Credit card limit

I have a credit card with the Halifax with a limit of £3800 
I switched bank accounts to HSBC and applied for a credit card and was accepted but only £1500 limit.
My question is I only want 1 card and would prefer the HSBC with cash back. 
But if I cancel my Halifax card would that increase my chance of a better credit on my HSBC card. Thank you


  • No. It would be more likely to lower it as your perceived risk increases.
  • gordon189
    gordon189 Forumite Posts: 2
    First Post
    So I should keep both and just use the one card. To be honest I could live with 1500 
    but it’s nice to have a cushion. 
  • wiseonesomeofthetime
    wiseonesomeofthetime Forumite Posts: 1,984
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I would keep both.

    Your credit utilisation figure is then £5,300.

    If you spend just £500 per month on the HSBC (as a sole card), that would mean that you are using 33% of your available credit.

    However, with both cards open (but just using the one), £500 per month would be just 9.4% of your available credit.

    Should you then wish to go for an increase in your credit limit with HSBC, in say six months time, your credit history may look a tadge healthier.

    Footnote: Bear in mind that the above examples are not entirely accurate throughout the month as I am sure you will still be spending on your HSBC card while waiting for the direct debit to clear the previous one in full. But I think you get where I'm going.
  • Anna265
    Anna265 Forumite Posts: 4
    Photogenic First Post
    Found so many interesting information. Thanks for sharing <3
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