Decreased credit card limit
Discussion
cuprabob said:
Alucidnation said:
Not sure of the point in having a credit card and clearing it at the end of the month.
Although not as lucrative as it once was, some cards have cashback plus you get Section 75 protectionin certain cases.Not sure what anyone would not be using a credit card as their main card!
Alucidnation said:
Not sure of the point in having a credit card and clearing it at the end of the month.
Debit card is all i have ever had and hasn’t affected my credit score from not having one.
Extra layer of protection, and all sorts of bonuses if you do? I got £300 back in cashback from mine last year, it is free money. Debit card is all i have ever had and hasn’t affected my credit score from not having one.
Frankly, you would be daft not to if you can.
servantleader said:
Alucidnation said:
Not sure of the point in having a credit card and clearing it at the end of the month.
Debit card is all i have ever had and hasn’t affected my credit score from not having one.
I remember as a teenager watching a family get turned away from the car hire rental desk on holiday because neither of the adults had a credit card with them...Debit card is all i have ever had and hasn’t affected my credit score from not having one.
Ian350 said:
I could be wrong but I think there is a fixed limit to how much credit such institutions can offer in total to all of their customers. Your credit limit is what they have offered you so if they are approaching their limit they won't be able to offer credit to new customers without clawing some back from existing customers. Taking it from people who don't use all of their facility is a good option.
Its this mostly, as they have to allocate capital to cover it as if you used the whole amount, even if you actually haven't, as you could max it at any time, hence if you don't use it, they re allocate it. Barclays withdrew my entire card a while back, but then started sending me pre approved credit card applications within months !!craig1912 said:
Not really, a credit card makes it much easier to hire a car - not sure why he asked your age 
The only reason when I first got a credit card was this, debit cards were fine in Spain but pretty much anywhere else wanted a credit card or a hefty extra insurance premium. 
craig1912 said:
emicen said:
Also reward points / airmiles and emergency back up in case you need it.
This- using 140000 miles this summer to fly Havana- Atlanta- New York- London, first class other than return home which is premium. Roughly £1200 for three people. Put everything on credit card fir the protection and miles.I maxed mine out for a kitchen not realising I went over when buying a cooker hood separate, only used it for extra protection etc. No charge, i paid it off at end of month but a letter came doubling my credit limit to a point if I ever used no chance I could pay it back. Crazy how easy it is to get into big debt and trouble.
unident said:
I really struggle to understand why people are so obsessed with their credit score. It feels like snake oil to me.
To be a good risk all you really need to do is make sure you don’t borrow lots, pay any loans / mortgages on time, pay off your credit card in full each month, stay on the electoral register and try to keep current accounts open for a long time rather than chopping and changing.
What random number each agency assigns to you is irrelevant to most lenders as they have their own method of evaluating how good or bad a risk you are to them and how much they want to lend if you ask for credit. If you’re not planning on getting any form of credit then it’s a complete load of b
ks worrying about it.
They don't 'have their own method' quite. They generally use the agencies such as Experian when making a decision to provide the credit check, but yes, I believe the actual number is a bit meaningless. My Mum used to work for UATP which was an agency and basically they provide a report to the lender. If you get refused you have to ask for the report as it might be a simple thing that the particular lender doesn't like.To be a good risk all you really need to do is make sure you don’t borrow lots, pay any loans / mortgages on time, pay off your credit card in full each month, stay on the electoral register and try to keep current accounts open for a long time rather than chopping and changing.
What random number each agency assigns to you is irrelevant to most lenders as they have their own method of evaluating how good or bad a risk you are to them and how much they want to lend if you ask for credit. If you’re not planning on getting any form of credit then it’s a complete load of b
ks worrying about it. Name spelling seems to be one of the easiest cock ups. Our youngest could not get a phone, I told him to use the full spelling of his name rather than the shortened version (what a prat) and he was surprised when it failed. Daft thing is, when we got his full credit report from Experian, even though it wasn't his actual name, and they denied the 'credit' because the name didn't match, the rejection still appeared on his report against his full name.
As such, I think only the full reports have any real meaning and then really as a device to find out the reason for rejection.
Swern1 said:
Ahh understood.
So in real world speak “premium economy “
At the risk of being pedantic .... nope Premium. Virgin classes are Economy, Premium and Upper ClassSo in real world speak “premium economy “
https://flywith.virginatlantic.com/gb/en/on-the-fl...
craig1912 said:
Swern1 said:
Ahh understood.
So in real world speak “premium economy “
At the risk of being pedantic .... nope Premium. Virgin classes are Economy, Premium and Upper ClassSo in real world speak “premium economy “
https://flywith.virginatlantic.com/gb/en/on-the-fl...
Swern1 said:
Doesn’t matter, but I meant the delta flights.
It does seem that they have dropped “premium economy “, now premium. Don’t mind, still for me fine.
I put everything on Amex and only paid the “tax” for years. Usually two seats in the summer and two in the winter, bit naughty as did two more this February. If I have enough will do UC. Got this summer and winter booked already with points.
I do have a visa for the odd occasion Amex is no go. Used it for a rare UK payment and immediately got the credit doubled !
I had the same issue with Halifax, started off with £1000 then rose to £1600, £2400 and I never really used much out of it. Mainly used it for food shopping and vehicle maintenance.
They have now reduced me down to £1050 after a 9 monthly review they do. Probably because I don't exceed 1k they make it more manageable for me but my credit score hasn't seemed to differ.
They have now reduced me down to £1050 after a 9 monthly review they do. Probably because I don't exceed 1k they make it more manageable for me but my credit score hasn't seemed to differ.
Gassing Station | Finance | Top of Page | What's New | My Stuff