Should I reduce credit limit on cards

pmc82

I have a Visa credit card and American Express Card, both with credit limits I never get near.


I want to take out a Halifax Clarity MasterCard credit card to avail of the better euro exchange rates but don't know if another card will have an adverse affect on my credit rating.


I will probably be applying for a new mortgage to move house later in the year don't want to do anything that might limit the amount available to borrow or affect the rates.


I had thought of reducing the credit limits on the cards I already have and going so my available credit wouldn't increase but don't know If this is would be worthwhile


Any advice?

YorkshireBoy

Lenders use 3 key ratios:


Debt/income
Available credit/income
Debt/available credit


Since you haven't divulged any of the figures no-one will be able to offer any worthwhile advice/opinion/suggestions.