apply for credit limit increase and get double points for Nov

[Jeffrey O'Neill]

just received an email with an interesting offer. Tempting as I'll be in the USA at the time so prob spending a bit more than usual.

Can also downgrade my limit afterwards if I really wanted to.


An invitation to increase your credit limit, plus double reward points on spend if you act by 31 October.

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[TD]Be quick and earn double reward points when you spend.[/TD]
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[TD="align: left"]Your credit limit increase invitation is open until 23 December. But if you apply by 31 October, you could earn double reward points for eligible purchases made in November, up to a maximum of 10,000 bonus points**.[/TD]
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This invitation is subject to our credit criteria, your existing accounts being in good order at the time of processing, and provided that you have not successfully applied for a credit limit increase or accepted an additional credit product from us in the last six months.

**Bonus points offer available upon successful application by 31 October 2015. Applies to eligible transactions up to a maximum of 10,000 bonus points. Eligible transactions include retail purchases and exclude cash advances, refunds and balance transfers. Bonus points will be credited to your Account in 8-10 weeks from the end of the spend period.

 

[vantage03]

=6666 points when transferred to a non-QF partner.

Always good to know what offers are out there but this doesn't seem particularly compelling compared to normal sign on bonuses etc.

6,666 Krisflyer points doesn't take you very far ðŸ

 

[Isochronous]

Any offer of extra points for existing cardholders is great!

 

[get me outta here]

If you have a million points no, but if saving up every point to get enough to a redemption, that's better than a burnt stick.

=6666 points when transferred to a non-QF partner.

Always good to know what offers are out there but this doesn't seem particularly compelling compared to normal sign on bonuses etc.

6,666 Krisflyer points doesn't take you very far ðŸ

 

[Jeffrey O'Neill]

=6666 points when transferred to a non-QF partner.

Always good to know what offers are out there but this doesn't seem particularly compelling compared to normal sign on bonuses etc.

6,666 Krisflyer points doesn't take you very far ðŸ

True. But free points are free points.

 

[exceladdict]

Any offer of extra points for existing cardholders is great!

I think this is a tad unethical. The regulators forced banks to allow you to 'opt out' of credit limit increases, as it was causing people to trap themselves in debt. Obviously for those that pay off their card every month and can afford / want the extra capacity, there's no issue etc etc but this could be harsh to people in a struggle that perceive a little extra credit might 'finally help them get out of debt'. Remember it's the user who opts out, and the banks won't encourage someone they will make a lot of interest $$$'s from to opt out.

Also, if a credit limit increase means a credit check, I'd rather apply for a new card and get 50k points...

 

[Mark3000]

I would be very happy with one of these. I wonder if it is targeted or everyone will get one

 

[Dr Ralph]

What was your credit limit and what did they want you to increase it to, in order to receive the offer?

 

[Jeffrey O'Neill]

What was your credit limit and what did they want you to increase it to, in order to receive the offer?

Current 17K on signature card

In the email I received they had 33K* but i'm thinking I might see if they let me do a small increase to 20K and still get the double points.

Otherwise prob just increase and then decrease in the new year.

 

[Dr Ralph]

Otherwise prob just increase and then decrease in the new year.

Seems like a smart plan.

 

[DeKa]

Has anyone ever had a free upgrade from Signature to the old Select or the current Prestige?
Back in the day the only way you could get the "free" upgrade say from Gold to Platinum or Platinum to Signature was to have a credit limit over the minimum of the next card up.
I only mention this as it may be worthwhile for some to take an increase in limit to be over the threshold for Select (whatever that is).

 

[trippin_the_rift]

Otherwise prob just increase and then decrease in the new year.

What are the benefits of decreasing your card limits aside from if you plan to apply for new cards/mortgage etc?

 

[exceladdict]

What are the benefits of decreasing your card limits aside from if you plan to apply for new cards/mortgage etc?

Though it's not used yet, VEDA has a placeholder for "combined credit limit" on their online services which will somehow affect your credit score, perhaps, once it is reported.

 

[JohnK]

What are the benefits of decreasing your card limits aside from if you plan to apply for new cards/mortgage etc?

To stop you maxing out higher limits?

 

[trippin_the_rift]

I can't see it affecting credit scores as its relative to your income, which won't be tracked.

 

[Buzzard]

I received an invitation to increase my limit but no mention of a double points offer.

 

[greenfrog86]

I can't see it affecting credit scores as its relative to your income, which won't be tracked.

It will become an input into new credit applications... at the moment you can lie and say your combined limits are say 15k but really they are 65k. The credit provider has no way to verify that, however over time they will be able to use the 'combined limit' data point from Veda to check this

 

[bismarck]

Received this offer as well. Have decided to take it up, as I see no harm in raising my credit limit ($20k to $30k) as I can always drop it later if there does become an issue with comprehensive credit reporting.

It did not trigger a Veda alert for those asking.