Credit Limit Increase

Hey @Tim , welcome to the community :wave:
You raise a good question, and I can see this is something a lot of users would like more info about.
Let me discuss with the team and see what I can find out :slightly_smiling_face:


Thanks a lot Oisin. Looking forward to it


@Oisin did you manage to get an update on this yet?

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Hi @Oisin have you been able to get any further info on this, seems to be a hot topic and with more users joining the community it would be good to have some official response especially since most traditional credit card companies do offer or allow increases after 6 months and non of the active members here over that account age have been offered one or asked?

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Hi Tim

Mines only£500 but my wife’s £2000, I earn a lot more than her and have a better score,

Just don’t understand the logic


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Yeah that’s weird. But score isn’t everything, and it could be Tymit have used some machine-learning algorithms, which perform better in aggregate but you end up with some weird outliers.

Hi @Sholao , yes, I’ll have an update for you soon! We’re discussing this at the moment, but I’ll come back to with more info when I can


I’ve asked in chat several times and got generic answers but no action. It looks like requests are currently ignored and it doesn’t seem to be reviewed.

It’s 1 of the reasons I don’t use the card as it’s just impractically low.

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It will be interesting to see what Oisin comes back with as there does seem to be a general consensus around the credit limit being quite low. Also odd that no-one seems to have actually had any increase at all.

Yes @simonhunter87 if your limit is less than your average monthly spend it’s not very practical at all. Not ideal if you wanted to use one card for everything.

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It’s not usual for a startup to issue lower limits, and not review these for a while as they will have certain insurances and risk levels. But it would be great for these to be increased now the product has been proven and people wish to use the card more and more :joy:

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Yeah @jase the term startup has a certain shelf life :laughing: honeymoon period is over let’s get the credit limits increased :wink:

A higher limit could increase card use and ultimately make more profit for Tymit to move the business forward.

It is guaranteed to increase their risk and also not guarantee increase card use. Don’t forget for non-Booster customers, Tymit are taking the risk on all payments being made having already paid the retailer the full amount.

Also, Tymit is still a startup for sure. :slight_smile:

Yes I totally get what you are saying and agree they have to manage risk, But once you’ve proved yourself making payments on time and managing your account correctly there should be a way to increase the limit.

I think the frustration is the lack of guidance around this. The credit agreement states you will have an opportunity to increase the limit but doesn’t say how or when.

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The thing is this takes time & lots of data. Card companies want to see longer term evidence, how users handle spending across times like Christmas, Black Friday, various seasons, holiday & travel spending etc. Most credit card companies judge that across years not months and they’re not startups!

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Whilst many may find the lack of ability to increase credit limits frustrating, I can see things from Tymit’s side.
They will have to abide by all the FCA rules regarding responsible lending, persistent debt, etc, etc.
Apart from my Nationwide credit card (which I have held for more than 20 years) no other lender has given me a credit limit much above what Tymit offered me.
Personally, I find the limit quite adequate for a back up card although I know others will not think the same.

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Agree, the limit is adequate, if not generous, for routine usage and I always have other options to fall back on if required. I would however be keen to see an increase on the Tymit card to make it suitable for larger purchases. Yes ‘startup’ is a relative term but as with most new businesses, wishing to grow from scratch, it takes time to scale up and the sector is highly regulated, probably limiting the agility such a business could demonstrate in other sectors. Overall I like what they are doing and am prepared to be patient.


Really good to get a discussion on this and hear different points of view. I suppose I have been guilty of comparing Tymit with my current card with a much higher limit and that isn’t quite fair. I’ve had that card for over 25 years and my bank will have much more data on me and my spending habits than Tymit does at this stage.

I really like what Tymit are doing and I’m sure the card will come in very useful for me in the years to come, I would just like to know that a limit increase would be possible in the future as it was my intention to replace my other card with Tymit and close down my high street bank account.

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I applied for Tymit and got a £500 limit. That’s too low to be useful for me. Applied for Virgin straight away and got 8k.

To compete, Tymit is going to have to offer higher limits and/or increases. If I can’t even put big ticket items on it (new laptop), it’s pretty pointless, given in particular the core feature is the ability to spread out larger bills!


:mega: Keep an eye out for an update on this next week!

Sorry for the wait everyone, but our Risk team has been working hard to make progress on this over the past few weeks. Some exciting news to share soon! :slightly_smiling_face:


Hey guys ive been accepted for tymit boost card where i have to transfer but im completely CONFUSED to say the least! If i for example transfer £50 how much will my credit limit be? Is my credit only the money I transfer or do i get loan money on top of my transfer? Hope someone understands my question as i am so confused. Thanks in advance