Need help with a letter

nhsgirl

Hi

No not collecting cards to play snap with think I would need more than 3 ;)

If I call to reduce the limits on my accounts will that affect me IF i apply for credit in the future !!

Thanks

Tixy

If you just want the sainsburys card for nectar points and you pay in full each month is a £500 limit not enough? how much do you spend in sainsburys a month?
even if you do spend over £500 (which seems a lot unless you are feeding a large family) all you would need to do is make an extra payment mid month to bring the balance back down.

nhsgirl

Hi

Thank you for your comments, But I did ask by reducing my credit limits will this affect me getting credit in the future.

Thanks

Tixy

If you apply for credit in the future then the potential lender will base that decision on your income, your level of debt, your credit history, your total available credit at that point in time.

Given the other info you have posted reducing your credit limits is more likely to make it easier to get credit rather than harder.

nhsgirl

Hi

Thanks for your advice, I have now reduced my next from 4000ish to £1000, Tesco's from £3000 to £1500, Barclaycard from £3000 to £2000.

Hope this starts to sort me out

eschaton

nhsgirl wrote: »

Hi

Thanks for your advice, I have now reduced my next from 4000ish to £1000, Tesco's from £3000 to £1500, Barclaycard from £3000 to £2000.

Hope this starts to sort me out

Why do you need to keep these cards at all if you don't use them? Tesco & Barclaycard?

Cancelling them would make more sense.

nhsgirl

Hi

Not cancelling my next account has I use all the time and pay off in full every month.

I will hopefully be cancelling my barclaycard but am not sure what to do for the best just worried that if anything comes up in the future and i need it !! Emergencys !!

Mmmm

eschaton

nhsgirl wrote: »

Hi

Not cancelling my next account has I use all the time and pay off in full every month.

I will hopefully be cancelling my barclaycard but am not sure what to do for the best just worried that if anything comes up in the future and i need it !! Emergencys !!

Mmmm

I said Tesco and Barclaycard, not Next.

Start saving and use that for emergencies. No point living in credit whenever you need to buy something.

Ben8282

I think your plan is very dangerous and may well result in your loosing the credit available to you on the Tesco card and not getting any credit limit increase from Sainsburys. I would not recommend this course of action especially if it is only for a few extra nectar points. Plus, if you want these points so badly, use the Saninsburys card up to limit (how much do you spend per-month in Sainsburys anyway?), pay it in full at that point even if the statement has not been issued, then carry on spending.