Credit limit

Billy_mufc

Hi guys, i was looking for some advice as i applied for a amex platinum cashback card and was accepted immediately they gave me a credit limit of £8,000(more than my other 2 cards which are around £500). Will this negatively impact my score if i only spend like 5-10% on the amex each month and pay of in full?

Thanks in advance!

JP2019

Forget the score, it means nothing.

Worry about your credit HISTORY and that you are paying on time every month

cymruchris

If you do what you say you'll do it will have a positive impact on your history.

Vortigern

This will not negatively impact your credit score, credit record, credit history/file - or whatever you want to call it.

Ben8282

There was another thread not long ago asking exactly the same question so I will give you the same answer which is no your credit files will not be negatively impacted. The opposite in fact.

Billy_mufc

Thanks guys, is there a certain % of my card i should not go over as on youtube they advise dont use more than 20-30% of your limits unless you need to.

Willing2Learn

Billy_mufc wrote: »

...is there a certain % of my card i should not go over as on youtube they advise dont use more than 20-30% of your limits unless you need to.

Billy_mufc wrote: »

... i only spend like 5-10% on the amex each month and pay of in full?

If you are paying your statemented balance in full each month, then your utilisation has become irrelevant.

born_again

Billy_mufc wrote: »

Thanks guys, is there a certain % of my card i should not go over as on youtube they advise dont use more than 20-30% of your limits unless you need to.

So long as you pay it back each month.
The above is a load of (insert own word):eek: