Credit limit

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Billy_mufc
Billy_mufc Posts: 3 Newbie
in Credit cards
Hi guys, i was looking for some advice as i applied for a amex platinum cashback card and was accepted immediately they gave me a credit limit of £8,000(more than my other 2 cards which are around £500). Will this negatively impact my score if i only spend like 5-10% on the amex each month and pay of in full?

Thanks in advance!

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  • JP2019
    JP2019 Posts: 79 Forumite
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    Forget the score, it means nothing.

    Worry about your credit HISTORY and that you are paying on time every month
  • cymruchris
    cymruchris Posts: 5,227 Forumite
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    If you do what you say you'll do it will have a positive impact on your history.
    An ex-bankrupt on a journey of recovery. Feel free to send me a DM reference credit building credit cards from the usual suspects :) Happy to help others going through what I've been through!
  • Vortigern
    Vortigern Posts: 3,243 Forumite
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    This will not negatively impact your credit score, credit record, credit history/file - or whatever you want to call it.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
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    There was another thread not long ago asking exactly the same question so I will give you the same answer which is no your credit files will not be negatively impacted. The opposite in fact.
  • Billy_mufc
    Billy_mufc Posts: 3 Newbie
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    Thanks guys, is there a certain % of my card i should not go over as on youtube they advise dont use more than 20-30% of your limits unless you need to.
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    Billy_mufc wrote: »
    ...is there a certain % of my card i should not go over as on youtube they advise dont use more than 20-30% of your limits unless you need to.
    Billy_mufc wrote: »
    ... i only spend like 5-10% on the amex each month and pay of in full?
    If you are paying your statemented balance in full each month, then your utilisation has become irrelevant.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • born_again
    born_again Posts: 14,455 Forumite
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    Billy_mufc wrote: »
    Thanks guys, is there a certain % of my card i should not go over as on youtube they advise dont use more than 20-30% of your limits unless you need to.

    So long as you pay it back each month.
    The above is a load of (insert own word):eek:
    Life in the slow lane
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