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Unable to increase credit limit - am I missing something?

12 replies

shamelesslyname · Yesterday 19:45

I’ve had my Barclays Forward credit card since 2020 and use it regularly. It currently has a £50 limit, which I’ve mostly used for petrol and other small purchases. I’m trying to either increase it or change to a better credit card with Barclays, but I’m getting nowhere.

I’ve been trying for quite a while on the app, then went into the bank in early July, where they said some details needed updating which might help, which I did. I went in again last week and they said they were baffled as to why I couldn’t increase it, as I have a fantastic account, a mortgage indicator on my account and am eligible for a £23k loan??

I earn just over £34k and have a credit score of 755, with no debts, mortgage, other loans etc. My salary goes into my Barclays current account, which I’ve had for 8+ years. It’s my first credit card (have opened one other since), so I’m not sure if I’m missing something here?? I am conscious there might be something on my credit score I am unaware of, not that I can see anything when looking though, or if it’s just common for some banks to refuse increases regardless?

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jhonni · Today 00:20

holachicatita · Yesterday 21:14

You're easily scared!

Definitely, which is why I have no loans apart from a mortgage 😅 Can't imagine having one on top of my mortgage that is basically the same as my take home pay for a year.

caringcarer · Yesterday 22:38

Capital 1 are always trying to raise my credit limit. I tell them no, leave it where it is but they regularly try to increase it. Try to get a Capital 1 credit card. If you get close then other one.

SleeplessRoads · Yesterday 21:15

It’s a credit builder credit card with a maximum limit of £1,200. If you’ve had it for years and been paying it off, it’s time to close it and get another card - it wasn’t ever designed to be a primary spending credit card.

holachicatita · Yesterday 21:14

jhonni · Yesterday 21:07

Not the point of the thread but the idea of a 23k loan for someone on 34k a year before tax is terrifying!

You're easily scared!

MustTryHarderAndHarder · Yesterday 21:12

I've had a Santander current account for over 20 years and have had no issues with it and have had Santander credit cards in the past but now they won't give me a interest-free credit card whereas other banks will.

I have no idea why as my accredit rating is very good so I have just giving up trying.

jhonni · Yesterday 21:07

Not the point of the thread but the idea of a 23k loan for someone on 34k a year before tax is terrifying!

Bjorkdidit · Yesterday 21:05

Look on Moneysavingexpert.com for suggestions of other credit builder cards, eg Aqua or another one I can't remember. A £50 limit is useless, even if you pay it off every month, you can only spend under £25 a month so you don't breach the limit.

SucksToBeYou · Yesterday 21:05

The fact that you keep trying to increase the limit and getting rejected wont help your credit score. Leave it for 3-6 months, then apply for a standard card with Capital One. Dont close this card beforehand.

LordEmsworth · Yesterday 20:11

The Barclays Forward card is meant for people building their credit score. After 6 years - you have a credit score... you should be looking for a different card, and close this one down!

RaininSummer · Yesterday 20:11

50 pounds limit is crackers

Pearlstillsinging · Yesterday 20:08

Just apply for a CC with a different bank. £50transaction limit is no use to anyone, these days. It costs more than that to fill up the car.

Bromptotoo · Yesterday 20:03

If Barclays will not meet your needs then cast your net wider.