Chances of getting a low limit credit card?

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Comments

  • WelshBlue
    WelshBlue Community Member Posts: 1,423 Championing
    Credit scores/ ratings don't really matter in the grand scheme of credit - lenders go on past credit/ loans and payment of that credit/ loans.  A higher rating usually means you'll be accepted for lower interest rates

    'Credit Ratings' just show what money you owe on accounts and any defaults on payments, a high score doesn't mean you'll be accepted, especially if there's a lot of accounts open with high amounts owing

    Paradoxially having a credit card and not using it runs the risk of having the card stopped/ limit reduced which could affect obtaining future credit.

    Used correctly credit is a good way of getting something ... very expensive way if not used correctly
  • poppy123456
    poppy123456 Community Member Posts: 64,375 Championing
    Totally agree that credit scores mean nothing, it's your history they look at.
  • 2oldcodgers
    2oldcodgers Posts: 732 Connected
    Purrrrrrr said:
    2oldcodgers said:
    As a matter of interest I have just checked my credit rating through MoneySuperMarket and it has come back as 607 out of 710 saying my report is excellent!!
    No idea why

    Mine was like that as well but I once tried to get something on credit at PC World and failed the credit check.  Due to not having previous credit 
    Wierd if you ask me.
    Thankfully I have never had the need to want to borrow. Even our home was funded by a previous sale. Everything else comes/came out of income.

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