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  • FIRST POST
    • aaz01
    • By aaz01 14th Mar 17, 10:44 AM
    • 40Posts
    • 1Thanks
    aaz01
    Credit utilisation
    • #1
    • 14th Mar 17, 10:44 AM
    Credit utilisation 14th Mar 17 at 10:44 AM
    I've got HP finance on my car, a bank loan and a credit card which I'm using for a 0% balance transfer (still got over a year to go before I need to move the balance to a different balance transfer offer).

    I also have 4 other credit cards which were previously used for balance transfer offers, but have been empty since those offers expired.

    Including all of those cards I have around £40k credit available - of which I'm using around £15k.

    I would like to buy a replacement car (£10k-ish) on finance, but it will need to be approved before my current car is sold and finance settled.

    Am I more likely to be offered a good rate if I have lots of available/unused credit? Or should I first close the old credit cards to reduce the amount of available credit I have?
Page 1
    • foxy-stoat
    • By foxy-stoat 14th Mar 17, 11:00 AM
    • 1,535 Posts
    • 828 Thanks
    foxy-stoat
    • #2
    • 14th Mar 17, 11:00 AM
    • #2
    • 14th Mar 17, 11:00 AM
    Not sure if it really matters as the likely factors will be current debt and salary and past credit history.
    • Gaz83
    • By Gaz83 14th Mar 17, 12:28 PM
    • 3,515 Posts
    • 6,689 Thanks
    Gaz83
    • #3
    • 14th Mar 17, 12:28 PM
    • #3
    • 14th Mar 17, 12:28 PM
    Every lender will have their own lending criteria, and they don't make this criteria public.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
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