Credit Card Limit

chubbler

I have an MBNA card with a ridiculous £21,000 limit, I have never used even half of that. Although I have an excellent credit rating, according to Experian, one negative is the amount of unused credit I have. If I asked MBNA to reduce my limit would that have an adverse effect on my credit rating? i.e would other lenders see that the limit had been reduced on my record without explanation it was at my request.

Any thoughts?

[Deleted User]

It wouldn't show whether you had reduced it or MBNA had.

But assuming that you don't have a balance anywhere near the new limit, and the limit is still a healthy amount, it shouldn't be an issue.

thenudeone

Just be aware that some card companies automatically do a credit check whenever ANY limit change is requested, whether up or down. So you could ask for it to be reduced to £10k only to find they reduce it to £2k or less!

I don't know what mbna's policy is -anyone help?