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What's your age and credit card limit(s)? Watch

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    (Original post by de_monies)
    Sorry?
    I need 2 DDs for Club Lloyds and this is one of them!
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    (Original post by a729)
    I need 2 DDs for Club Lloyds and this is one of them!
    Ah I intend to open two saving accounts:

    Principality Building society e-saver
    Tesco e-saver

    Supposedly both allow multiple direct debits

    ie: I could use both direct debits at 1p/month for both Lloyds and Halifax

    I also have a charity direct debit of £2/month, so if a bank asks, Ill just move that there. Giving 1p/month to charity is just cruel (IT costs them to process it)
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    (Original post by a729)
    I assume you have the Flexdirect or Flexplus account as well?
    Yeah I have a Flexdirect account to take advantage of the 5% interest rate.


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    (Original post by de_monies)
    Wow. Thats a decent limit! I wonder if I could perhaps up my limit to £2500
    Yeah it is good, though my balance has never gone above 1200 as I pay it off every month, so no real reason to have that limit, just what was initially offered.


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    (Original post by hughsey)
    Yeah it is good, though my balance has never gone above 1200 as I pay it off every month, so no real reason to have that limit, just what was initially offered.


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    There is a very real need for that limit. In fact, I'd want more. I try to keep credit utilisation at around 33% or less, so if youre spending £1200, Id want around a £3600 limit (overall)

    I spend around £500/month I think, so my credit utilisation is pretty low
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    (Original post by hughsey)
    Yeah I have a Flexdirect account to take advantage of the 5% interest rate.


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    I think Im probably going to get one of those as well. But you can only have it for a year, so Im going to keep some money in Club Lloyds as well (hopefully)
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    24

    barclaycard £7,500
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    (Original post by de_monies)
    There is a very real need for that limit. In fact, I'd want more. I try to keep credit utilisation at around 33% or less, so if youre spending £1200, Id want around a £3600 limit (overall)

    I spend around £500/month I think, so my credit utilisation is pretty low
    I would agree with this although my utlitisation is a lot more at around the 50% mark across all markets with the most being thrown on the HSBC Business MasterCard (HK$2 for each HK$250 spent abroad ), I would say that out of the amount I clear each year 40% is on the HSBC Business MasterCard, 15% is on the Starwood and the rest is split pretty equally across the American Express and Etihad cards depending on usage (the Platinum is also used for business purposes).

    It's more than 33% but it's better than most chumps that use credit to 100% and wonder why they can't get more
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    (Original post by tehFrance)
    I would agree with this although my utlitisation is a lot more at around the 50% mark across all markets with the most being thrown on the HSBC Business MasterCard (HK$2 for each HK$250 spent abroad ), I would say that out of the amount I clear each year 40% is on the HSBC Business MasterCard, 15% is on the Starwood and the rest is split pretty equally across the American Express and Etihad cards depending on usage (the Platinum is also used for business purposes).

    It's more than 33% but it's better than most chumps that use credit to 100% and wonder why they can't get more
    To be fair with your first CC it initially makes sense to use up a high % of credit and pay it back on time. That normally leads to an credit limit increase within 6 months.

    Still with 0% CCs it's hard not to stooze a lot lol!
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    (Original post by a729)
    To be fair with your first CC it initially makes sense to use up a high % of credit and pay it back on time. That normally leads to an credit limit increase within 6 months.

    Still with 0% CCs it's hard not to stooze a lot lol!
    While that may be the case, most people get cards with high APRs and as such shouldn't max out their credit at first unless they can pay back the majority each month (or better yet in full).

    What's stoozing?
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    (Original post by tehFrance)
    While that may be the case, most people get cards with high APRs and as such shouldn't max out their credit at first unless they can pay back the majority each month (or better yet in full).

    What's stoozing?
    Well the best way to use a CC that isn't 0% is like it's a debit card and clear it in full each month.

