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Thread ID: 61559	2005-09-09 01:35:00	applying for a credit card at a bank branch	lance4k (4644)	PC World Chat

Post ID	Timestamp	Content	User
387039	2005-09-09 01:35:00	When u apply for a credit card at a branch, is there a place on the application form where u can state the credit limit what u wish? or do the banks set this for u?because when i apply online i can choose the credit limit. Also how do u increase ur credit limit? can u do it over the phone?	lance4k (4644)
387040	2005-09-09 02:09:00	Haven't done anything like this in an awfully long time but... Yes, you will apply for a credit limit, but the if the credit application is approved, the bank will set the limit below this to whatever they deem to be an acceptable risk level. From time to time the bank, or credit company, will raise the credit limit based on your risk (income, usage, repayment profile). You can ask for it to be limited at a specific level of your choice, as long as the level is below the upper credit limit they have set. I have no idea whether you will be able to increase the limit over the phone. Is that important?	Murray P (44)
387041	2005-09-09 03:25:00	Hi, Yes you can change your credit limit over the phone, the do need to have at least 6months of payment hidstory before they can do this and you can't normally go higher than double your current limit. If you need higher it normally means fillling out a new statement of position (you will fill one out when you apply) to prove you can service the limit. That will be dependent on the bank of course. And yes you have to specify a limit at the time of application. You can apply online at some banks now too.	Pacifier (2821)
387042	2005-09-09 03:51:00	I specified a limit of $500. Fine and it was done. Then the bank sent me a letter saying it had been increased to $1000 or something and if I DIDN'T want it I had to ring and cancel it. I rang all right and reminded them of the limit I specified and the no increases I had specified and how dare they automatically do that. They never did it again.	pctek (84)
387043	2005-09-09 03:55:00	I was going to get a credit card with a $500 limit just for online purchases. Didn't bother, I would have spent more anyway. But, a low limit is good if you need it for online purchases.	KiwiTT_NZ (233)
387044	2005-09-09 04:06:00	The bank wants you to have, and use, a high limit. They like 20% interest.	Graham L (2)
387045	2005-09-09 04:15:00	The bank wants you to have, and use, a high limit. They like 20% interest. And... if you never pay interest by always clearing the card by due date, they try to tempt you with "Gold Cards" and the like, and those unasked for credit limits. Mine has crept up to about $20,000 even though I only have pension paid into the bank.	Terry Porritt (14)
387046	2005-09-09 05:57:00	And... if you never pay interest by always clearing the card by due date, they try to tempt you with "Gold Cards" and the like, and those unasked for credit limits. Mine has crept up to about $20,000 even though I only have pension paid into the bank. Like you I am on a pension but I still have a gold MC. with $25,000 limit. My wife has the same. I also have a Visa card with $10,000 limit. If I spent the lot what could they do?	JJJJJ (528)
387047	2005-09-09 06:04:00	Charge you lots of interest.	Graham L (2)
387048	2005-09-09 11:29:00	don't mean to hijack - but quick Q... I want a CC for online purchases for next year when i'm at Uni (at the mo i use my mums card and just pay her etc) But i won't be able to get one as i'm not working (correct?) I do work in holidays etc - but i'm assuming this won't cover it. Is there any way i could get one (i'm 18) while at uni? I mean it doesn't even have to be a CREDIT card, it could just be a Debit card that acts and looks like a credit card - as i always have the money b4 i buy. even with a $100 Credit limit i'd be happy!	Fergie (6508)
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