Hi
I'm in the process of applying for a mortgage and have a CC with a £18K limit (4K balance). I am playing this off 250 per month but wondered if it would help to reduce the limit to £10k so that I do not have lots of 'available credit' or would it make things worse as it would then look like I have 40% of the balance used as opposed to less than that if the limit stays on £18K
Just wondered what looks best from the lenders point of view? I have no missed/late payments, ccjs or defaults on any debt and have only another £10K car PCH agreement which ends in sept this year (4 years, no missed or late payments)
Any opinions appreciated!
I'm in the process of applying for a mortgage and have a CC with a £18K limit (4K balance). I am playing this off 250 per month but wondered if it would help to reduce the limit to £10k so that I do not have lots of 'available credit' or would it make things worse as it would then look like I have 40% of the balance used as opposed to less than that if the limit stays on £18K
Just wondered what looks best from the lenders point of view? I have no missed/late payments, ccjs or defaults on any debt and have only another £10K car PCH agreement which ends in sept this year (4 years, no missed or late payments)
Any opinions appreciated!