Available Credit Info - Good or Bad?

helpwithcredit

First time poster, long time lurker

I've got my credit report details of mine and my partner's accounts and they are as follows where * means they are joint account:

MINE

Type Credit Curr Balance
Bank Account* 1100 0 [Always positive]
Bank Account* 300 0 [Always positive]
Credit Card 3000 0
Mortgage* 72114
Credit Card 4000 0
Credit Card 6900 0
Credit Card 15000 9572
Credit Card 3500 1053 (Cashback card paid full)
Credit Card 1600 0
Credit Card 2500 0
Credit Card 1200 0
Bank Account 0 0 [Always positive]

PARTNER

Type Credit Curr Balance
Bank Account* 1100 0 [Always positive]
Bank Account* 300 0 [Always positive]
Bank Account 0 0 [Always positive]
Bank Account 500 0 [Always positive]
Credit Card 3000 0
Mortgage* 72114
Credit Card 1600 0
Credit Card 6000 795

Income is from myself only at 38K; partner a home-maker (no benefits claimed).

No bad markers on accounts, all accounts up to date and above minimum always paid and most full payment made.

Will be looking to re-mortgage end this year / start next year. Maybe a new credit card for better cashback benefits.

Can you advise if

• Need to close any accounts
• Reduce any credit limits
• If the current limits/balance/income is ok

Let me know if you need anything else from me

bankhater_1965

how do you sleep at night ??

helpwithcredit

bankhater_1965 wrote: »

how do you sleep at night ??

By closing my eyes.

jon142

You have £37,700 available with all your credit cards added up on a £38,000 salary that is ridiculous.

Ifyp you maxxed all them out you wouldn't be able to afford to repay them. I would close all cards with a 0 balance and maybe get a capital one aspire world card.

£12,000 limit.

Cash_Flow

helpwithcredit wrote: »

First time poster, long time lurker

I've got my credit report details of mine and my partner's accounts and they are as follows where * means they are joint account:

MINE

Type Credit Curr Balance
Bank Account* 1100 0 [Always positive]
Bank Account* 300 0 [Always positive]
Credit Card 3000 0
Mortgage* 72114
Credit Card 4000 0
Credit Card 6900 0
Credit Card 15000 9572
Credit Card 3500 1053 (Cashback card paid full)
Credit Card 1600 0
Credit Card 2500 0
Credit Card 1200 0
Bank Account 0 0 [Always positive]

PARTNER

Type Credit Curr Balance
Bank Account* 1100 0 [Always positive]
Bank Account* 300 0 [Always positive]
Bank Account 0 0 [Always positive]
Bank Account 500 0 [Always positive]
Credit Card 3000 0
Mortgage* 72114
Credit Card 1600 0
Credit Card 6000 795

Income is from myself only at 38K; partner a home-maker (no benefits claimed).

No bad markers on accounts, all accounts up to date and above minimum always paid and most full payment made.

Will be looking to re-mortgage end this year / start next year. Maybe a new credit card for better cashback benefits.

Can you advise if

• Need to close any accounts
• Reduce any credit limits
• If the current limits/balance/income is ok

Let me know if you need anything else from me

I can only see the limits being a problem if [1] You can't resist a spending spree or [2] you are looking to obtain another credit card?

If lenders thought your personal exposure was too high they would reduce the limits automatically.

The card with the balance of £9500 I trust you are not paying any interest on that balance? If you are why not phone your other lenders for a balance transfer offer.

helpwithcredit

jon142 wrote: »

You have £37,700 available with all your credit cards added up on a £38,000 salary that is ridiculous.

Ifyp you maxxed all them out you wouldn't be able to afford to repay them. I would close all cards with a 0 balance and maybe get a capital one aspire world card.

£12,000 limit.

Most are old cards that are still active but not used. I would never max them out; in fact the majority of them I don't have cards for anymore.

If I reduce my overall limit to 12,000 that would mean about 83% of my limits being used; would this look favourable?

helpwithcredit

Cash_Flow wrote: »

I can only see the limits being a problem if [1] You can't resist a spending spree or [2] you are looking to obtain another credit card?

If lenders thought your personal exposure was too high they would reduce the limits automatically.

The card with the balance of £9500 I trust you are not paying any interest on that balance? If you are why not phone your other lenders for a balance transfer offer.

I won't be using them for a spending spree so no issue there. Most of them are old cards and been used for some form of loyalty in the past, cashback, loyalty points etc.

The £9500 is interest free and then goes to 6.9% for life at the end of it; I got a great deal on this a while ago.

molerat

I would be tempted to reduce to around 16-19K which would give you less % used still with a good ratio to income but with plenty available if !!!! happens. 12K only gives you 2.5k available credit.

Cash_Flow

helpwithcredit wrote: »

Most are old cards that are still active but not used. I would never max them out; in fact the majority of them I don't have cards for anymore.

If I reduce my overall limit to 12,000 that would mean about 83% of my limits being used; would this look favourable?

It just goes to show how careful you need to be when considering the advice of posters on this site.

helpwithcredit

Thanks for the assistance.

Some of the cards are open for particular reasons as follows:

Type Credit Curr Balance
Bank Account* 1100 0 [Always positive]
Bank Account* 300 0 [Always positive]
Credit Card 3000 0 No charges for foreign money
Mortgage* 72114
Credit Card 4000 0 Can be closed as was just for the initial loyalty bonus
Credit Card 6900 0Can be closed as generally not used but do get BT offers on it
Credit Card 15000 9572
Credit Card 3500 1053 (Cashback card paid full)Main card as get cashback
Credit Card 1600 0 Open as MBNA and get BT offers
Credit Card 2500 0Open as MBNA and get BT offers
Credit Card 1200 0Can be closed as was just for the initial loyalty bonus
Bank Account 0 0 [Always positive]