Aqua latest increase!

Options
1356

Comments

  • AllieKat
    AllieKat Posts: 109 Forumite
    Options
    Credit *limits* are just that. Limits. Not minimums! Higher limits are almost always better. They do not mean you have to spend it!

    Someone already pointed out car rental holds. Fuel holds, hotel holds, etc can use up thousands in limits without borrowing a penny.

    The flexibility of high credit limits is enormously beneficial, and they can make your credit report be scored more favourably by lenders (since your utilisation drops).
  • Samsung_Note2
    Samsung_Note2 Posts: 774 Forumite
    Options
    AllieKat wrote: »
    Credit *limits* are just that. Limits. Not minimums! Higher limits are almost always better. They do not mean you have to spend it!

    Someone already pointed out car rental holds. Fuel holds, hotel holds, etc can use up thousands in limits without borrowing a penny.

    The flexibility of high credit limits is enormously beneficial, and they can make your credit report be scored more favourably by lenders (since your utilisation drops).

    Indeed they can..but dont fall into the trap of one old boy i used to know,he spent thousands on Prostitues...even worse than spending thousands on horizontal refershment without his wife knowing was he was withdrawing the thousnads of pounds via cash points,so paying about the most you could.:rotfl:

    Sadly its a true story...:(
  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
    Options
    Just be really careful that they don't raise your interest rate by 5% once you hit the 1.6k limit mark (speaks from experience). I've cleared mine off and will cancel it, but just be wary.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Options
    If you're using it correctly and not carrying a balance then it won't matter
  • Dandytf
    Dandytf Posts: 4,820 Forumite
    First Anniversary Name Dropper First Post
    Options
    dazzaofdagenham wrote: »
    Aqua have again increased my limit......twice in a year.

    From 900 to 1800........and today got a letter increasing limit to 2800.

    No iPhone here though

    2 limit increases-that's Gold IPhone X range :)
    Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb
  • Dandytf
    Dandytf Posts: 4,820 Forumite
    First Anniversary Name Dropper First Post
    Options
    CakeCrusader wrote: »
    Just be really careful that they don't raise your interest rate by 5% once you hit the 1.6k limit mark (speaks from experience). I've cleared mine off and will cancel it, but just be wary.

    I hope not- I'm honestly moving into a No CC spending few months at least-hopefully.
    I personally haven't experienced any apr rises since 2010+ pre unemployment in 2011.
    I understand CC providers aren't slow on turning the screw.
    5% increase that's 'ouch' did you miss any payments during that time
    Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb
  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
    Options
    Dandytf wrote: »
    I hope not- I'm honestly moving into a No CC spending few months at least-hopefully.
    I personally haven't experienced any apr rises since 2010+ pre unemployment in 2011.
    I understand CC providers aren't slow on turning the screw.
    5% increase that's 'ouch' did you miss any payments during that time

    Nope, no missed payments at all. I didn't get it either. It started off with a limit of 600, they increased it to 1650 in August last year, no more increases but they put the interest rate up. I've never missed a payment, I've never gone over my limit, I always pay off far more than the minimum balance. Weird. I've cleared it off now and I'll cancel it as soon as I've cleared off any remaining interest.
  • Dandytf
    Dandytf Posts: 4,820 Forumite
    First Anniversary Name Dropper First Post
    Options
    Since 24th March Aqua increase on one of 2 cards
    Today I received letter from Aqua as my 2nd card limit is being raised from 1650 to 2650
    1k rise I!!!8217;m in shock and no I haven!!!8217;t been paying in full though as mentioned recently on another mse thread I did sort my DD!!!8217;s for most CC!!!8217;s to above Min payment aiming to clear most cards over 3 yrs if possible.
    Slightly off topic I have 2 Cap 1 cards which I need to raise thos DD!!!8217;s as soon possible maybe late 2018 or early 2019.
    Either way considering I!!!8217;ve been part time past year at work-it doesn!!!8217;t stop temptation to use credit cards considering the pace and limit allowance these providers allow.
    Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb
  • A4445
    A4445 Posts: 1,103 Forumite
    Options
    I had a letter from Amex today increasing my limit by 5k I nearly fell over. I’ve spent quite a bit recently paid a 4K holiday for cashback. It’s always paid in full tho!
  • Dandytf
    Dandytf Posts: 4,820 Forumite
    First Anniversary Name Dropper First Post
    Options
    A4445 wrote: »
    I had a letter from Amex today increasing my limit by 5k I nearly fell over. I’ve spent quite a bit recently paid a 4K holiday for cashback. It’s always paid in full tho!

    @A4445-enjoy your 5k increase.
    Can you please ember the !!!! Fix on mac or ios devices.
    I forgot if it was auto type correction or another feature which needs switched off
    Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards