanted to increase it by and it was very frustaring at the time, my circumstances hadn't changed and I really couldn't get an explanation from them.

I gave up in the end and paid the loan off and it's just sitting there. Just my experience with them though - I hope you have better luck monkey!

monkeysnail

I know, this account has been with me for 3 years now. I always get declined whenever I asked for an increase in limit.(4 times!) I wonder why I am doing this again, DUH?!

creditcardking_2

monkeysnail wrote:

I have a cahoot revolving loan account, if I request an increase in credit limit, do they still check with Equifax or experian?

I have a cahoot loan and a cahoot overdraft. I asked for a credit limit increase on my loan and was refused, I then reduced the overdraft limit and applied for a limit increase on the loan, this was approved, I then went back to the overdraft and increased the limit back to its original limit, this was also approved. They did not do a credit check with experian.

MyUserNamesTaken

I think it's all to do with credit scoring. They've probably decided that you're at your limit when combining the overall credit you have with them.

monkeysnail

Thank you all. I am pleased to say that finally cahoot gave me the additional 5,000 limit.

Martinslovechild

I've been with Cahoot for 4 years and they've increased my overall borrowing credit limit 3 times since I joined. As I have a current account with them, they obviously have full visibility of my finances and how I conduct myself - this may have contributed to their decision.

In fact, i've had to reduce the amount available to me via the flexible loan as I realised when I received a copy of my credit report from Experian that it added to the total amount of credit currently available to me and may impact on my ability to obtain further 0% credit from elsewhere. I asked for the limit to be reduced without any problem. However - the overall borrowing credit limit is always available to you and you can always ask for the flexible loan to be increased at a later date providing that you don't exceed your total available credit limit with them.

Tomthumb

Well done Monkey! Don't spend it all at once :j