Bank has reduced my Credit Card limit

[Deleted User]

I think 15-20% would be fine. Certainly stay well under 50%. As you say, it shows you can have credit available but not rely on it. That, combined with full payments and no lates or overlimits, demonstrates a solid, stable, reliable customer. A guaranteed no risk, moderately profitable customer over a long period is attractive to the banks.

Contrary to popular belief, they DON'T want all their customers making minimum payments and incurring late fees. A significant % of those customers end up going pop in a spectacular and unattractive way.

pearls_of_wisdom

Deleted_User wrote: »

I think 15-20% would be fine. Certainly stay well under 50%. As you say, it shows you can have credit available but not rely on it. That, combined with full payments and no lates or overlimits, demonstrates a solid, stable, reliable customer. A guaranteed no risk, moderately profitable customer over a long period is attractive to the banks.

Contrary to popular belief, they DON'T want all their customers making minimum payments and incurring late fees. A significant % of those customers end up going pop in a spectacular and unattractive way.

thankyou for clarification zx81

emma1983_2

Just an update on my situation with my Halifax credit card - I received another letter from them saying they made a mistake and have given me back my original credit limit... morons.