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

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    (Original post by de_monies)

    - 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
    First year is free with the 123 Current account! Plus there's 1% cashback on supermarket spending

    Plus 18 months 0% so I'll be stoozing and using the interest to offset the card fee for my 2nd year of using the card
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    (Original post by a729)
    First year is free with the 123 Current account! Plus there's 1% cashback on supermarket spending
    I know that, but it's like after the second year, it isn't free...
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    (Original post by de_monies)
    I know that, but it's like after the second year, it isn't free...
    Well the stoozing and cashback - I'm a Londoner who uses TfL services a lot! The cashback will pay off- should do so for many.

    Still there's nothing wrong with only having the card for a year!
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    (Original post by a729)
    Well the stoozing and cashback - I'm a Londoner who uses TfL services a lot! The cashback will pay off- should do so for many.

    Still there's nothing wrong with only having the card for a year!
    What I think I might do is:

    Use the Asda money card, to do all my Asda shopping, which is where I do most of my supermarket spending
    Cancel nationwide
    Use the old cap 1 card for fuel/trains (ie: to gauge exactly how much Im spending, instead of just guessing)
    Use the new cap 1 card for every thing else

    Honestly, because of where I am atm, I simply do not spend enough to warrant having a Santander 123 credit card. Once, I spend enough on trains/fuel, I'll probably get rid of my Asda and old Capital one card, and get a Santander 123 card, who should give me a decent limit, because of the amount of money being pushed through

    ^ That makes me sound rich/arrogant. I don't actually £15,000/year in my account(And even then 15K isn't "much"). I just make it up, in small-ish chunks, and it looks like I have 15K coming in/out, on top of my current salary/student finance

    If I get a TSB, Halifax reward and Club Lloyds account, Santander would think Im pushing a further £36,000/year (Money I dont have, but Id give the illusion of having the amount), I SHOULD get a decent limit, because at 22/23, Id be "earning" around £4250/month or £51000/year as far as Santander is concerned
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    A credit card hasn't even crossed my mind until I saw this thread! But thinking about it, I could do with one! How does the application procedure work? Should I apply with the bank I use for my current account? Also, do they look into current spending habits etc?
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    (Original post by de_monies)
    Use the Asda money card, to do all my Asda shopping, which is where I do most of my supermarket spending
    Cancel nationwide
    Use the old cap 1 card for fuel/trains (ie: to gauge exactly how much Im spending, instead of just guessing)
    Use the new cap 1 card for every thing else

    Honestly, because of where I am atm, I simply do not spend enough to warrant having a Santander 123 credit card. Once, I spend enough on trains/fuel, I'll probably get rid of my Asda and old Capital one card, and get a Santander 123 card, who should give me a decent limit, because of the amount of money being pushed through

    ^ That makes me sound rich/arrogant.
    That in no way makes you sound rich or arrogant, it makes you sound poor and thrifty. You shop at ASDA and can't tell how much you spend on fuel or trains without another card, you're fiscally irresponsible at the same time
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    (Original post by tehFrance)
    That in no way makes you sound rich or arrogant, it makes you sound poor and thrifty. You shop at ASDA and can't tell how much you spend on fuel or trains without another card, you're fiscally irresponsible at the same time
    lol I don't think I'm "poor" but neither am I rich. well its more to gauge exactly how much I spend as opposed to intelligent guessing

    I think I might get rid of the nationwide card though. it doesn't seem to serve me much purpose, what with a relatively good limit from capital one atm
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    (Original post by de_monies)
    lol I don't think I'm "poor" but neither am I rich. well its more to gauge exactly how much I spend as opposed to intelligent guessing

    I think I might get rid of the nationwide card though. it doesn't seem to serve me much purpose, what with a relatively good limit from capital one atm
    Don't you read your statements? Your statements tell you what you spend your money on, likewise receipts.

    £3k total limit is nothing, wait until you earn the big bucks and get limits from £10k to £100k per card credit has never been so easy
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    (Original post by tehFrance)
    Don't you read your statements? Your statements tell you what you spend your money on, likewise receipts.

    £3k total limit is nothing, wait until you earn the big bucks and get limits from £10k to £100k per card credit has never been so easy
    I do but I don't categorise in to what's what. No it isn't but Im happy with the credit utilisation rate I have atm and my relationships with most banks means I can get a decent limit from each bank. I mean my very first credit card, I got a 3K limit from Lloyds on a Lloyds platinum card when at the time you were meant to be earning £15,000 at least for that
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    (Original post by de_monies)
    I do but I don't categorise in to what's what. No it isn't but Im happy with the credit utilisation rate I have atm and my relationships with most banks means I can get a decent limit from each bank. I mean my very first credit card, I got a 3K limit from Lloyds on a Lloyds platinum card when at the time you were meant to be earning £15,000 at least for that
    That comes across as incredibly irresponsible and foolhardy.

