Credit Limits

LawAbiding

Hi,

Just been alerted by Marbles Credit Card and they would like to offer a credit increase from £2400 to £4000.

The balance is zero and my credit utilisation is 0% across all my credit cards.

I have cleaned up my act in time for a mortgage application in January.

Should I let them go ahead with the limit increase or keep it at £2400?

I do not need the credit but would the increase help my report and potential mortgage application?

[Deleted User]

It would show that you are a little more trusted by lenders. The new limit is still low, but it's a step in the right direction.

LawAbiding

Cheers, it tops it to 10k available on credit cards, with all 10k available.

DCFC79

Just pay the bill off each month or pay the minimum.

LawAbiding

Confused, now that relates?

kwame41

The increase wont hurt your profile.


I was under the impression that lenders like to see some responsible use of credit on your file. Would using a little and paying in full each month not be seen more favourably than having available credit just sitting there not being used?

LawAbiding

Yep agreed, I have two other credits cards, which I use during the month (prob upto £500), then pay off in full when I get paid.

Do you think it's wise to do this with all my credit cards as it keeps a positive history with that specific company?

kwame41

Spreading across all cards wont hurt but from a credit history / worthiness point of view I dont think it matters.


Your demonstrating responsible use of credit to a potential lender.

LawAbiding

Cheers for the advice, I'll go ahead with the credit limit increase and carry on what I am doing.