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Hi, my name is PRO04!

PRO04 Community member Posts: 1 Listener
Hi all, I've just signed up on here, I also would like to get a credit card but I can see the Apr is quite high around 39% There is one I came across which was 29% Apr. Who sets the limit on the card? ie the company giving the credit card or is up to me? Also how do I know they are not just scams to get my identity.
 Many thanks


  • janer1967
    janer1967 Community member Posts: 21,964 Disability Gamechanger
    Hi and welcome to the community 

    I'm not certain but think usually the credit company set the limit as with any online application you run the risk of scams I would go by a reputable company name and maybe a Google search of the company but again this could be false 

    I would think the company would need to be registered to a financial governance and have valid business registration number 
  • bg844
    bg844 Community member Posts: 3,887 Disability Gamechanger
    The provider will give you a limit up to a certain amount and you can say either all or a figure below as part of your application. The APR goes of many factors such as your previous borrowing history, if you owe any money elsewhere currently, age, job etc. 39% is quite a standard figure for those providers who give ‘beginners’ cards and those who have a poor credit score for other reasons such as debt or bankruptcy (even harder to get in that instance). I taken out a new card from my bank in December which is a 22 month 0% card due to my previous offer from elsewhere expiring.

    As advised above, always go for a reputable lender. This is one of the most obvious things to do financially.
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