Credit card credit increase!!

beanielou

Have been paying down my credit card as fast as I can as my income is going to be reducing.
CC company have just increased my limit by 2k!!!!
Hey ho.

wizzywig27

Who is the card provider?

reclusive46

I wouldn't be complaining, it will probably improve your credit as it will look like your using less of your total available credit.

grumbler

beanielou wrote: »

Have been paying down my credit card as fast as I can as my income is going to be reducing.
CC company have just increased my limit by 2k!!!!

And the problem is...?
Would you expect the limit to be increased if you hoover near the limit? This was a pretty reasonable decision especially as they most likely didn't know about changes in your income.

And, after all, a limit is just a limit.

northerner999

Tesco sent me a letter saying my limit was going up by £2K. As suggested above, would letting the limit go up improve a credit score as you're borrowing less of your limit?

Ultimately I decided to opt out, I'm on 0% transfer rate but decided to pay off completely rather than transfer again, but am interested in how it would have impacted by credit score.

You-kip

northerner999 wrote: »

Tesco sent me a letter saying my limit was going up by £2K. As suggested above, would letting the limit go up improve a credit score as you're borrowing less of your limit?

Ultimately I decided to opt out, I'm on 0% transfer rate but decided to pay off completely rather than transfer again, but am interested in how it would have impacted by credit score.

You don't have a credit score there's no such thing.

Naf

Barclaycard have just upped my limit by another £1,500.
Hoping they'll offer some BT deals for me soon...