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Reducing Credit Limit Help!
hayleyfrench01
Posts: 3 Newbie
I had a Credit account witb Littlewoods and have recently paid off the entire balance 
yay :j but to my dismay, littlewoods have refused to reduce my credit limit of £1375 as it is classed as 'historical information' and have been told by Equifax that they are not allowed to remove peoples credit limits even thought ive closed and settled my account because they have to see what credit i had?!! but surely being a credit reference agency they would see the credit i had by the amount i have settled in full? I have emailed them had numerous arguments over the phone about this and there just plain refusing to get rid of it, im worried that by them not removing it as availble credit that it will show on my credit score that this amount is still availble and would be deducted from the availble credit i would be allowed.
Any help would be greatly appreciated! :T
yay :j but to my dismay, littlewoods have refused to reduce my credit limit of £1375 as it is classed as 'historical information' and have been told by Equifax that they are not allowed to remove peoples credit limits even thought ive closed and settled my account because they have to see what credit i had?!! but surely being a credit reference agency they would see the credit i had by the amount i have settled in full? I have emailed them had numerous arguments over the phone about this and there just plain refusing to get rid of it, im worried that by them not removing it as availble credit that it will show on my credit score that this amount is still availble and would be deducted from the availble credit i would be allowed.Any help would be greatly appreciated! :T
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Comments
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Why do you want it removed?Hope over Fear. #VoteYes0
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its sais my availble credit is £1375 but i dont want to have any availble credit as ive paid it all off now and would like it reduced to £0 plus ive been told that as it is shown as availble, it will reduce the amount of credit i could get for the future0
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Presumably because the amount of available credit has an impact on what else you apply for.
If the account is closed, it should show up on the credit report as settled/closed. Does it not just take a few weeks for the info to filter through?0 -
littlewoods have said that it will show as settled in upto 6 weeks but my availble credit with them will still show as they cannot remove it??!!0
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It will show the available credit you HAD with them, but that is no longer available to use since the account is "settled", ie closed.hayleyfrench01 wrote: »littlewoods have said that it will show as settled in upto 6 weeks but my availble credit with them will still show as they cannot remove it??!!
The fact it remains is good, because it shows you managed the account well (assuming you did?)...and other lenders like to see settled accounts that have been managed well when searching your file for credit application purposes.
Panic over?0
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