    My first card was an AMEX Platinum... I think you're playing the game wrong as you're aiming for not a lot. I bank with ADCB (Excellency), Citi (Gold) and HSBC (Premier) for personal and Emirates NBD (UAE only) and HSBC (Worldwide) for business, my relationship with all of them is perfect, I don't get much from any of them although ADCB offers F1 packages for the Abu Dhabi GP that you can't get through general sale which is good

    Get Premium banking first then concentrate on the cards, get rewards and status cards more than cash back unless you really need cash back? You're trying to fool people into think you have the wealth yet you're not actually sending out those vibes correctly with cards from ASDA and Capital One (Aspire is the exception).
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    (Original post by tehFrance)
    That comes across as incredibly irresponsible and foolhardy.

    My first card was an AMEX Platinum... I think you're playing the game wrong as you're aiming for not a lot. I bank with ADCB (Excellency), Citi (Gold) and HSBC (Premier) for personal and Emirates NBD (UAE only) and HSBC (Worldwide) for business, my relationship with all of them is perfect, I don't get much from any of them although ADCB offers F1 packages for the Abu Dhabi GP that you can't get through general sale which is good

    Get Premium banking first then concentrate on the cards, get rewards and status cards more than cash back unless you really need cash back? You're trying to fool people into think you have the wealth yet you're not actually sending out those vibes correctly with cards from ASDA and Capital One (Aspire is the exception).
    See I'd love an amex card however I don't earn enough to get it. like I said if we had an amex bank or amex had a lesser card I'd be happy to build up some history with them and progress to a better card

    on credit searches they don't show the specific card you have but the company behind it

    I agree amex looks better than Asda but Asda isn't the easiest of cards to get wither. easy cards would be Luma and Asda

    I see no benefit to myself if I got premium banking and the two places I'd have premium banking. are Halifax of nationwide. I have a good relation with both these banks (well I need to upgrade my Halifax account because Halifax gave me a "basic" account. how dare they)

    besides theres only t-433 cards I'd want in place of my old capital one card and my Asda card

    those two are the amex cards,Halifax clarity (provided I only use it for the first £300 of spending each month, £5 cashback is around 1.6% cashback) and Santander 123
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    (Original post by de_monies)
    See I'd love an amex card however I don't earn enough to get it. like I said if we had an amex bank or amex had a lesser card I'd be happy to build up some history with them and progress to a better card

    on credit searches they don't show the specific card you have but the company behind it

    I agree amex looks better than Asda but Asda isn't the easiest of cards to get wither. easy cards would be Luma and Asda

    I see no benefit to myself if I got premium banking and the two places I'd have premium banking. are Halifax of nationwide. I have a good relation with both these banks (well I need to upgrade my Halifax account because Halifax gave me a "basic" account. how dare they)

    besides theres only t-433 cards I'd want in place of my old capital one card and my Asda card

    those two are the amex cards,Halifax clarity (provided I only use it for the first £300 of spending each month, £5 cashback is around 1.6% cashback) and Santander 123
    AMEX has the Basic, Green, BA and Platinum cards that are all within your reach which you can use to build up on. Why do you think you need a bank with AMEX in order to get a card? Your credit profile in good standing is all you need, I honestly don't understand why you think you can't get a card

    What's premium banking to you, is it the BS with insurance or is it banking where you get better service and dedicated teams to deal with you, offered exclusive perks and offers to go to dinners, sports games etc?
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    (Original post by tehFrance)
    AMEX has the Basic, Green, BA and Platinum cards that are all within your reach which you can use to build up on. Why do you think you need a bank with AMEX in order to get a card? Your credit profile in good standing is all you need, I honestly don't understand why you think you can't get a card

    What's premium banking to you, is it the BS with insurance or is it banking where you get better service and dedicated teams to deal with you, offered exclusive perks and offers to go to dinners, sports games etc?
    No no, I was sayin that its sometimes easier when you bank with someone and push through money, because they can see that you can manage your account

    Also, I had a look at Amex Basic

    https://www.americanexpress.com/uk/content/basic-card/

    And it also has the same "You must earn 20K" rule. I dont earn that much

    For me, premium banking, are services, that the banks offer for a set fee each month, like these:

    http://www.moneysavingexpert.com/ban...rrent-accounts

    Thinking ahead, a few years, Id probably do what my parents do, and pay for a premium account with Halifax, for home emergency cover (mainly the boiler tbh - it's effectively £15/month, instead of £10/month...)

    Or I might not, if I can get cover cheaper elsewhere. I already have free European travel insurance, so I think if I had a spouse, make that a joint account, and they'd get it as well, I get breakdown cover, from AutoAid which covers you and a spouse, for £39,and I don't see the point of mobile phone insurance

    I don't go to dinners, sports games etc... EVERY month, so those sorta benefits wouldn't be particularly attractive to me, because they'd be cheaper without paying a fee to the bank
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    (Original post by de_monies)
    No no, I was sayin that its sometimes easier when you bank with someone and push through money, because they can see that you can manage your account

    Also, I had a look at Amex Basic

    https://www.americanexpress.com/uk/content/basic-card/

    And it also has the same "You must earn 20K" rule. I dont earn that much

    For me, premium banking, are services, that the banks offer for a set fee each month, like these:

    http://www.moneysavingexpert.com/ban...rrent-accounts

    Thinking ahead, a few years, Id probably do what my parents do, and pay for a premium account with Halifax, for home emergency cover (mainly the boiler tbh - it's effectively £15/month, instead of £10/month...)

    Or I might not, if I can get cover cheaper elsewhere. I already have free European travel insurance, so I think if I had a spouse, make that a joint account, and they'd get it as well, I get breakdown cover, from AutoAid which covers you and a spouse, for £39,and I don't see the point of mobile phone insurance

    I don't go to dinners, sports games etc... EVERY month, so those sorta benefits wouldn't be particularly attractive to me, because they'd be cheaper without paying a fee to the bank
    You say that you put through £x per month, why don't you put more through to give the illusion that you're earning £20k+? Don't go for the basic, when you get the £20k minimum going through your accounts each year, go for the Gold, SPG, Cash back or BA cards.

    Those accounts aren't premium offerings, Barclays and HSBC Premier are premium offerings likewise Citi Gold and Cater Allen for example. Citi Gold (£5k going through each month, can be same £1k going through 5 times) would be the most easily attainable followed by Cater Allen (£5k minimum balance) which gets you a Platinum AMEX no questions asked apparently (shows that AMEX are worthless in the UK :lol:).

    Going for an account because it offers insurance (for example) is ridiculous, I went with ADCB for the Abu Dhabi F1 deals (as well as other perks in the UAE), HSBC for international banking (plus business perks) and Citi Gold for the dining/travel perks.
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    (Original post by tehFrance)
    You say that you put through £x per month, why don't you put more through to give the illusion that you're earning £20k+? Don't go for the basic, when you get the £20k minimum going through your accounts each year, go for the Gold, SPG, Cash back or BA cards.

    Those accounts aren't premium offerings, Barclays and HSBC Premier are premium offerings likewise Citi Gold and Cater Allen for example. Citi Gold (£5k going through each month, can be same £1k going through 5 times) would be the most easily attainable followed by Cater Allen (£5k minimum balance) which gets you a Platinum AMEX no questions asked apparently (shows that AMEX are worthless in the UK :lol:).

    Going for an account because it offers insurance (for example) is ridiculous, I went with ADCB for the Abu Dhabi F1 deals (as well as other perks in the UAE), HSBC for international banking (plus business perks) and Citi Gold for the dining/travel perks.
    You have to declare your income on a credit card application.Declaring he earns 20k+ on an AMEX application form when he doesn't earn that much would be fraud!

    Also he could be in trouble with National Hunter if he puts conflicting information in different credit applications.

    Paying in a lot of money into a bank account only will help you acquire a CC with that bank. Credit reports don't show assets/savings!
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    £100,000 limit on business credit card, NatWest
    £2,000 on personal card, Co-Op

    Keep a clear balance on my own credit card. Only use it for insurance, and to have a backup in case something goes wrong.
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    (Original post by DarkWhite)
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    £100,000 limit on business credit card, NatWest
    £2,000 on personal card, Co-Op

    Keep a clear balance on my own credit card. Only use it for insurance, and to have a backup in case something goes wrong.
    Your business must be very vaulable and with a good credit rating to get such a high limit!
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    (Original post by a729)
    Your business must be very vaulable and with a good credit rating to get such a high limit!
    Yes to both of those. It's not exclusively my business though - I'm not rich or anything
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    (Original post by a729)
    Your business must be very vaulable and with a good credit rating to get such a high limit!
    Businesses can get huge lines of credit successful or not, my business which has made a profit but is still getting to the stable point has a credit line of £32k in HK for just one CC and hell of a lot more in Dubai (although admittedly it's connected to the real estate side). If your business plan is solid and you're showing signs of growth and know the direction you're heading, you can get credit easily.
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    20. Don't have any. I have enough money not to need them
 
 
 
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