Lowering your credit limit yourself

cooltt

Just a quickie, does effect your credit rating if you lower the credit limt on your card's youself?

CLAPTON

not as such
however the CC company may credit check you are reduce it more than you asked

YorkshireBoy

If you are carrying a balance, on this or other cards, then lowering your limit on one or more cards will increase your ratio of used to available credit.

It may make you appear over-indebted in a Consumer Indebtedness Index (CII) score (which Experian et al provide to the lenders), and so could adversely affect your credit rating.

cooltt

Mmmm....interesting, i remember reading something about it appearing as a limit lowered on your credit file but doesn't distinguish if the customer requested or the CC did it so could look like you were in trouble.

Yes i know what your refering Yorkshire boy, i forgot about that.