Credit Card Limit

Lebene · 28 May 2018 at 1:54AM

Dobbibill wrote: »

Don't pay any attention to the scores someone has told you about. Check all 3 main CRAs. If it's for a mortgage product etc you will have been told how that particular lender scored you, not all lenders.

MSE Credit Club (Experian report)
Clearscore (Equifax report)
Noddle (Call Credit report)
Again, don't pay attention to the scores - they will be different for each CRA, check the data held.

Utilising 100% of your limit is likely to appear negatively to other lenders, coupled with occasionally going over will paint a bleak picture if it continues to happen.

Look at having a DD set up to collect the payment in full - to do this, because of the timing of statement and due dates, never use more than 40% of your credit limit so the maximum used is normally around 75-80% by the time the payment is taken.

Making a mistake is human nature, learning from and dealing with it is what defines you.

You're absolutely right. I have used Experian already, I will use the other's too then to see what the disparity is. Although, I did the Experian check a month before the first mistake in March.

Dobbibill · 28 May 2018 at 7:16AM

The only other thing I would add - it's always good to have a second card for back up so rather than increasing your limit by a few pounds, have you considered applying for a second card with a different provider.

This will mean you are able to keep your utilisation low and should either card have an IT issue, you have that back up. As an example, I use one card for groceries but a different card for fuel etc. Cashback is a nice perk too. There are several that offer this but the easiest to get is probably an Aqua Reward card.

We all make mistakes, how you learn from and deal with it is what matters.

Ben8282 · 28 May 2018 at 7:24PM

Lebene wrote: »

I don't want such a higher limit even if I won't use it (I won't, I don't use my credit card unless I have wages coming in). But I'll learn if there's even such a thing as a card between 500 and 1000.

At the risk of once again being sarcastically thanked for my wisdom:
1. It is NOT normal, even if a credit card is to be repaid in full each month, to be operating the account at 100% utilisation. This is the cause of your over limit problems and is perhaps one of the reasons why Natwest, who you have a current account with and issue the credit card, have never seen fit to increase the rather pathetic £500 credit limit even though you have held the card for 8 years. I think £5000 would be a more appropriate credit limit for your level of spend.
2. How will you 'learn if there's even such a thing as a card between 500 and 1000'. You really are displaying your lack of knowledge about how credit cards work. You apply for the card. You are given a limit.

A4445 · 28 May 2018 at 7:52PM

Dont run a card so close it its limit its asking for trouble, unless its for a balance transfer and the card isnt going to be used.

Ask for an increase to £750 but going over limit twice its unlikely they will say yes as them may deem you a risk.

Unfortunately payments dont instantly appear on your account, this is the uk banking system. It doesnt really matter what other countries do, it doesnt apply here.

If you pay off in full each month why not try CapitalOne or AQUA they are likley to give you a further card, split your spending and problem solved!

Lebene · 28 May 2018 at 9:32PM

Ben8282 wrote: »

At the risk of once again being sarcastically thanked for my wisdom:
1. It is NOT normal, even if a credit card is to be repaid in full each month, to be operating the account at 100% utilisation. This is the cause of your over limit problems and is perhaps one of the reasons why Natwest, who you have a current account with and issue the credit card, have never seen fit to increase the rather pathetic £500 credit limit even though you have held the card for 8 years. I think £5000 would be a more appropriate credit limit for your level of spend.
2. How will you 'learn if there's even such a thing as a card between 500 and 1000'. You really are displaying your lack of knowledge about how credit cards work. You apply for the card. You are given a limit.

1. Who said I use my card at 100% each month? The reason I don't like you is that you keep insinuating and making up narratives that never happened. You're not talking to me, you're talking to a fantasy to talk down to.
2. My card is a student card, the limit is £500 and cannot be increased. I have never bothered to increase it because I didn't need it.
If I apply for a card and they give me a limit, will I then not learn if there's a possibility to get anything between 500 and 1000?
Jaysus christ. Go away.

Thanks again for your unending wisdom. AGAIN.

msallen · 28 May 2018 at 9:46PM

Some people really do exhibit all the attributes of the standard classification of an IQ between 50 & 69 don't they?

Lebene · 28 May 2018 at 9:49PM

Dobbibill wrote: »

The only other thing I would add - it's always good to have a second card for back up so rather than increasing your limit by a few pounds, have you considered applying for a second card with a different provider.

This will mean you are able to keep your utilisation low and should either card have an IT issue, you have that back up. As an example, I use one card for groceries but a different card for fuel etc. Cashback is a nice perk too. There are several that offer this but the easiest to get is probably an Aqua Reward card.

We all make mistakes, how you learn from and deal with it is what matters.

That's a great idea actually. I can use one card for groceries and household items and the other card for work/travel-related expenditures. As I don't use my credit card unless I'm working or have considerable savings.

Learned about British banks having mandatory 'authorised' or 'unauthorised' overdrafts the hard way (Once again because I was too comfortable with my Chinese bank's system). I have an authorised OD but I have left the overdraft for uni days. I don't ever want to use it again - haven't since I graduated and went over by £12, hence learning my lesson. I will return to paying off my credit card 1-2 weeks before rather than scheduling a payment too.

I applied for the Aqua card as you and A4445 suggested. I will just split my expenditure types between my two cards.

jonesMUFCforever · 28 May 2018 at 9:49PM

msallen wrote: »

Some people really do exhibit all the attributes of the standard classification of an IQ between 50 & 69 don't they?

Me thinks you 'r way too high a figure there:D

chattychappy · 29 May 2018 at 9:25AM

Lebene wrote: »

Once again because I was too comfortable with my Chinese bank's system

Would that be naked loans?

:D:D

Sncjw · 29 May 2018 at 12:42PM

You say you had enough money on the card to spend on it. But you went over the limit. clearly you didn’t have enough. You say that you don’t use the card to 100% bit you have done twice now. Spending near the limit will result in this happening. That’s why people advise you to not spend near the limit to give yourself a buffer.

You keep talking about China and the USA. Well your in the UK not China. You need to understand the way credit cards work here. It will have said in the t and c when you got the card that if you go over the limit then you will have fees to pay.

You say you don’t want an increase but of course you do. You say you want a card between £500-£1000. To me that’s an increase from your £500 card. You have gone over the limit twice and if you apply to another credit card company I would imagine they might not look favourably at you for having gone over the limit.

What is your income. There must be a reason why your limit is so low.

Credit Card Limit

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