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Couple of basic credit questions pls!
MudHide
Posts: 8 Forumite
in Credit cards
Hi
This is my first post, fairly new to MSE and also fairly new to taking my finances seriously!
I have a couple of questions please, one about credit cards and one about my overdraft.
Q1. I have three credit cards - one for emergencies with a small limit, an Amex with a 2300 limit and a Halifax Mastercard with a 7000 limit. I always pay my cards in full each month. This weekend I received letters from Amex and Halifax, both dated 6 September, Amex wanting to increase my limit to 4600 and Halifax to 8000. Surely this can't be a coincidence, have they been routinely sharing information on me, even though I don't have 'bad' credit?
Q2. I have a 500 pound overdraft on my bank which I have no intention of using. Will it be better from credit score purposes for me to get rid of it?
Apologies if these questions are repetitions of previous threads!
M
This is my first post, fairly new to MSE and also fairly new to taking my finances seriously!
I have a couple of questions please, one about credit cards and one about my overdraft.
Q1. I have three credit cards - one for emergencies with a small limit, an Amex with a 2300 limit and a Halifax Mastercard with a 7000 limit. I always pay my cards in full each month. This weekend I received letters from Amex and Halifax, both dated 6 September, Amex wanting to increase my limit to 4600 and Halifax to 8000. Surely this can't be a coincidence, have they been routinely sharing information on me, even though I don't have 'bad' credit?
Q2. I have a 500 pound overdraft on my bank which I have no intention of using. Will it be better from credit score purposes for me to get rid of it?
Apologies if these questions are repetitions of previous threads!
M
0
Comments
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This weekend I received letters from Amex and Halifax, both dated 6 September, Amex wanting to increase my limit to 4600 and Halifax to 8000. Surely this can't be a coincidence, have they been routinely sharing information on me, even though I don't have 'bad' credit?
It surely can, and it is.Q2. I have a 500 pound overdraft on my bank which I have no intention of using. Will it be better from credit score purposes for me to get rid of it?
I would keep it and not use it. Shows you are trusted, but in control of your finances.0
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