Help! Preparing for the 1st mortgage

ashleytroy73

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 agencies. My question being this, should I reduce the credit limits to something more sensible or leave them as they are?

Thank you!

[Deleted User]

Leave them - don’t reduce the limits as it may look like you cannot manage that amount of money sensibly.

Also ignore the scores and ratings - they’re not seen or used by lenders when they make lending decisions when you apply for their products

Also duplicate thread: https://forums.moneysavingexpert.com/discussion/comment/75235355#Comment_75235355