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Littlewoods account
wizzywig27
Posts: 1,536 Forumite
Hello, I am looking for a bit of advice really.
I am trying to clear up my credit file. I have an account wwith Littlewoods with a £1400 limit. At the moment the balance is £268 - £228 of which is for a bed I got four years interest free at (at £1.17 per week). Unfortunately I cannot pay the bed off just yet but after this months payment thats all that will be owed.
I really dont know if I should decrease my credit limit - to say £300/£500 or just leave it as is until I pay it off - could be a year or so.
The reason I am unsure what to do is because my credit file states I have a high income to credit ratio and I have high utilisation of credit. So if I am using 95% of credit for example, then reduce my limit it wont change that fact. But if I lower my limit it shows that I dont have that available credit - so whichever way I do it I feel like there is no right answer.
Anyone got any suggestions?
I am trying to clear up my credit file. I have an account wwith Littlewoods with a £1400 limit. At the moment the balance is £268 - £228 of which is for a bed I got four years interest free at (at £1.17 per week). Unfortunately I cannot pay the bed off just yet but after this months payment thats all that will be owed.
I really dont know if I should decrease my credit limit - to say £300/£500 or just leave it as is until I pay it off - could be a year or so.
The reason I am unsure what to do is because my credit file states I have a high income to credit ratio and I have high utilisation of credit. So if I am using 95% of credit for example, then reduce my limit it wont change that fact. But if I lower my limit it shows that I dont have that available credit - so whichever way I do it I feel like there is no right answer.
Anyone got any suggestions?
0
Comments
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Thought anything over 52 wks you paid interest?0
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carlislelass wrote: »Thought anything over 52 wks you paid interest?
Nope. I have four years interest free on this item0 -
It's not a high limit - I wouldn't go lowering it while you're carrying the balance.0
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