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Reducing credit limit
Kerryday
Posts: 1 Newbie
in Credit cards
I have a Barclaycard that I don't use with a £9k credit limit. Barclays have written to me to say to reduce fraud risk they are lowering my limit to £1k unless I spend on the card. My question is is this good or bad for your credit record ? Should I use the card so the limit stays the same or does it reflect better to have less credit available? Many thanks
0
Comments
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Try to avoid having your limits lowered, either by yourself or others.1
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On the whole, it's better to have more credit avalible. But it's not nearly as important as making your paymetns on time and not having defaults etc.1
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I think Barclaycard are doing this to a lot of people, I have two cards both of which are being reduced from 15k to 1k and then being closed in September unless I use it or text them.1
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