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If i take out 50% + on my credit cards, and then pay them back, is this a sure way to Watch

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    (Original post by john2054)
    sure, i think we are in a period of growth now, however. i understand the some of the forecasters, government etc have been very cautious in the event of the brexit, which has now happened. But despite all of this, the most recent figures for our economy, seem to be looking up.

    Who knows how long this will last however? And if there is another crash, god knows who's going to foot the bill this time???
    You are missing the point. Interest rates are only going to go up. Unsecured credit is already very expensive, and will get even more expensive. There is no need to increase your limits beyond what you have. If, in the future, you need money you don't have for a significant purchase then get a proper loan, don't use credit cards to "fund" it.

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    I don't understand why OP wants to increase his limit though? Increase for increases sake?
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    (Original post by Mega0448)
    I don't understand why OP wants to increase his limit though? Increase for increases sake?
    This is what I don't get.

    I have been offered the option of increasing my limit. But I don't need to. I've never been in the situation where I've needed to spend that much money in one go. And I've got my savings if I really need to spend more than my current credit limit.
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    (Original post by jneill)
    You are missing the point. Interest rates are only going to go up. Unsecured credit is already very expensive, and will get even more expensive. There is no need to increase your limits beyond what you have. If, in the future, you need money you don't have for a significant purchase then get a proper loan, don't use credit cards to "fund" it.

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    (Original post by Mega0448)
    I don't understand why OP wants to increase his limit though? Increase for increases sake?
    (Original post by Tiger Rag)
    This is what I don't get.

    I have been offered the option of increasing my limit. But I don't need to. I've never been in the situation where I've needed to spend that much money in one go. And I've got my savings if I really need to spend more than my current credit limit.
    I want to get my limits increased. It makes me feel better, when that happens.....
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    (Original post by john2054)
    I want to get my limits increased. It makes me feel better, when that happens.....
    At a cost of £54+
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    (Original post by jneill)
    At a cost of £54+
    It will cost me a lot more then that. I have something like seven cards, and they have a range of limits. This is just money management. The woman in the bank asked me if I had won the horses. She seemed a bit deflated when I told her that I had just taken them off my cards....
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    (Original post by john2054)
    It will cost me a lot more then that. I have something like seven cards, and they have a range of limits. This is just money management. The woman in the bank asked me if I had won the horses. She seemed a bit deflated when I told her that I had just taken them off my cards....
    Money management is looking after your money efficiently.
    Money management is not throwing cash away on a vanity project.
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    (Original post by jneill)
    Money management is looking after your money efficiently.
    Money management is not throwing cash away on a vanity project.
    jneil, I respect you because you have a job, you are an employer, and I think you have a degree

    if you want to send me free money, we accept paypal....
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    I'm actually concerned from reading this thread and others by you on similar topics.

    If anything, you shouldn't be allowed control over your own finances.
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    (Original post by Mega0448)
    I'm actually concerned from reading this thread and others by you on similar topics.

    If anything, you shouldn't be allowed control over your own finances.
    why not?
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    there was an interesting Moneybox episode this week all about how to improve your credit score:

    http://www.bbc.co.uk/programmes/b086s8yn
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    (Original post by john2054)
    why not?
    You're making a lot of decisions that make no sense. You seem to just want to spend money because it's there and want to increase your limit for the sake of it.
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    John2054 is in his quiet fashion much the nuttiest poster on the site. Bonkers, but I like him.
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    (Original post by the bear)
    there was an interesting Moneybox episode this week all about how to improve your credit score:

    http://www.bbc.co.uk/programmes/b086s8yn
    Brilliant podcast, i have just listened to it. I am always learning about these things. I actually keep a spreadsheet with all of my finances on it. Do you have a credit card bear?

    (Original post by Tiger Rag)
    You're making a lot of decisions that make no sense. You seem to just want to spend money because it's there and want to increase your limit for the sake of it.
    I guess so. There is method behind my madness. I have never missed a payment, and the longer i can keep this good history, the stronger my credit scores will be/grow. They are currently between average and good all of them. I don't think i have a bad one at the moment!
    (Original post by cambio wechsel)
    John2054 is in his quiet fashion much the nuttiest poster on the site. Bonkers, but I like him.
    Thanks m8, it means a lot coming from you!
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    (Original post by john2054)
    Thanks m8, it means a lot coming from you!
    Did cambio wechsel just get rolled by john2054 ? I half hope so.


    Keep on keeping on m8. I was just reading your blog: chinese lanterns from the allotment and so on. Great stuff.
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    (Original post by cambio wechsel)
    Did cambio wechsel just get rolled by john2054 ? I half hope so.


    Keep on keeping on m8. I was just reading your blog: chinese lanterns from the allotment and so on. Great stuff.
    Thanks Cambio, yes what a cool name huh? They are actually these little edible fruit things, which grow on a bush, and taste quite nice. They are like a chinese latern, which is orange/red colour, then you open it, and it has this small orange ball, which you eat, and tastes quite citrusy. What a treat!>?
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    (Original post by john2054)
    No from Vanquis, the credit card i have an overdraft of £500 on. it is now my goal to withdraw roughly 60% from each of my cards, and then pay them all back asap, using this same money.

    This way i should be maximising my chances for credit limit increases, when they are all reviewed again, which for my capital one cards, is later this month.

    This plan may fail, or it may work, but if you have your head screwed on the right way, you can do anything folks...
    Vanquis are one of the ripoff high rate cards aimed at people with poor credit histories - so I would ask if you really need a credit card, have you tried providers with lower rates? If you are a student and your bank account is running OK, then you could try your bank as all of the main bank card rates are much better than Vanquis and they will typically work better and have potential for higher limits.
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    (Original post by john2054)
    Thanks Cambio, yes what a cool name huh? They are actually these little edible fruit things, which grow on a bush, and taste quite nice. They are like a chinese latern, which is orange/red colour, then you open it, and it has this small orange ball, which you eat, and tastes quite citrusy. What a treat!>?
    I think you have physalis.
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    (Original post by Fullofsurprises)
    Vanquis are one of the ripoff high rate cards aimed at people with poor credit histories - so I would ask if you really need a credit card, have you tried providers with lower rates? If you are a student and your bank account is running OK, then you could try your bank as all of the main bank card rates are much better than Vanquis and they will typically work better and have potential for higher limits.
    thanks full of surprises, i don't want to make any more applications for credit for the time being though, because i have already made quite a few in the past three months, and this brings my score down. i do have a barclays account, and i don't even know why i opened the vanquis one. One good thing i did get out of it though, is that the nice woman in the call centre, told me to spend around half of the balance, and then pay it back, if i want to be considered for increases in the future. It wasn't me just making this up. So this is now what i am trying to do, on all of the cards which will let me do this. It will take a while, and cost a bit, but if this strategy works, i can potentially expect some more limit increases in the future.

    I also have two facebook friends, who got their first credit cards, around the same time i did, and we are going on this journey together. Thanks for listening!
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    (Original post by jneill)
    I think you have physalis.
    PRSOM but I love this.
 
 
 
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