What proportion of credit card credit to your income do you have available?

Percy1983

Total available credit on cards £21300... 114% of my gross salary.

As it is I am cancelling £4k worth as the cards are empty and no use, and the others are way off there limits and going down nicely.

I will add £5500 of that available has been added in the last 6 months as i went for a few 0% deals.

It would appear I must have a healthy credit file.

lisyloo

Hi Curt

How comes you plan on keeping the Egg and will get rid of the Amex?

Amex 5% is for 3 months only.
So I close down and get another one (I'm on third time round).

Even after the 3 month period is up the general rebate allowance for Amex is better than the Egg one, no?

Not for me no.
I won't get into the 1.5% band.
Egg is 1%.
Amex is 1% but only on whole pounds, so slightly worse (and not accepted everywhere).

Not to mention Egg has a fee for the card doesn't it?

Mine doesn't. I took it in 2006, but yes, new ones would, so you need to factor that in.

Or is it to do with the fact Amex is not so widely accepted? Just intrigued.

Egg is my best on-going cashback card for my situtaion (no egg fees adn won't get into AMEX 1.5% band).
If I close AMEX I can re-apply for the 5% in time (on the 3rd go) but you must close to re-apply.

Hope that explains it.
To summarise, it ain't gona be the same for everyone and remeber that some people will be on old (perhaps better) deals.

lisyloo

Hi joe,

we get points on our card which pay for flights, hotels etc, we are happy with this

Fine if you are happy.
My own experience is that cash beat points everytime, but if you're happy that's the main thing.
What suits some people doesn't suit others.
I'm not a loyal customer so points don't work for me as I don't tend to spend with the same retailers.

when we travel we take around £500 in cash and pay for the rest on Visa, it's easier

Again up to you, but carrying cash does carry a risk.
You are possibly paying a loading on your visa for purchases (probably around 3%).
If you're happy then fine, but many people get a 0% foreign card for this, but it does depend on how much you travel as to whether it's worth it.