    Stoozing is borrowing at 0% interest - e.g 0% OD or 0% CCs and putting the money into a high interest savings account or current account nowadays!
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    (Original post by a729)
    How did you get such a high limit with Aqua?!
    They gave me a £250 limit to start with, I set up a direct debit to pay it all off every month and within 3 months they increased it to £750. I didn't really change my spending habits and kept paying the full amount on time and they recently increased it again to £1800.
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    Got some update on my cards

    Old cards:
    Cap1 Classic Extra: £500
    Nationwide Select: £2000

    New cards:
    Capital One Classic Extra: £1500 (the maximum limit) - it's funny that they never gave me a better limit before...
    Asda money credit card: £1000 (Approved today), though the APR is 29.9%, instead of 14.9%

    I basically have around a 5K limit atm

    With cap 1 and Asda, I exploited the fact that Im on placement. Instead of writing that Im a "student" I put in the wage, that my employer gives me, and put down Im working full time, which I am (Just only for another 2 months )

    I'd get the Santander 123 credit card, instead of the Asda card (And I have £1250/month going in/out at the very least out of my Santander 123 current account), so I should get a good rate

    Any way, I don't drive enough or get enough trains for the 123 card to be worth the expense

    Im in two minds whether to get rid of my old capital one card...

    I might also reduce the limit on my Asda card, because who the hell spends £1000/month at Asda? (Or perhaps keep it, get a better rate, and get rid of another account) Atm, I dont see the need to use the card any where BUT Asda
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    19 - capital one £450
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    (Original post by de_monies)
    Got some update on my cards

    Old cards:
    Cap1 Classic Extra: £500
    Nationwide Select: £2000

    New cards:
    Capital One Classic Extra: £1500 (the maximum limit) - it's funny that they never gave me a better limit before...
    Asda money credit card: £1000 (Approved today), though the APR is 29.9%, instead of 14.9%

    I basically have around a 5K limit atm

    With cap 1 and Asda, I exploited the fact that Im on placement. Instead of writing that Im a "student" I put in the wage, that my employer gives me, and put down Im working full time, which I am (Just only for another 2 months )

    I'd get the Santander 123 credit card, instead of the Asda card (And I have £1250/month going in/out at the very least out of my Santander 123 current account), so I should get a good rate

    Any way, I don't drive enough or get enough trains for the 123 card to be worth the expense

    Im in two minds whether to get rid of my old capital one card...

    I might also reduce the limit on my Asda card, because who the hell spends £1000/month at Asda? (Or perhaps keep it, get a better rate, and get rid of another account) Atm, I dont see the need to use the card any where BUT Asda
    Why did you bother getting the Cap 1? You have 0% abroad with the Select, and the cashback is covered by both the select and the Asda Money card. Plus I'm assuming it's the worst rate out of the lot as well.


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    (Original post by Alarae)
    Why did you bother getting the Cap 1? You have 0% abroad with the Select, and the cashback is covered by both the select and the Asda Money card. Plus I'm assuming it's the worst rate out of the lot as well.


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    So that I have a mastercard available to use. Im actually thinking of getting rid of the Nationwide card, and the old Capital one card, because I have a Norwich & Peterborough debit card (Visa) for overseas use, and I also have a mastercard credit card with Cap one, giving me favourable rates

    Mastercard tend to give EVER so slightly better exchange rates than Visa it seems. APR doesn't bother me at all. Both my nationwide, and my very latest Capital one card are fee free to use abroad

    I guess the other thing is building up some history with cap one, so that I can get some of their better cards in the future

    I have £5000 available to me at the moment. I can't see Capital One giving me ANY more money than I already have, because it's the max limit, Asda might, and Nationwide might

    If I get rid of my old Capital one card, and my nationwide account, Id have £2500 credit, which isn't too bad I guess
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    (Original post by de_monies)
    Old cards:
    Cap1 Classic Extra: £500
    Nationwide Select: £2000

    New cards:
    Capital One Classic Extra: £1500 (the maximum limit) - it's funny that they never gave me a better limit before...
    Asda money credit card: £1000 (Approved today), though the APR is 29.9%, instead of 14.9%
    Why did you get another Classic Extra? You should have tried for the Aspire which I believe is the only World MasterCard that's accessible to the general public in the UK without Private Banking (NatWest and RBS are the only banks in the UK that offer it to private customers).

    Do you aim for exclusive cards or is it rewards? Go for the AMEX Platinum if you can, I know a charge card but if you clear credit cards monthly already then it's not a huge leap.

    Seeing as we're updating, I too got a new card, Ritz-Carlton Rewards Card which is allegedly similar to the JP Morgan Palladium which requires $2m in liquid assets to be considered. I was surprised to get it especially as I was using an ITIN, BSing my income and I'm not a US resident. Also it's made of metal and I'm tempted to also apply for the Chase Sapphire if I'm apply to attain US credit
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    (Original post by tehFrance)
    Why did you get another Classic Extra? You should have tried for the Aspire which I believe is the only World MasterCard that's accessible to the general public in the UK without Private Banking (NatWest and RBS are the only banks in the UK that offer it to private customers).

