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Credit Limit...Credit Score
webbo1981
Posts: 305 Forumite
in Credit cards
I have an RBS Credit Card with a £450 limit, my outstanding balance is £389 and am just wondering whether to ring up and lower my limit to £400, will this improve my credit score? Or is it not worth doing?
Regards
Regards
Work hard play hard......
0
Comments
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I guess it is not worth doing... in fact it might worsen your credit score. I understand that banks like to see a used credit limit of less than 70%, so decreasing your Credit Card limit from 450 to 400 may show up on your credit file as you are using your card to the max.0
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