Credit Card limits and Credit Score

carrieuk

Hi,

I was just wondering if my credit card limits have anything to do with my Credit score?

At the moment I have £500 on a credit card and a £2000 overdraft, I have reduced my credit card by £1000 in 3 months. I recently applied for a tesco credit card to transfer my balance from my current credit card (with Natwest) to the new Tesco's one on a 0% rate.

Tesco's have limited me to a £300 limit which of course scuppers my idea. Is this just a introductary limit or will this be my actual limit?

My available credit on experian is about £1800, does this mean I can have another £1800 on credit cards before they get declined.

Sorry, these are probably novice questions.

Also another note, can me and my fiance have a joint credit card? He's got nearly £2000 on his credit card and I want to be able to make payments from my salary towards it (we are moving into a new house) and we have a joint account but not a joint credit card.

Any help would be appreciated

Thanks

Caroline

brians_daughter

carrieuk wrote: »

Hi,

I was just wondering if my credit card limits have anything to do with my Credit score?

At the moment I have £500 on a credit card and a £2000 overdraft, I have reduced my credit card by £1000 in 3 months. I recently applied for a tesco credit card to transfer my balance from my current credit card (with Natwest) to the new Tesco's one on a 0% rate.

Tesco's have limited me to a £300 limit which of course scuppers my idea. Is this just a introductary limit or will this be my actual limit?

My available credit on experian is about £1800, does this mean I can have another £1800 on credit cards before they get declined.

This means you have £1800 credit available on the credit facilities you currently hold.
Sorry, these are probably novice questions.

Also another note, can me and my fiance have a joint credit card? He's got nearly £2000 on his credit card and I want to be able to make payments from my salary towards it (we are moving into a new house) and we have a joint account but not a joint credit card.

Yes, he can ask if his provider will issue a 2nd user card. But beware it will not impact your credit, he will be responsible for the bill and vice versa if you do it for him. You dont need to be a card holder to make payments you just need his account number to pay off what you want to

Any help would be appreciated

Thanks

Caroline

Hi Caroline, answered in bold above