Increased credit limit, should I wind it in to help future applications?

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

Replies

  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    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.
  • tomsticklandtomstickland Forumite
    19.5K Posts
    10,000 Posts Combo Breaker
    OK, thanks, so just leave it alone is best you think?
    Happy chappy
  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    OK, thanks, so just leave it alone is best you think?
    I would......
This discussion has been closed.
Latest MSE News and Guides

Fans demand refunds from Leeds Festival

...after Rage Against The Machine pulls out

MSE News

The 'Ask An Expert' event

Check out last week's energy-themed Q&A with MSE's experts

MSE Forum

Free museums & galleries

Where to get your culture fix across the UK

MSE Deals