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Sorting out my Debts - advice and comments neede
vyvyan_2
Posts: 653 Forumite
I have a Barclaycard and I see that if you log into my account on their website that you can choose to reduce your credit limit. I want to do this regularly while I work on my debt and to reduce my available credit.
Can I do this any number of times as and when or is there any restrictions to doing this too often?
Does doing this show as a search on your credit history? Probably a silly question but to hell with pride.
My balance is £7467.45 with a credit limit of £8400 I aim to keep a bit of leeway to allow for interest. APR is 14.9% but I’m waiting to hear back from them to see if they will reduce this or I will start looking at lower LOB cards or 0%’s for some or all of that balance. I have a ‘Fair’ credit rating of 736 according to Credit Expert from Experian. Do I stand any chance of moving this debt around?
I have a capital one card (limit £1500) which I pay off each month and I use it mainly for online stuff.
Recently, ie. within the last month, I’ve settled and cancelled some store cards and cancelled some old deadwood/ dormant credit cards. By doing this I’ve freed up available credit by £9200. I believe this will take a few months to take effect on my credit score.
Am I doing the right things? Should I post this on the DFW board? I have moved this to DFW to spread my chances for answers! Sorry for double posting.
Can I do this any number of times as and when or is there any restrictions to doing this too often?
Does doing this show as a search on your credit history? Probably a silly question but to hell with pride.
My balance is £7467.45 with a credit limit of £8400 I aim to keep a bit of leeway to allow for interest. APR is 14.9% but I’m waiting to hear back from them to see if they will reduce this or I will start looking at lower LOB cards or 0%’s for some or all of that balance. I have a ‘Fair’ credit rating of 736 according to Credit Expert from Experian. Do I stand any chance of moving this debt around?
I have a capital one card (limit £1500) which I pay off each month and I use it mainly for online stuff.
Recently, ie. within the last month, I’ve settled and cancelled some store cards and cancelled some old deadwood/ dormant credit cards. By doing this I’ve freed up available credit by £9200. I believe this will take a few months to take effect on my credit score.
Am I doing the right things? Should I post this on the DFW board? I have moved this to DFW to spread my chances for answers! Sorry for double posting.
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