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Increased credit limit, should I wind it in to help future applications?
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tomstickland
Posts: 19,538 Forumite

Lloyds have kindly written to tell me that they'd like me to spend more of their money for them. It's no use though, the 0% deal ends next month. Should I phone up (got to use saynot0870) and ask them to, instead, reduce the limit to the current outstanding balance? I want to maximise any future credit limits on new cards now that this has outlived it's welcom.
Happy chappy
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They've been very good to me with repeat 0% fee-free offers, so I'd be tempted to get it increased now - just in case!
Having a higher limit sometimes does help with other applications. For example, the Co-op run cards say they'll 'look' to match your highest limit elsewhere.
Either way, if you do close the account, whatever limit you finish up with will still take the usual 1-2 months to be shown as 'settled', and therefore no longer available to you, with the CRA's.
EDIT: When/if you do come to make the 'repeat' call, the retentions department can be contacted on 0800 032 2044.0 -
OK, thanks, so just leave it alone is best you think?Happy chappy0
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tomstickland wrote:OK, thanks, so just leave it alone is best you think?0
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