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£47,500 available credit

ashleytroy73 · 2018-12-27 20:34:04

Hello all, I have £47,500 available as credit on 5 credit cards. I’ve had all 5 between 4-5 years. They all have £0 balance, I applied and used them all one way or another along the way to build my credit, get the initial bonus or use them abroad with no fee. I’m now in the excellent category with all three reference…

Comments

MobileSaver Posts: 4,377 Forumite

29 December 2018 at 1:24PM

SG27 wrote: »

Close all but 1. Some lenders may look on large amounts of available credit as a potential risk.

Before I retired I had several personal credit cards with £25k limits and another one with either £40k or £50k (cannot for the life of me remember the exact limit) so a total credit availability of well over £100k and never once had a problem with any lenders.

I can vaguely remember one agent commenting on my existing high limit when I applied for a new 0% card but it was just a comment and they approved it no problem. I'm sure existing limits are part of the algorithm but your income, actual debt and payment record must be the most significant factors.

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