I was told to come back in six months, which seems to be industry practice. Of course, you need to use the card in the interim, which I haven’t done much as my limit is pathetic… It’s very chicken and egg.
I have no idea how Tymit’s credit limit increases actually work.
I have been with them for about a year now and have used it quite regularly during that time.
(Probably up to 30% of the credit limit, utilising their 3 months interest free option)
No sign of a credit limit increase yet.
For comparison, I have had an Amex card for approximately 6 months, and yesterday I requested a credit limit increase of roughly 50% through my online account. It was approved instantly.
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Yeah, sounds like you’re best off with a purchase offer, if you need to spread it longer. Tymit don’t do purchase or balance transfer at all, I believe
I don’t mind not knowing exactly, but it’s obvious their limits are just not competitive, which leaves Tymit as an additional card, not core way to spend. Given the whole point of credit cards for the (relatively) wealthy, that means they’re just not getting maximum interchange, which doesn’t seem like a great business model.
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Bank transfers are nearly instant, which is great, but no idea how they apply it to purchases spread across a period…
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Utilisation doesn’t mean much at all though, not on just one card, especially if you’ve other card already not been used. Credit reference agencies just use this as another bit of pointless information to make them sound credible with the advice
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Yes you can make extra payments, just like most other credit cards, but I have found that it very often doesn’t reduce the scheduled repayment.
Whilst this might be a pain if you’re a bit short of cash, it does have the advantage of lowering the following monthly payment accordingly.
With tymit any additional repayments reduce the upcoming months payment. Ditto any refunds.
Unless one is very close to its payment date and have direct debit on. So something like extra payments at the start of the month reduce the next month’s payment rather than the one they are about to take on the 7th.
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Hey @ndrw
We use information declared by the applicant and additional information gathered with the Credit Reference Agencies to assess a customer’s creditworthiness and affordability. Based on this information, our credit policy determines the maximum credit limit that we can assign at that time.
We then aim to make an automated decision for our applications, but there are occasions where manual intervention is required and occasionally credit limits are reviewed at this stage
We can review credit limits for our customers after at least 6 months. This is based on a series of indicators, including payment behaviour with Tymit and other lenders, and also if there has been a change in the customer’s circumstances
As with other things in Tymit, we regularly review our processes including both the initial offer and the credit limit reviews. We do this following both customer feedback, how we compare to other alternatives in the market, regulatory guidance and requirements, and customer repayment behaviour.
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As others have already stated any additional payments will just reduce your next months bill payment.
You can essentially consider it as credit in your account until your next bill comes up.
At Tymit you have a total overall balance with us but it is completely up to you on how you spread it out over months or years with us.
Relating to our smaller credit limits, this is something we are working to increase product wide but we currently have certain credit policies that as a startup we need to follow.
Stay tuned as there are big things in store for Tymit in the near future and as we grow our credit lines will grow too! 
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Correct on the 3 months
However the extra won’t be available for you to spend until the 2nd bill closes at the end of the month.
We are considering ways of freeing this up early but considering the possibility of instalment plans being changed up until the bill closes this currently poses a technical challenge.
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Yes once that first month has closed and you have made the payment that first instalment credit will be returned to you.
This seems like a surprising limitation to me and makes it less attractive to repay early. What’s the technical problem with paying down balances in the usual order of priority and releasing available credit as you go?
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It becomes available straight away. In fact it’s pretty much instant to get credited by bank transfer. What will happen though is the payment over the due balance won’t roll over until the next bill date.
So say you owe £250 and pay off £300 you’ll kind of have an over payment of £50 until the bill is generated.
I’d be surprised if your credit limit would be that low. Mines over £10k
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Tymit are very hit and miss with their credit limits.
Mine’s pretty low, but adequate for my needs.
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I got rejected for Monzo flex the other day so I think a lot of borrowing with fintechs is a bit of a lottery.
Mine is £500! Useless, really. My other cards are more like £10k at the low end. I do understand the points above about their lending policy being tighter as a new entrant, but extremely low limits make Tymit very unattractive at the moment
Yes as soon as you pay back we will free up your credit just like any other credit card out there.
Exactly as @MichaelC stated that any overpayment won’t count as “paying” your next bill until the current one you are on has been closed.
Thanks @Pipo, but am I the only one confused by this?! I feel like I’m missing something super obvious, but I just can’t work it out 
Perhaps time for bed
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In simple terms we are showing you, the customer, that the next bill “could” be partially covered by any excess you may have from paying the previous bill.
However, since you may still make purchases or changes to existing plans until the bill closes, we don’t lock that excess in to the next bill until the previous one is closed (and clearing/refunds/etc have had time to settle).
It’s a simple thing that sounds complicated 
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