Barclaycard Credit Limits

[Deleted member 6183]

Anyone else remember the days of interest free (or cheap) credit cards and offset mortgages?

A happy combination for some.

 

[baxlin]

Dunno really, never had to use a credit card in the last 15 years. Just keep one as an emergency card now.

I do just the opposite: We use CC for as much as possible, it's M&S, so everything we spend wherever gives us M&S loyalty points. It's amazing how much we get in coupons. It's paid off in full every month, so costs us nowt, and it's so convenient.

 

[PXW]

I have a number of cards. Historically I travelled a lot on business. Our company card at the time was Diners, which we were assured was accepted by 98% of the places company travellers visited. But I (and most of my colleagues, it seems) regularly used the other 2%! So I wanted full coverage, and also the ability/comfort that if I ever really needed to get back in a hurry I could just go to the airport and buy any ticket to any destination in any class (could always expense it later). So I got a barclaycard and a dual MasterCard/Amex, each with a 12-14k limit. Still got them, though to be honest I don't have the same need anymore.

I do have a different credit card that I use extensively - I put all my online purchases on it, which includes hotels several times a month - but it's cleared by direct debit each month so no interest cost. I just don't want to expose my main current account/debit card details to the web, plus I get better consumer protection with a credit card.

 

[markmifsud]

I buy almost everything on credit card, paying the full amount owed each month of course. I prefer to use the card for purchases as you get better protection for all purchases. A recent incident using Paypal as an example. Paypal said that there normal protection could not cover me for a refund, so a quick call to Barclaycard and two weeks later the funds were reversed.

 

[spinaltap]

For convenience, I solely use credit cards for routine transactions (as some accumulate real-money vouchers) and then pay-off the full amount owed monthly. I have 3 such credit cards.

Over time, each credit card provider had incrementally increased my credit limit on each card. I ignored this as I always paid-off the full amount owed each month.

Then, Apple were offering 10 months 0% credit when I wanted an unlocked iPhone. Why? Because I prefer to use someone else's money when spending several hundred pounds.

I already knew from my bank that I had an A-1 credit rating so I had no hesitation in applying for the 0% interest deal online.

To my surprise my application was refused.

I ran an Experian credit report to identify where the problem might reside. Unsurprisingly, a perfect credit score was reported.

However, on further investigation with Experian, it emerged that I had too much credit at my disposal - even though I never made use of it. By allowing the credit card companies to incrementally increase my credit limit had inadvertantly caused a negative impact on my ability to use 0% interest plans.

The remedy was to instruct each and every credit card company to substantively reduce the credit limit on each card.

Suffice to say I paid cash for my unlocked iPhone.

 

[Bobby Dazzler]

I'm another one who pays for anything and everything on credit card. Maximum buyer protection and maximum incentives.

 

[gIzzE]

I do just the opposite: We use CC for as much as possible, it's M&S, so everything we spend wherever gives us M&S loyalty points. It's amazing how much we get in coupons. It's paid off in full every month, so costs us nowt, and it's so convenient.

I'm the same, I have just booked 10 flights with the points I have accumulated since last year on my NatWest card.
Just want Natwest to link up with a car hire firm as well so I can save another £500 or so each holiday.

However, on further investigation with Experian, it emerged that I had too much credit at my disposal - even though I never made use of it. By allowing the credit card companies to incrementally increase my credit limit had inadvertantly caused a negative impact on my ability to use 0% interest plans.

Annoyingly I had a credit score of 990 when I last looked a few months back, but I got a notice to say my credit history had changed so I logged in, forgot I had swapped my daughter phone to Three, so that was the change. However, I was shocked to see my credit score is now in the 700's and near the LOW section!
It says I have far too much credit available, and looking at my cards I do have nearly £100,000 worth or credit available on cards alone. Two of the cards I had asked them to close the account ages ago, but they haven't, which is a bit naughty, especially as one is MBNA with a £24,000 limit.