Balance/Credit ratio question

Legacy_user

I've read that having a high balance/credit ratio is bad, but also having a really low one is bad as well

I got a new credit card, and will only be using this one (0% purchases for a year), so with my old HSBC card (cancelling my LTSB one) should I get the limit reduced to £500 or less or something? None of my cards have a balance on, and ideally this one never would (still got my debit cards if something happens to my credit card)?

Also, if I have a store card with a positive balance on it (paid it off then returned something) do I need to spend that, or can I cancel the card and get it paid into another account?

System

Bump

I'm not too bothered about the balance/credit thing now (unless someone knows), but can I get the balance on my store card paid into my bank?

CLAPTON

just use your new card for purchases and use the money 'saved' to pay off the store card
of course after a year you will need to pay off the credit card of pay a high APR

no real substitution for paying the debt off but worthwhile to pay minimum interest

System

Sorry, don't think I was that clear

My store card has a limit of £250, but there's like £275 credit available on there (bought something, paid the card off then got a refund) so I was wondering if I could close the account and have them pay the extra money to my bank

As for the HBSC card, no money owed on there either, I was wondering whether to get the limit reduced as hopefully I won't need to use it at all