Credit Limits and Credit Ratings

Poolman99

I just asked Barclaycard to drop my credit limit from 13k to 6k (I have about £400 on it now, but intend using the spare capacity for a super balance transfer when the £400 is paid). I also asked Mint to drop my limit from 6.9k to 2k.

I did this because I suspect these high limits have stopped Cahoot and Northern Rock offering me a £15k or so loan (they will only offer £10k). I earn 32k a year, no bad credit etc so should reasonably expect to be leant 15k by one of them.

Is that a good move? Will the decreases in my credit limits with Barclaycard and Mint have done my chances any good?

Thanks

Robert_Sterling_3

Is that a good move?

If you find out from your own experience please let us know.
No doubt someone else with tell you of their experience shortly.

deemy2004

Is that a good move? Will the decreases in my credit limits with Barclaycard and Mint have done my chances any good?

Thanks

Yes good move, though If I stopped using the card a better move would be to close it completely would show on your credit history as a settled account.