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Credit cards: what's better?
ThePants999
Posts: 1,748 Forumite
Hi folks,
Appreciate this is a bit of a "how long is a piece of string" question, but do you think the majority of lenders (mortgage lenders in particular) would prefer to see a low amount of available credit, or a low utilisation of available credit? I ask because I've been given a much higher credit limit on a credit card than I actually need and won't be using it, and I'm trying to decide whether to get it reduced - I'm not sure whether having a large amount of credit available to me would look troubling to lenders when I remortgage, or whether it'll just make the fact I don't use much of it look better
TIA!
Appreciate this is a bit of a "how long is a piece of string" question, but do you think the majority of lenders (mortgage lenders in particular) would prefer to see a low amount of available credit, or a low utilisation of available credit? I ask because I've been given a much higher credit limit on a credit card than I actually need and won't be using it, and I'm trying to decide whether to get it reduced - I'm not sure whether having a large amount of credit available to me would look troubling to lenders when I remortgage, or whether it'll just make the fact I don't use much of it look better
TIA!
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