Credit Limit Reduction

Stoneman_2

If I reduce my credit card limit, how long does it take before it will show on a credit report (Experian for example)?

Am thinking of reducing the limit so that it doesn't count against me when applying for new credit card, but don't want to apply to early for the new one if it takes months to show up.

YorkshireBoy

The (albeit very vague) answer is anywhere from a few days* to 4 months**.

So the best approach would be to order a £2 statutory credit report and keep ringing Experian for an update on the credit limit for that particular entry on your report. You can query one of these reports for up to 90 days after ordering.


* If the once per month CRA update takes place the day following the limit reduction.

** In my experience LTSB often run 3-4 months behind with their CRA updates. I've had to twice raise formal complaints, threatening them with the FOS and ICO, in order to force them to ensure my CRA data was accurate.

Stoneman_2

I've recently had a report from Experian, so will reduce the limit on Tuesday and contact them in a few weeks.

ironlady2022

As far as I know reports gets updated every month