O/D limit

armyoftwo

Evening All,

I was wondering whether it would be a good idea to decrease my o/d limit as it's rather high and I don't use it. It's 6k was thinking of halving it. Also, I have three credit cards with a total limit of 5k. I have no debt thankfully.

Does having a large unused o/d actually do good for your credit history?

Thanks xxc

colsten

It only matters when you apply for credit - mortgage, loan, CC etc.

Your "available credit" will be taken into consideration by the lender, and be subtracted from the max credit the lender would give you.

If you have no plans to apply for any credit, you may as well leave it as is.

armyoftwo

Thanks for the reply. As i don't intend to apply for any credit, I'll keep it then.

jonesMUFCforever

In an emergency it could be a godsend should you need emergency funds.As long as there is no charge for having the facility; keep it.