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Reduced credit limit & applying for new card
mrsw
Posts: 1,425 Forumite
in Credit cards
My husband rang Alliance & Leicester yesterday to reduce his credit limit because he wants to apply for a new 0% card and BT from another card. How long does should he wait? Will a&L report the new limit back to the CRA straight away?
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Comments
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I'm also interested in this answer as I've just massively reduced my credit limits. All I know is it wont show up straight away. As an uninformed guess, I'd say it would appear by the next time your credit card bill is due
By the way, just in case it applies to you or you didnt know - the A&L card is an MBNA card so you cant transfer any balances from another MBNA card to that one at the 0% rate0 -
I'd allow 28 days or more just to be on the safe sideBen
"Thanks Martin for opening my eyes"
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From personal experience it may take upto 8 weeks for credit file to be updated by CRAs.Regards
Mark0
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