Amex credit limit

Glowhallow

I've just applied and been accepted for the everyday platinum credit card from Amex. However, I've been given a credit limit which seems astronomically high (for me!) of over £5k.



I only spend about £600 a month so I'm wondering if I should request a lowering of the limit as my credit utilisation is only going to be just over 10% a month.



Could requesting a decrease impact my credit file?



Would only utilising 10% of the credit impact me more negatively?


Thanks!

Ben8282

A £5k credit limit is not high.
Using only 10% will regarded positively not negatively.
Do not reduce the limit.

Glowhallow

Thanks Ben

[Deleted User]

Utilisation is a myth if paying the balance in full each month.

Don’t reduce the limit - it may show lenders that you cannot trust yourself with credit.

nickcc

On average I spend £900 per month on my Amex card which I pay off in full. My limit was raised last year from £6000 to £9500, not spending anywhere near my limit has obviously caused no problems.

IvanDP

Please don't worry about your credit utilisiation
Mine is less than 5%
I have sought advice myself from this forum and, from following the advice, I have had nothing but positive results.
If i were to take my credit score literally, I would be luck to get any sort of credit at all.
MSE credit club says I have little or no chance of obtaining decent credit cards, but had no problem in obtaining the last 2
(Tandem cashback, an Amex)