thevoicewithin: Huh. My credit card limit has been snea

thevoicewithin (

thevoicewithin) wrote,
@ 2006-10-04 09:26:00

Huh. My credit card limit has been sneakily raised by another £500 without me asking for it or being told about it. Not quite sure how I feel about this.

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	blackbeltbarbie 2006-10-04 08:34 am UTC (link)
	Hehe! Think of all the vests you could buy! Its not like you have to use it, but its handy to have especially with the guys wanting to find your own place. (Reply to this)(Thread)

thevoicewithin
2006-10-04 08:46 am UTC (link)

This is why I'm not sure how I feel. Yes, it means we'll have more credit available to us when we do get round to buying a place (yay for being able to get a better fridge etc), but it also means that I'm more likely to go and spend that extra £500 before then. If I've got money available I tend to go and spend it :/

Need to get that sorted out in my heid really :)

(Reply to this)(Parent)(Thread)

	blackbeltbarbie 2006-10-04 08:55 am UTC (link)
	Yeah thats my problem too. Tend to spend it if its there. (Reply to this)(Parent)(Thread)

	thevoicewithin 2006-10-04 09:01 am UTC (link)
	Having it there means that I have now got enough money to buy myself the nice sparkly little new camera that I want. But I should say no. As FiB would say, I mustn't buy it because "it would be wrong". (Reply to this)(Parent)

	themongkey 2006-10-04 10:40 am UTC (link)
	It's SOP in the credit card industry, as is sending out those nice credit card cheques which are an invitation to fraud. The limit on my main card is only a couple of grand less than my salary - which can be taken as an indictment of the card issuer, or my employers. Or both ;o) (Reply to this)(Thread)

thevoicewithin
2006-10-04 11:13 am UTC (link)

Don't hit me with your TLAs - I never have a clue what they mean :p

I've never actually seen these credit card cheque thingies - heard plenty about them, but never actually seen any. My credit card limit is currently at just over 7% of my salary, so it's well within safety limits, but unfortunately 75% of that available amount is already being used and is acruing interest. It's at the point where I should probably look at transferring it over onto a 6 month interest free on transfers card.

(Reply to this)(Parent)(Thread)

	themongkey 2006-10-04 11:51 am UTC (link)
	SOP = standard operation procedure. DYK? And if you're running a balance, you definitely want to move to another card with an interest-free period. The Motley Fool and MoneySavingExpert.com are the places to go. HTH, HAND, TTFN. (Reply to this)(Parent)(Thread)

	themongkey 2006-10-04 01:12 pm UTC (link)
	D'oh. That should be operating procedure. That's why I use TLAs, far easier to type. (Reply to this)(Parent)

	thevoicewithin 2006-10-04 02:12 pm UTC (link)
	Well, not definitely. Thing is, generally you now have to pay a transfer fee of x% of the balance transfer, so I'd need to weigh that cost against the interest of the time period that it would take to pay off. But yes, I should probably be looking at transferring. (Reply to this)(Parent)(Thread)

themongkey
2006-10-04 03:05 pm UTC (link)

OK, if you're planning on paying it off in the next couple of months then it's probably not worth it. But if you'll still have a balance in 6 months, it's probably worth a one-off 2.5% fee rather than 6 months' interest at credit card rates.

There's still the odd card left that doesn't charge a transfer fee, or there was last time I looked at things.

And it goes without saying that a card with a balance on should not be used for your day-to-day spending... that way lies pain.

(Reply to this)(Parent)(Thread)

	thevoicewithin 2006-10-04 03:11 pm UTC (link)
	Fair words, all of those :) (Reply to this)(Parent)

	ceriselle 2006-10-04 12:51 pm UTC (link)
	You can buy me a kittin, that would make everyone happy (Reply to this)

	r1cardo 2006-10-04 06:11 pm UTC (link)
	Mine got raised by 1000 without anyone telling me :P very odd. (Reply to this)(Thread)

	thevoicewithin 2006-10-04 07:06 pm UTC (link)
	Had you previously asked for yours to be raised? I'd previously asked for an extra 1.5K. They don't know I've got my much better paying job yet either - I'm ~~dreading~~ wondering what they're going to do when they find out about that! (Reply to this)(Parent)(Thread)

r1cardo
2006-10-04 07:39 pm UTC (link)

nope when i first got it, it was 500, and then at some point in the last year they have put it up on their own by 1000 ish. I never asked for that at all but it's handy really i suppose. I should never ever hit that limit but at least i never have to worry about hitting the 500 limit now, especially with having to use it for work a lot and often getting up to 300 a month just for work expenses.

(Reply to this)(Parent)

	greatred 2006-10-04 07:55 pm UTC (link)
	Yeah my credit card people do that to me as well occasionally. I don't generally go over my original limit anyway. I wonder if you can ask to have it reduced... (Reply to this)

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