New Barclaycard Credit Limit
WillPS
Posts: 3,433 Forumite
I've currently got the following cards -
I've applied for the Barclaycard Hilton HHonors card this week, again purely for the sign up bonus. My current intention is to spend the £750 to get the free night and then either ditch it completely or let it stay dormant.
To my surprise, I've been offered a huge £6k credit limit. I have absolutely no intention of spending that much (and plenty of much better cards to spend it on if I did) - so my question is should I immediately request a credit limit decrease? With that new card I'd have over half my salary in credit limit. Or would such a massive amount of unused credit reflect well on me?
Also, should I start pruning some of the newer cards (like the MBNA one) which I have no intention of using? I intend to buy a house in around 14 months time.
- Natwest Student - £500 limit, not used regularly for years (just put the occasional banana on it to keep it alive for the long account history)
- Barclaycard Cashback - £3000 limit (was my daily card until about 18 months ago, keeping it alive for the account history and the offers they send out)
- Amex Plat Cashback - £3200 limit (my daily card, paid in full every month)
- Natwest Reward - £2100 limit (use daily where Amex not accepted, paid in full every month)
- Tesco Balance Transfer - £4000 limit, £2200 balance
- Halifax Balance Transfer - £4000 limit, £3400 balance
- Amex Plat Charge Card - took for an upgrade offer and will be cancelled as soon as I hit the anniversary (haven't been charged the fee yet) just keeping it open for the perks until then
- MBNA Virgin White - £1200 (no longer used, took for a sign up bonus which I achieved in Jan)
I've applied for the Barclaycard Hilton HHonors card this week, again purely for the sign up bonus. My current intention is to spend the £750 to get the free night and then either ditch it completely or let it stay dormant.
To my surprise, I've been offered a huge £6k credit limit. I have absolutely no intention of spending that much (and plenty of much better cards to spend it on if I did) - so my question is should I immediately request a credit limit decrease? With that new card I'd have over half my salary in credit limit. Or would such a massive amount of unused credit reflect well on me?
Also, should I start pruning some of the newer cards (like the MBNA one) which I have no intention of using? I intend to buy a house in around 14 months time.
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Comments
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lol,......0
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I have over double my salary as available credit. I don't hold a balance and pay in full every month. I've had most of the cards for offers and don't have any,issues getting new cards.0
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Cheers.lol,......
Thanks, it was more the mortgage application I was worrying about, do I need to be worried?I have over double my salary as available credit. I don't hold a balance and pay in full every month. I've had most of the cards for offers and don't have any,issues getting new cards.0 -
I don't know but, if I were a mortgage lender and saw that you could go on a £13000 spending spree if you threw a wobbler, I would crap myself.:rotfl:I came into this world with nothing and I've got most of it left.0
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Personally I'd ditch both your MBNA and American Express Charge Card-in terms of your HH Barclaycard (which I'm surprised you've been given as BC tend to decline second applications) it might be worth holding onto once you've earned your free night as they tend to send out 0% deals on both balance and money transfers from time to time.It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.0
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£6K is not a huge credit limit.0
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Personally I'd ditch both your MBNA and American Express Charge Card-in terms of your HH Barclaycard (which I'm surprised you've been given as BC tend to decline second applications) it might be worth holding onto once you've earned your free night as they tend to send out 0% deals on both balance and money transfers from time to time.
I've recently been given a second barclaycard, so it's not impossible.0 -
Regard the Hilton Barclaycard:
I posted this in the summer, but even when you were "allowed" only one Barclaycard, they confirmed that you would also be allowed a partner Card (e.g. Hilton ).
Now they removed any reference to not allowing a second card and I know someone that has just been given a second Barclaycard (both platinums).
The Amex Platinum Chargecard offer benefits that if used are extremely good, so not comparable.
If not used, I would ditch the MBNA Virgin and depending on how hold is your second older card, would also ditch the NatWest student card. I was in a similar position as I had a NatWest Duo card (originally the Air Miles scheme the. Moved to Lloyds TSB) from the time I had a student account with NatWest, but my Barclaycard was also few months younger, and as the NatWest never increased by credit limit, I decided to ditch them. As you use the NatWest reward, if you are going to close the student, when you call them ask them to close it but also transfer the £500 credit limit to your other card, many issuers allow this0 -
I've recently been given a second barclaycard, so it's not impossible.
Ah, I didn't know that, from what I've read on here some posters have made second applications and have subsequently been declined.
Sorry
It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.0
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