Credit agencies raising credit limits - damaging to file?

MrsKrepsly

I've recently been refused part of a joint mortgage. As a result my partner has had to apply as a single application.

I'm gutted as I always thought I had a good credit history - never missed a payment, plenty of credit given and paid off - accounts settled - I just don't get it.

Part of me is wondering if it's due to me already having too much available credit?

When I first got my NEXT card they gave me a credit limit of around £300 - within a year this had risen up to £3800. I contacted them and asked them to reduce it back down to £500 which they did and after this mortgage fiasco I checked all my accounts to realise they'd recently increased it to £5000!!! a ridiculous amount of money for what is essentially a clothes shop.

My Barclaycard also increased my credit limit to £5000 so there's £10k available just with those two accounts. I also have £400 available on an argos card and £500 available on a Natwest credit card.

Could it be too much credit that is damaging my file? Would it have a detrimental effect if I got Next to reduce the limit again?

[Deleted User]

£10k isn't a huge amount. But it might be worth getting Next to reduce it and ask to opt of any further increases.

But it's not going to be a primary factor in your mortgage decline.

guesswho2000

As ZX81 says, the high limits are unlikely to be the reason for the decline of your motgage - is there anything else lurking on your files? Missed/late payments, defaults?

I've read that Yorkshire Bank/Building Society (I forget which one) get funny about having too much available credit, but not others. I may be wrong, but Nationwide approved my mortgage with almost the equivalent of my salary in available credit.