reduced available spend

It's approximately 8 weeks since I applied for a number of cards on the same weekend (all accepted) and it seems that the card providers are now getting a bit twitchy with my sudden change in spending / card habits.

Soon after I got the cards I balance transferred at 0% to almost the maximum I could in order to pay for some building works and leave my money earning interest. Last week I received two letters from two of the card providers stating that they were reducing the available spend and reducing my limit under section B8........... and if I don't want them to do that I can end my agreement before it happens (section B9......).

The tone of the letter seems to indicate that it would be better for me to end the agreement, i.e. pay of the card than have them formally reduce my credit limit. Or I could just be reading more into it than is actually there. Any thoughts - will having an imposed limit reduction further hammer my credit score ?? I'm not overly bothered as I have no need to change mortgage / get new cards etc any time soon as far as I know but I don't really want something hanging around on my files forever. many thanks


  • You're reading too much into it.

    Just be aware of your balance/limits ratios. Too little headroom could put some lenders off if you needed further credit.

    Ignore your credit score.
  • Thanks - thought as much but a bit new to this.

    I better get the calculator out and check but I had assumed they would still keep the ratios so that I won't loose the 0%.

    I still have a number of daily use cards for my air miles etc that get paid off in full still each month so shouldn't need further credit and will help my overall ratio. Don't think I can handle any more stoozing just yet, it seems to stressful !
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