Credit Limits

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LawAbiding
LawAbiding Posts: 295 Forumite
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in Credit file & ratings
Hi,

Just been alerted by Marbles Credit Card and they would like to offer a credit increase from £2400 to £4000.

The balance is zero and my credit utilisation is 0% across all my credit cards.

I have cleaned up my act in time for a mortgage application in January.

Should I let them go ahead with the limit increase or keep it at £2400?

I do not need the credit but would the increase help my report and potential mortgage application?

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    It would show that you are a little more trusted by lenders. The new limit is still low, but it's a step in the right direction.
  • LawAbiding
    LawAbiding Posts: 295 Forumite
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    Cheers, it tops it to 10k available on credit cards, with all 10k available.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Just pay the bill off each month or pay the minimum.
  • LawAbiding
    LawAbiding Posts: 295 Forumite
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    Confused, now that relates?
  • kwame41
    kwame41 Posts: 168 Forumite
    edited 17 October 2018 at 8:24AM
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    The increase wont hurt your profile.


    I was under the impression that lenders like to see some responsible use of credit on your file. Would using a little and paying in full each month not be seen more favourably than having available credit just sitting there not being used?
  • LawAbiding
    LawAbiding Posts: 295 Forumite
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    Yep agreed, I have two other credits cards, which I use during the month (prob upto £500), then pay off in full when I get paid.

    Do you think it's wise to do this with all my credit cards as it keeps a positive history with that specific company?
  • kwame41
    kwame41 Posts: 168 Forumite
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    Spreading across all cards wont hurt but from a credit history / worthiness point of view I dont think it matters.


    Your demonstrating responsible use of credit to a potential lender.
  • LawAbiding
    LawAbiding Posts: 295 Forumite
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    Cheers for the advice, I'll go ahead with the credit limit increase and carry on what I am doing.
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