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    • arthur715
    • By arthur715 20th Mar 18, 4:20 PM
    • 22Posts
    • 3Thanks
    Refused Limit Increase But Won't Say Why
    • #1
    • 20th Mar 18, 4:20 PM
    Refused Limit Increase But Won't Say Why 20th Mar 18 at 4:20 PM
    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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    • zx81
    • By zx81 13th Apr 18, 9:08 PM
    • 19,669 Posts
    • 21,064 Thanks
    Not really.
    • Emily Joy
    • By Emily Joy 14th Apr 18, 8:51 AM
    • 193 Posts
    • 78 Thanks
    Emily Joy
    I would have thought that with this sort of spending plans Amex gold travel card should be a good option?

    If you are paying off every month in full any way?

    It is a charge card so there is no limit. With their introduction offer you will grab enough points for a return European flight. You will get a very good travel insurance and on a top of that business lounge access which could be handy
    • Fireflyaway
    • By Fireflyaway 14th Apr 18, 9:21 AM
    • 2,101 Posts
    • 2,435 Thanks
    This is a good thing, you just avoided getting in more debt! If you have the money for the holiday then use a debit card to book it. Debit card purchases are still protected under the charge back scheme of that's what you were trying to achieve. If you don't have the money then wait till you do....
    Lending isn't all down to credit score anyway. Could be income to debt ratio. I doubt a call centre will know the answer anyway. I asked my bank something yesterday and the guy on the phone didn't know for sure what the situation was.
    • PeacefulWaters
    • By PeacefulWaters 14th Apr 18, 9:45 AM
    • 8,318 Posts
    • 10,672 Thanks
    It is a charge card so there is no limit
    I'm not convinced AMEX will authorise a very large transaction in month one.
    • zx81
    • By zx81 14th Apr 18, 11:51 AM
    • 19,669 Posts
    • 21,064 Thanks

    Lending isn't all down to credit score anyway.
    Originally posted by Fireflyaway
    Or at all, for that matter.
    • Fireflyaway
    • By Fireflyaway 14th Apr 18, 12:00 PM
    • 2,101 Posts
    • 2,435 Thanks
    Or at all, for that matter.
    Originally posted by zx81
    But..... In some way they are. If you have a low score it might well be because the lenders are showing you that you don't have a good financial history and therefore don't want to lend to you. Scores do reflect your history.

    Yep, a very wealthy person might have a low score because they just don't have a credit history but that doesn't apply to the masses does it.

    My scores are really low. That's because I have defaults and late payments and my card is maxed out. My husband has none of the above but a much better score. It does mean something.
    Last edited by Fireflyaway; 14-04-2018 at 12:02 PM. Reason: T
    • zx81
    • By zx81 14th Apr 18, 12:55 PM
    • 19,669 Posts
    • 21,064 Thanks
    But equally you can have a high score and be bankrupt and a low score because you have paid off debts.

    The scores are too unreliable to have any meaning, which is why they are not used, except for entertainment purposes, much like horoscopes or a magic 8 ball.

    They mean nothing.
    • nic_c
    • By nic_c 15th Apr 18, 8:41 AM
    • 1,856 Posts
    • 967 Thanks
    True, which is why we get so many "my experian score is 999 why have I been rejected", or moaning that their score has dropped because they've cleared debt etc.

    The "score" debate will be eternal though fueled by new members coming on to find out more and been met by tired commentators saying "ignore your score its meaningless" whilst others rebuff it pointing to those with poorer credit histories will generally have poorer scores, etc

    Still it keeps me from doing chores around the house, until the missus gently reminds me I've been on my computer for the last few hours and X still hasn't been done.
    • chattychappy
    • By chattychappy 15th Apr 18, 10:38 AM
    • 6,964 Posts
    • 3,802 Thanks
    I'm not convinced AMEX will authorise a very large transaction in month one.
    Originally posted by PeacefulWaters
    No they won't. They used to say "we have no pre-set spending limit". I remember when I first got Amex Plat in the 90s, I had this oily chap phone me up to introduce himself as my account manager. He tried to winkle out of me how much I intended to spend over the next few weeks and was trying to warn me (in a roundabout sort of way) that I could spend no more than a certain amount, but at the same time wouldn't tell me what that amount was. They also I suggested I phoned them ahead of making any large or unusual transactions to ensure that things go "smoothly" at the point of sale.

    Anyway, back to the OP. I have some sympathy. I don't buy the "commercial sensitivity" argument about revealing reasons for their decision in a one-off case such as this. We also know from other posts that CCs have, on occasion, told people why they were declined for credit. Happened to me many years ago too. I think they just don't want to get into debates or say something that will upset their customers or make it easier to bring allegations of ageism, unfair practices or whatever.

    BTW under the exising DPA, you have the right to have an automated decision reconsidered manually.
    Last edited by chattychappy; 15-04-2018 at 11:12 AM.
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