We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Lowering your credit limit yourself
cooltt
Posts: 852 Forumite
in Credit cards
Just a quickie, does effect your credit rating if you lower the credit limt on your card's youself?
0
Comments
-
not as such
however the CC company may credit check you are reduce it more than you asked0 -
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.0 -
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.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards