Ajay Ahuja on Credit Cards and Credit Limits

I recently told you about my lovely credit card company who offered me:

0% on all purchases till the end of the year.

I have activated my card now and I had to go online to get the PIN.  I did this but then there was this curious menu button that caught my eye…..

Credit Limit Increase

Hmmm.  I like the sound of that!  So I innocently clicked on it expecting to see this massive form asking for this, that and everything else!  However quite the opposite.

The first question got me salivating:

What would you like your new credit limit to be?

That’s like asking a kid how many sweets do you want.

Now my credit limit is £13,500 so I thought I would pitch it just below cheeky.  So I put in:

£20,000.

Then there were 5 more really basic and boring questions like occupation, income etc.  And then they said they might call you to get further info.

I got that call the very next day.  I only did the application at around midnight and they are calling me within 12 hours! NICE.

So they asked me what I did, what I wanted the money for and the guy got in to a bit of a chit chat about how the recession may have helped landlords.  Then at the end of the conversation he said:

“Right your limit has increased to £20,000”

I said is that it?  And he said yes, your limit will be activated to go up to £20,000 and it should show in your online account within 24 hours.  Well actually it is showing now after 3 hours my brand new credit limit of £20,000.

So what does £20,000 mean to you?  Does it mean 2, 3 or even 4 properties?  I hope so.

Is the credit crunch starting to melt?  It seems like it.  I wish I had asked for £25,000 now.  I think I will pencil that in to do next month!

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