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Hi, my name is PRO04!

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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

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  • janer1967
    janer1967 Community member Posts: 21,964 Disability Gamechanger
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    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
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    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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