Automatic credit limit increase - should I say no?

Hannie_2

My credit card company (Lloyds TSB) has sent me the usual letter advising that they are going to increase my credit limit at my next statement date. They've provided a slip to fill in and send back if I don't want it increased. I can manage without the increase but it might be worth having in an emergency. My question is, if I do nothing will the increased credit limit affect my already poor credit rating?

Thanks

Hannah

[Deleted User]

You're not giving us much to go on here!

What's your current limit, how much do you owe, what other cards do you have and how much do your earn?

However, as a rough guide, no it will not damage your credit record to have a higher limit. So long as you don't use it to spend more than you can afford of course.

Provide the details mentioned above if you would like us to look at it in more detail but I expect you don't have to concern yourself - either way it is unlikely to make much difference. By the way, if Lloyds are increasing your limit, what makes you think your current credit is poor?