High Card Limit

[Ritzy]

Hi Guys

Im looking for a card that would give be a limit of at least 20k, I have a decent earning, no other cards and no other debt. I was thinking of Citibank.


regards

Sunny

 

[SeaWolf]

You may find that's not really an attainable limit when you're signing up for a new card. Usually they start you off on a lower limit and once you develop a bit of a history with them they will start offering you limit increases and will be likely to accept requests for limit increases.

If you have an existing card, you might be more likely to have success by requesting a limit increase from them. If you've had a good relationship with them (always paying the bill on time etc.) then they're quite likely to approve limit increase requests.

 

[Shano]

As SeaWolf mentioned you may have difficulty applying for a high limit card as your first card. Some platinum cards will give you a high initial limit if you meet their criteria, but have much higher annual charges.

One option is get a credit card with a smaller limit, and on top of that apply for a charge card - either Diners or Amex. Through these you can earn QFF points.

Note though with charge cards they must be paid in full each month otherwise the late fees are very steep. Also note that even with a charge card the provider will probably want to see a good repayment history before racking up anywhere near $20K in purchases in a month.

 

[NM]

Citibank gave me more than $20K limit on my Readicredit account when I had no prior history with them. Its not really a credit card, but a line of credit more like a personal loan I can draw upon at any time, including via a Visa card if desired (I have not taken that option).

 

[one9]

A little bit ago, I signed up for the Citibank gold card under the free for life offer. The credit limit they gave me was $25k.

I notice that $25k is the maximum limit for the gold card, so am not sure if they would have given a bigger limit if I had applied for the Platinum card.

 

[StevePER]

ANZ Gold gave me $20k only a few weeks ago. Amex Platinum probably would have given that much if I wanted it. YMMV.

 

[Zulaiha]

Virgin Mastercard gave us 25K when we first apply and periodically offering a higher limit should we want to.

But as per replies above, I do not know if this has anything to do with us having other cards in hand before, i.e Virgin is not our first credit card.

 

[Ritzy]

Hi Guys

Thx for the replies. I called Citibank and they say If I have to avail of the No annual fee offer I have to have a code, I was wondering If I could use anyone elses or does it have to be specifically sent out to me.

Thanks Again

Sunny

 

[bambbbam2]

Maybe this link?

Citibank Australia - Special Introductory Offer Application

 

[Ritzy]

Thanks for the Link


regards

Sunny

 

[Sheriff]

When I applied for the Citibank Gold Free for Life, Citibank gave me a $25K credit limit straight up . I had no prior credit history with them.

Cheers
Sheriff

 

[akumaslair]

Sorry to hijack this thread but was wanting to increase my limit without going through the credit checks, not because its bad or might be rejected, but I just don't like getting hits on my creidt record.

I had a CBA standard visa for 9 years, limit started at $1k, then $2k, then $6k, then $10k, been at $10k for about 3 years, rarely use it.

I also had a woolworths card, I think I started at $6k or $9k, got a credit limit inc to $21k, about 2 years ago, when they converted over, got a standard MC, after about3 hours of negotiations, got the platinum card, with no fee for 1 year, but still the same $21k limit, my monthly spending varies from $9k to $33k, average probably about $13-$14k, have always paid it back, so have not paid $1 in interest yet...... yet I have had no limit increase offers at all, I even tried to negotiate a larger one when I got the platinum card..

any suggestions.....

no loans or mortgages at all....

the extra limit would be reassuring, make me feel a lot better.... as often I go over my limit and have to add extra funds in order just to use it, but all paid off at the due date....

help appreciated!

 

[Mal]

I also had a woolworths card, I think I started at $6k or $9k, got a credit limit inc to $21k, about 2 years ago, when they converted over, got a standard MC, after about3 hours of negotiations, got the platinum card, with no fee for 1 year, but still the same $21k limit, my monthly spending varies from $9k to $33k, average probably about $13-$14k, have always paid it back, so have not paid $1 in interest yet...... yet I have had no limit increase offers at all, I even tried to negotiate a larger one when I got the platinum card..

Do you use Internet Banking? If so, have a look under "Account Information" and select your credit card. If the system has authorised you for a possible credit increase, then it may be listed there under "Total new credit limit offer"

In your situation, you seem to have a good reputation with Commbank, so should be able to get an increase. However, they may want to know more about your financial situation before they offer one. I believe that certain spend patterns can raise red flags in the Commbank system which may prevent them from automatically offering increases.

IIRC, filling out the form and applying for an increase doesn't flag a credit check with Baycorp et.al. At least that's my recollection from forms I have filled out a few years ago - but unsure of the current situation.

 

[akumaslair]

Thanks Mal,

when you said certain spending patterns raise red flags, what did you mean by that, are we talking overseass transactions or very large ones, I did a $11k one in Jan,

and I was under the impression that a credit limit increase form does make a hit on your credit record,

also, the tab under netbank you are referring to, I have been checking it everyday for the past 1 year, about 6 months, ago I got an increase from $10k to $12.5k on the visa standard, which I hadn't used for 6 months, literealyy it dissappeared within 12 hours... tried to get it back over the phone..but not can do....

 

[oz_mark]

and I was under the impression that a credit limit increase form does make a hit on your credit record,

In my experience they do not refer to any external agency when a credit limit increase occurs, so it should not affect your credit record.

 

[Mal]

When i mentioned "Red Flagged". I was referring to a process that some credit card issuers do - and I believe that Commbank also does.

A pattern of high cash advances, large transactions with gambling companies, or some other similar transactions can flag in the system that the card holder is doing some suspicious transactions that need to be watched. Perhaps large overseas transactions could also be flagged, but I don't think so unless Visa/MC categorises the merchant as something that the bank watches.

No idea if it applies in your case or not.

Someone here who has recently applied for a Commbank increase should be able to advise if they were Baycorp'd or not.

 

[Shano]

Someone here who has recently applied for a Commbank increase should be able to advise if they were Baycorp'd or not.

I have just done this so will request a copy of my Baycorp file

 

[akumaslair]

Hi Everyone,

thanks for your replies,

and thanks, let us know when you get the baycorp report, if the report shows your limit increase.

I have never done a cash advance, and paid everything off everytime, so that area is all OK!!!

the $11k one was a domestic government one, so that should be ok, I have the odd USA one, but about $1000-$2000 max, they are a small company, but happens every 2 months or so, Ido occassionally do sports betting through betfair which I think may be the globallly recognised one


also Shano, what limit were you b4 and what did you ask for???

I currently have $21k, would love anything higher, even $100k, which I won't use but would love very much... but Idon't want to get rejected, should I ask for $35, $50, $75 or $100k, if I ask for $100k, can they turn around and say, sorry the best we can offer is $50k, or is it a simple case of get lost!!

 

[Shano]

also Shano, what limit were you b4 and what did you ask for???

I currently have $21k, would love anything higher, even $100k, which I won't use but would love very much... but Idon't want to get rejected, should I ask for $35, $50, $75 or $100k, if I ask for $100k, can they turn around and say, sorry the best we can offer is $50k, or is it a simple case of get lost!!

Nothing exorbitant really, just an increase from $8k to $12k.

We are renovating our house at the moment, albeit slowly, so the extra funds come in handy for paying for fittings, tradesmen, etc... Am also considering transferring awards points to QFF, and a platinum card has better transfer rate (1:1) than the gold card (need minimum $12k limit to apply for CBA platinum card).

Will advise on Baycorp report when received.

 

[akumaslair]

Shano..... any luck with baycorp.... Id really really like to know,

Ive requested my credit record about 6 times in the past 10 years, but I ve never ordered a credit limit increase!!