    Do you aim for exclusive cards or is it rewards? Go for the AMEX Platinum if you can, I know a charge card but if you clear credit cards monthly already then it's not a huge leap.

    Seeing as we're updating, I too got a new card, Ritz-Carlton Rewards Card which is allegedly similar to the JP Morgan Palladium which requires $2m in liquid assets to be considered. I was surprised to get it especially as I was using an ITIN, BSing my income and I'm not a US resident. Also it's made of metal and I'm tempted to also apply for the Chase Sapphire if I'm apply to attain US credit
    Well, what I wanted was the no fee for foreign exchange rates thing that Capital one have introduced recently, and I was advised that I can not get that with my current card, however I CAN get it, if I apply for another card. And I did - and I said Im working full time, which I am, for a little longer

    I can't get the aspire - Id like to! But I cant, and even if I could get it, I dont think it'd be worth the money for me ie: £120/year would wipe out any money I want to make from it

    I also can't get the Amex Platinum, because I dont earn 20K or above. If I had a real salary, then Id probably go for the Amex Platinum, or at the very least the Amex everyday card - I tend to use my card on PayPal and supermarkets a LOT - and Im happy that Amex does PayPal and supermarkets - Amex is one for the future perhaps

    - For a charge card, I also don't spend enough money per month to warrant getting the Santander 123 card. IF I could make at least £85/month on fuel/petrol, the Santander 123 card would JUST be worth it ie:

    85*12 = £1020
    1020*0.03 = £30.60

    £30.60 - £24 = £6.60

    £6.60/£1020 = 0.0064705882352941, giving 0.64% cashback overall)

    I simply do not spend that amount every month. If I did, then yes, it'd be good, but I dont spend that amount and most of my supermarket shopping is at Asda any way
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    (Original post by de_monies)
    Well, what I wanted was the no fee for foreign exchange rates thing that Capital one have introduced recently, and I was advised that I can not get that with my current card, however I CAN get it, if I apply for another card. And I did - and I said Im working full time, which I am, for a little longer

    I can't get the aspire - Id like to! But I cant, and even if I could get it, I dont think it'd be worth the money for me ie: £120/year would wipe out any money I want to make from it

    I also can't get the Amex Platinum, because I dont earn 20K or above. If I had a real salary, then Id probably go for the Amex Platinum, or at the very least the Amex everyday card - I tend to use my card on PayPal and supermarkets a LOT - and Im happy that Amex does PayPal and supermarkets
    I suppose that's useful

    You can, don't you transfer money between accounts to hit a minimum amount credited each month? I for example transfer my money enough times to make it look I'm on a £80,000pa salary (the Etihad card had deposit minimums with ADCB rather than a salary requirement)... I'm currently not and with the business actually losing money (for now) but it's the illusion that'll get you the credit cards you want and deserve
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    (Original post by tehFrance)
    I suppose that's useful

    You can, don't you transfer money between accounts to hit a minimum amount credited each month? I for example transfer my money enough times to make it look I'm on a £80,000pa salary (the Etihad card had deposit minimums with ADCB rather than a salary requirement)... I'm currently not and with the business actually losing money (for now) but it's the illusion that'll get you the credit cards you want and deserve
    VERY! I find that MasterCard on average tend to give better rates than visa do - ever so marginally though

    and its not just the whole "using your account abroad" thing but also getting better value for money when buying in non sterling currencies over the net (Which already tend to be better value)

    I do which is probably why Santander and Lloyds think I'm rich, and why Barclays thinks I'm not so rich (Always offering a ****ty card through the post to me) - I don't transfer a lot with barclays I guess but I do with Santander and I did with Lloyds (though that will change soon. I'll soon be transferring a lot more in there)

    I'd like an amex everyday account however I don't feel like writing that I have a wage of £20,000

    if amex had a bank I'd be comfortable with tra sferring 2K in/out for a while to "prove" I earn 20K and put my salary as the real amount (My current salary decreased dramatically in 2 months but I didn't lie to capital one when I told them my salary)
    BTW I did an edit
 
 
 
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