think ill be paying down my cards

Chrysalis · 2 June 2019 at 11:45AM

Moving a balance in a few months, Halifax offered me a joke of a limit, the sort of limit people who need to build up their trustworthiness get.

sainsburies was at least in the 1000s but below the amount requested, the lowest limit I have had since started using 0% cards.

I am guessing my affordability calculations arent coming up great so I assume to improve this I should just pay off a significant amount in cash (or all of it) to improve it again?

Sainsburies limit was 2.5k.

I know the banks are tightening up due to pressure but I am guessing they seen something they didnt like as well.

MovingForwards · 2 June 2019 at 1:20PM

What's your annual income?

What's your total credit limit across all your cards?

Any other credit?

That will be your answer.

Ben8282 · 2 June 2019 at 9:19PM

Knowing very little about the sate of your credit files we can only guess at the problem, but in the absence of any other obvious reason I would think the most likely cause of the low credit limits (at least you got the cards) is the amount of your existing balance(s).

danthemoneysavingman · 5 June 2019 at 6:00PM

I thought the same for me given the last 2 limits I got on BT cards, which were laughable.

However, as I'd opened a natwest account recently for the promo fee, thought i'd give one last whirl on their 0% 0fee offer, and got offered a massive limit covering both cards coming to an end next month.

I've no mortgage apps I need to do soon (i.e. dont care about another search on the file) so figured why not.
So could be worth a punt for you, you never know.

think ill be paying down my cards

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free