Available Credit

keadd

Hi there,

I have been reading that it is possible to have to much available but unused credit. Which can impact a desision when applying for new credit.
At the moment I have 7k available over 3 card. I have about 2k used leaving around 5k unused.

Should I be closing one of these cards before applying for more credit? They all offer something I need/want.

Your help would be appreciated!!

Thanks:j

keadd

by the way I am earning 18k per year

olly300

No one can really answer that for you as it depends on things like what consumer profile the card company is after, and various other factors like whether you are a home owner, where you live, etc.

For example you will hear people on this board complaining because they pay off their cards and their credit limit is immediately decreased but I've have my credit limit increased by 2 other card companies this year when I paid off another card in full and I've had a late payment. So what happens to one person is not necessarily going to match what happens to you.

Moggles_2

Three credit cards in total is not excessive. I believe the national average is five and many of us here have seven or eight credit cards on the go. As long as you're getting the cards and credit limits you want, I wouldn't rush to close one down, particularly as all three offer something you want.

That said, with each successful credit card application, your available credit will increase in relation to your income and there will come a point in the future when you must consider closure.

Mozette

As others say, every case is different, but in my own experience I would think you are fine as you are at the moment.

keadd

thnaks! ive just noticed i brought my car insurance on my card today, totaling 342.30 and they emailed a receipt. on the new barclaycard website it says my pending transactions are .61p more than this??? i know its not much but is there a reason?????? its the first time i have used this new card.
thanks

keadd

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