2 credit cards - split the limit?

Marvel1

I have 2 credit cards with Halifax:
A normal one and a clairty one.

Normal has a limit of £7500
Clairty has a limit of £3000

I kno on the site you can request to increase/decrease your limit.

What I would like to do is decrease the normal one and increase the clairty one - so have them more 50/50.  

Would this affect my credit status if I request the above together?

Ebe_Scrooge

Reducing your credit limit may have a slight negative impact on how other lenders view you.  They won't know whether you requested the reduction, or whether Halifax forced the reduction on you (due to account mismanagement or whatever).  All other things being equal, and assuming your credit history is pretty healthy, you're probably better off just to request an increase on the Clarity card.  They can only say no

Marchitiello

I have never done it with Lloyds/BoS/Halifax but I have done it with MBNA before it was bought by Lloyds.  I have also done it with Barclaycard and Santander over the years. 

You need to call Customer service and ask for a Credit Limit to be moved from a card to the other, pretty straight forward if they allow it.

My only recommendation is however that rather than having the limits the same for the sake of it, I would look at what you are likely to do with those limits in real life. For instance, I am guessing the Clarity card is mostly use for trips abroad and forex spend. If you are never likely to actually spend over £1000 on any single holiday (just as an example) on things like hotels, car rental, dining etc, then £3k limit is more than enough. However if you are likely to book expensive resorts for £3k all inclusive week, then you may want to have at least £6k limit on the clarity card.

I have very high limits on cards where I am likely to spend the highest sums on a regular basis, often for some business expenses that I can later get reimbursed.

vestrit

Why do you want to decrease the normal one?

I work on the basis that the higher the limits you have, the higher the total available credit you have, which can only help with things like credit utilisation ratios for your credit rating.

But I may be being simplistic and naive there, not sure.

Marvel1

Yes going away to USA in a few weeks and for some reason it's pay the hotel when you check in - so may, then again should be ok as $ amount is more than £ in numbers, keep thinking $800 is £800.  I can pay it off next day, not that I'm expecting to go nuts.

Decreasing the other one I was thinking more chance for increase of other one.  Over the years they just give it to me.

[Deleted User]

Is the 'normal' one a cashback one? 

adindas

Marvel1 said:

I have 2 credit cards with Halifax:
A normal one and a clairty one.

Normal has a limit of £7500
Clairty has a limit of £3000

I kno on the site you can request to increase/decrease your limit.

What I would like to do is decrease the normal one and increase the clairty one - so have them more 50/50.  

Would this affect my credit status if I request the above together?

It will not affect your credit worthiness with Halifax, as there will be no credit check if what you want to do is just to reshuffle the credit limit, not a limit increase. They could even do that immediately when you call them.
The only problem here is that if you applied in two separate occasions, you might have created a different login detail for that two cards (even both are now already shown on your profile) they might not be able to do that immediately, they will need to combine that into one login first before they could reshuffle it.

Marvel1

Deleted_User said:

Is the 'normal' one a cashback one? 

I think so, I rarely use it.

Dobbibill

As you need to ring them to redistribute your limits it may be worth asking about a limit increase if that would suit your situation better. 

born_again

vestrit said:

Why do you want to decrease the normal one?

I work on the basis that the higher the limits you have, the higher the total available credit you have, which can only help with things like credit utilisation ratios for your credit rating.

But I may be being simplistic and naive there, not sure.

Sadly Yes.
As is mentioned far too often. Your credit rating means nothing to lenders (never seen). It is your credit history & debt to income ratio.