Refused Limit Increase But Won't Say Why

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arthur715
arthur715 Posts: 4 Newbie
in Credit cards
I've had my current credit card for 2 years and want to book a holiday that would take me over my limit. Most of my monthly expenditure is by credit card and I pay off the balance every month by direct debit. I have never defaulted on a payment. My Experian credit score is 999 (the maximum possible).

I applied for a credit limit increase and was refused BUT my main issue is that they will not tell me WHY because of the "sensitive nature" blah, blah, blah.

What is so sensitive about telling ME why they won't increase MY credit limit?
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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Because their lending criteria is commercially sensitive.

    Also because the call centre won't know why.

    Your Experian score will be of no interest to them.
  • BoGoF
    BoGoF Posts: 7,099 Forumite
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    As above but what is current limit, income level and other debt levels?
  • GM1880
    GM1880 Posts: 169 Forumite
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    As ZX81 suggests, the credit history (and score for what it's worth) is only part of the equation.

    If you always pay it off in full some lenders may see they don't make money off you so no benefit to them to increase your limit. I don't think this is often the case, but it's the lenders prerogative I'd have though.

    Your credit history doesn't include salary for example, so maybe there's a query over affordability?

    Who knows really.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    All lending criteria beyond the basics are sensitive. They are also too complex to easily explain, as they are not single factor decisions.

    Experian scores are just a gimmick for customers to enjoy.
  • BorisThomson
    BorisThomson Posts: 1,721 Forumite
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    Pay the first £100 by CC then the rest from your savings.
  • BoGoF
    BoGoF Posts: 7,099 Forumite
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    Look elsewhere then.

    If you have the cash why are you wanting to put it onto a card. If its for S75 protection you just need to pay the deposit by card.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Customer loyalty went out of the window when everyone started chasing the lowest possible price on everything. It's very much a two way street.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    BorisThomson wrote: »
    Pay the first £100 by CC then the rest from your savings.


    Or £10, or £1, or 10p, or 1p - any amount paid on a CC as long as the total for the item being purchased is between £100 and £30,000 provides S75 protection.
  • bazzyb
    bazzyb Posts: 1,584 Forumite
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    arthur715 wrote: »
    What's so sensitive about their lending criteria? If they don't explain their refusals, even in general terms, then how are customers supposed to change their behaviour?

    It’s their money, they can choose who they do and don't lend their money to.

    If they made public their lending and underwriting criteria in great detail then apart from anything else it would encourage fraud.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    arthur715 wrote: »
    Surely people have ALWAYS sought the lowest price, or at least the best value?

    It was never as easy as it is now. People didn't contact 30 insurance companies for a quote each year.

    Providers know they'll get no business if they don't have some loss leaders and hope to make a profit in subsequent transactions.
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