Credit limits

dimitarb23

Hi

I have one credit card with a credit limit which I have increased over the years to ~£15k. I only use upto £3k of this credit monthly and pay off in full every month. I increased my credit limit so much incase I were ever to make a large purchase(a car for example), as there were associated rewards with the credit card.
However I have recently got a new credit card with a credit limit of £3k, which has enhanced awards and I want to start using.

Basically I want to increase my new credit card limit to ~£15k and can then decrease my old credit card limit appropriately(I can't cancel the credit card as I am waiting on Covid-19 refunds etc)

Therefore how am I best doing this? I don't believe it is possible to transfer credit limit between different cards? So for credit rating purposes is it better to decrease the limit on card 1, and then increase the limit on card 2? OR request the increase on card 2, and then decrease the limit on card 1?

Just wondered what the best course of action is to minimise any impact to my credit rating

Thanks!

[Deleted User]

Leave the 15k limit as it is.  In a few months, ask for an increase on card 2.

For credit rating purposes, it makes no difference how the limits are split, although obviously any changes will drop the CRA scores, but that's ok.

Malkytheheed

More Limit - more better. 
Just leave both of them alone and live your life. 

PRAISETHESUN

Are they with the same provider? Some providers will allow you to transfer limits between cards. Otherwise it'll come down to time - you need to prove to your new provider that they can trust you with a higher limit, and you can only do that by showing you can pay your bills on time.