Should I Reduce My Credit Limit??

powellypowelly

Hi,

I've got some 0% credit card deals coming to an end in the middle of this year, and I'm trying to make my finances look as attractive as possible so I can move to another 0% deal.

My options are:

1) Reduce my current card/OD limits by a total of £5k, which would mean £29k of total credit, with 69% used.

2) Leave the limits as they are so I'm only using 59% of my available credit, but keep a higher £34k overall limit.

3) Don't worry about it because it doesn't matter.

Does anyone know what looks better?

StrangelyBrown

I'm no expert, but whether you have £29k or £34k available on credit cards, it's still a lot of credit!

So I'd not think it'll make that much difference.

A bit like asking if it's better to spend £450,000 on a house or get the cheaper £445,000 one - either way, it's still 'a lot' of money.