Decreased credit card limit
Discussion
Hopefully the financial boffins can help and advise.
I got a credit card to build up my credit limit a year or so ago because I didn’t have any credit cards for years my credit score needed to improve.
I got a credit card with aqua for which I only use to travel to work via train/ tube roughy £200 a month which is paid off in full each month.
The limit started at £700 the they increased to £2200 then increased again to £4400.
I’ve only ever spent no more than £200 a month and always paid off in full each month and now they have decreased the limit to £1500.
“We have decreased the limit on your aqua card to £1500.00 as we feel it is more suitable for your level of use. A letter will follow shortly.”
That part doesn’t bother me but I had a quick google and some articles mention that this can affect your credit rating.
If anyone can help / advise it would be appreciated.
Cheers
Sunnygym
I got a credit card to build up my credit limit a year or so ago because I didn’t have any credit cards for years my credit score needed to improve.
I got a credit card with aqua for which I only use to travel to work via train/ tube roughy £200 a month which is paid off in full each month.
The limit started at £700 the they increased to £2200 then increased again to £4400.
I’ve only ever spent no more than £200 a month and always paid off in full each month and now they have decreased the limit to £1500.
“We have decreased the limit on your aqua card to £1500.00 as we feel it is more suitable for your level of use. A letter will follow shortly.”
That part doesn’t bother me but I had a quick google and some articles mention that this can affect your credit rating.
If anyone can help / advise it would be appreciated.
Cheers
Sunnygym
Gassing Station | Finance | Top of Page | What's New | My Stuff