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Decreasing credit limit impact on credit score
Rosylee
Posts: 201 Forumite
I have a very large credit limit around £10000 on a catalogue account but really want to decrease this to about £500. Will this affect my credit rating which isn't great at the moment. I don't really want to close the account
0
Comments
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Credit limits are visible to lenders as part of the CAIS (Credit Account Information Sharing).
The catch 22 situation reducing credit limits are the lender will not know if it has been done at request of the customer or whether the lender has actually done it.
http://www.experian.co.uk/consumer-information/what-is-cais.htmlIm an ex employee RBS GroupHowever Any Opinion Given On MSE Is Strictly My Own0
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