Too Much Available Credit? - UPDATED please help!

cakeforbrains

deleted sorry

YorkshireBoy

Used credit to available credit is just one ratio lenders use when credit scoring. They'll also compare both the above to income, ie

Used credit to income, and
Available credit to income

So without knowing your husband's income it's impossible for anyone here to suggest what he might do with the limits...other than if you do trim them, don't go too far as 36% used to available could soon become 65-70% used to available - and that will look a whole lot worse than 36%.

YorkshireBoy

So £26K doesn't look so bad then, in isolation from all your other financial circumstances, in that it's less than half his income.

jonesMUFCforever

There are 2 ways for a lender to look at this.
If he is using £9.5k against £26k you are correct in saying 36% of available credit used. Not a bad ratio IMO.
However if you close down some unused credit then the ratio increases which might make some lenders think you are over committed.

Thrugelmir

How many cards does your husband have?

[Deleted User]

Do the other credit commitments show on one of the other CRAs?

Check with Experian re the electoral roll. They are normally updated in Jan on credit reports, so it may be about to show imminently. If not, you need to chase this up.

Ignore Experian's view on the £500 credit limit.

JKSandy

MBNA will allow you more than one card but can be fussy with the amount of credit limit you can have, £4.8k unused maybe what got the Fluid rejected.


One credit search is not going to cause any harm either.