Maximum credit limit available?

S

stuffit

Registered User
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I'm doing some home improvements to my house which will cost €15K.

I can get a top up loan of €20K from my mortgage provider - it's the minimum they'll give me. Rate is 4.6%.

I'd like to pay for all the furniture, tradesmen etc. using a credit card. I could apply for one with an introductory offer of 0% for purchases (e.g. First Active @ 0% for first 9 months).

And I could stick the unused loan cash into a high interest bearing account for nine months.

For this to work I would need to be able to get a large credit limit on new credit card.
My salary is €60K and partner earns €50K

What’s the maximum credit limit we could get?


Thanks

Ste
 
Hi,

You may want to check that tradespeople will accept credit cards - I'd imagine that most won't.

Triona
 
triona said:
Hi,

You may want to check that tradespeople will accept credit cards - I'd imagine that most won't.

Triona
Click to expand...


with MBNA you get a cheque book for ppl who don't take cards.. they are charged as purchase and not cash (as long as its not loged to your bank acct)....
 
Ive had 20k(reduced it back down) limit on my card, it started a 6k and with out me knowing the credit card company kept putting it up. To answer your question the highest amount I know of is 25k.

Joejoe
 
jhegarty said:
with MBNA you get a cheque book for ppl who don't take cards.. they are charged as purchase and not cash (as long as its not loged to your bank acct)....
Click to expand...

I don't think this is correct...those MBNA "cheques" are treated as a cash advance and generally bring about savage costs.I'm open to correction on this point
 
I think your right 2.5% cash advancement fee on each cheque.

Joejoe
 
In case it's of any relevance - as I mentioned before PTSB VISA charges a 1.5% fee on cash advances but does not charge interest until the same time as interest charges would apply to credit transactions on the card (i.e. so many days after the next bill has issued). I think it might be slightly unusual in this respect as many cards seem to charge interest on cash advances from the time they are made.
 
Ask AIB about their new card. I was offered a credit limit of something like €30k (ridiculous stuff notwithstanding my excellent credit history with them!).

You could also get a couple of CC's.
 
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