12k credit limit - crazy!

cceg

I had some credit cards that were not in use, so i called the bank cancelled them and told them i wanted to keep one card with a £5000 limit on for everyday use. Paying it off every month - only really spent about £500 pcm on it. Rest of money is there for an emergancy.

Anyway, while i was on the phone i told them i ha switched jobs and had a disabled child so had given up most of my work hours to looking after him. Fair enough. I now earn about £4000 per year, and told them so.

Got a letter this morning saying they were upping my limit to £12,000!
Thats crazy- thats 3 years what i earn!!

I'm very good - i wont use it and get into debt, but is it best to stick to my £5000, or keep it as it is.
We are moving soon and was wondering if it would look better on my file, or doesnt really effect it? ( Not borrowing more money, just porting )

CLAPTON

if your income is 4,000 per annmum, how do you spend and pay off 500pm on a CC?

cceg

CLAPTON wrote: »

if your income is 4,000 per annmum, how do you spend and pay off 500pm on a CC?

My husbands income is good

paulmcerlean

Having a huge credit line like that does NOT look good on your file - it could, with your income, hinder your chances of future credit as you have a large amount of available credit already, even if, not using it, it is exposure.

izools

Which credit card provider has furthered you this line of credit?

CLAPTON

cceg wrote: »

My husbands income is good

maybe they took your husbands income into a/c

Ansu

CC companies are well aware that people often lie about their income, therefore will usually take what you say as a pinch of salt. They will base their decisions on your actions, and if you're paying £500.00 per month that would suggest you may be able to manage a 12k limit.

Also, it is only a limit, if you don't think you can handle it don't spend it or request that they reduce it.

cceg

Barclaycard.

I've just called them and asked them to put it back to £5000.
No problems.