Barclaycard Arrival - Credit limit question on New Approval.

[PowerMan572]

Well I called the backdoor number this morning and they were unable to start me with a higher limit. The guy I spoke to did bring up my account and could see I was charging and paying it off weekly. He said that is not a problem whatsoever in Barclay's eyes and that in a couple months if I continue with this patern it'll prove to them that I can handle the $1,200 limit and that it's not enough. He stated they shouldn't have a problem increasing my credit limit then.

Looks like I'll wait a few months. 

QUOTE: "1. Creditors FOR SURE watch your spending and payment pattern and as long as your reported income to them supports the amount you keep charging and paying in full (they have on file you make $20k a year but you just spent $5k the last 2 months in a row they are going to be wondering where you are getting your money from) " 

I'm not sure how accurate this is. I was 18 and when I got my first card I was charging literally thousands to my credit card a month and paying them off multiple times a month like I am now. (My income to charging habbits definitely did not match up either like you state.) I never ran into problems with that card company and I don't think Barclaycard is going to care now. I make charges, they turn around and get paid before the due date... I don't think they're going to question me (unless things have changed since I've had a credit card and been able to charge $3k - $5k a month like I am now.) 

[B335is]

Well at least you tried the analyst approach. It may not even take 6 months, they've been known to bump up limits sooner.

As far as the creditors watching your spending patterns, this is true. If they see someone charging $10k per month on a reported annual income of $30k, they won't simply ignore it. Search "Amex FR" for some examples. You risk being shut down, bonuses confiscated, blacklisted and even bigger issues down the road if you wind up in BK.

[Bobby1146]

That will still depend on what you put down as your income, your credit report & credit score.

[Bobby1146]

WOW, NICE

[Bobby1146]

Perfect example! Personally I learn & enjoy trying to educate to the best of my knowledge people who need some answers. I get some knowledge from here & TV. But I think going to college & studying general medicine and law in the same semester is easier than following or trying to fully understand how the credit score subject really works! My credit FICO credit score was 772 in March/April, & all I can honestly say as for how I got there is, I PAYING MY BILLS ON TIME, IF NOT ALL I SEND THEM AS MUCH AS I CAN... My credit report says, "lack of installment loans", but I don't need one & I'm good with the score I have now.