barclaycard

PROLIANT

daveboy wrote: »

This is upper-class language for 'I am much better off than nearly everyone else on here".

Now now, let's not get biatchy, it's only Tuesday...personaly I don't think the "upper-class" lot would show their face on here, they are too busy sorting out cream-tea's and dinner parties to entertain the "Is that a Black-Centurion in your pocket or are you just glad to see me" crowd.

speedbird1973

As I've said before Proliant, I have an Amex Centurian card - by virtue of the fact my best mate was in charge of marketing it. Be careful about making assumptions towards people with Black Cards!! lol

PROLIANT

speedbird1973 wrote: »

As I've said before Proliant, I have an Amex Centurian card - by virtue of the fact my best mate was in charge of marketing it. Be careful about making assumptions towards people with Black Cards!! lol

Don't take , I was only joking on and trying to make light humour, even though I am a common Geordie scum-bag I don't discriminate between classes of folk.

Moggles_2

brookerbabyisababy wrote: »

I didn't know lowering your limit could lower your credit score

Bear in mind that potential lenders cannot assess the way you handle credit directly. The best indication they have is the payment history and credit limits on your existing cards with other lenders.

Other things being equal, it's better (credit score-wise) to have fewer cards with higher limits, than a clutch of cards with lower limits. So, if you want to reduce your available credit, it's better to cancel a card completely, as Martin advises.

Cards that are closed down and marked "settled" stay on your credit file for six years and indicate that you can handle a higher credit limit well

Bismarck

PROLIANT wrote: »

Don't take , I was only joking on and trying to make light humour, even though I am a common Geordie scum-bag I don't discriminate between classes of folk.

nice fence!

the debate about 4K being a modest limit is relative to your ability to pay it off. There still seems to be a preponderance of providers giving people plenty of rope to hang themselves with - as long as they've shown they can make payments they seem happy to dish out higher limits......that said, £4K is a lot when you've not got it and will have to struggle to pay it back....

brookerbabyisababy

do lenders take into account catalogue accounts (littlewoods, next, freemans) when deciding to lend in respect of payments and limits or is it just credit cards and bank accounts?

PROLIANT

brookerbabyisababy wrote: »

do lenders take into account catalogue accounts (littlewoods, next, freemans) when deciding to lend in respect of payments and limits or is it just credit cards and bank accounts?

Yes they do, a score card tot's up all of your lines of credit; cards, overdraft, mailorder etc then gives a total available level of credit, then your annual income is put with this to work out a debt to income ratio and generally this should not be any greater than 20-25%.

MABLE

When I first had an Access card issued in the early 70's my limit then was £140. This was issued by Lloyds. The equivalent card I have with them now has a credit limit of £18,000. Ok to some it may be a modest limit but it suits me fine!

andrewmp

PROLIANT wrote: »

Yes they do, a score card tot's up all of your lines of credit; cards, overdraft, mailorder etc then gives a total available level of credit, then your annual income is put with this to work out a debt to income ratio and generally this should not be any greater than 20-25%.

Is this right? Ive got combined credit card limits which far exceed my salary, all of which have zero balances. I've just got a mortgage offer ok though?

PROLIANT

andrewmp wrote: »

Is this right? Ive got combined credit card limits which far exceed my salary, all of which have zero balances. I've just got a mortgage offer ok though?

Sorry I need to re-phrase that, I meant actual debt owed not credit limits, please accept my sorry's for my typo.