From: Peter Martin
Hi,
I've just received the annual "we'd like to increase the limit on your credit card" note from the bank. In the past I've always accepted the increase - I never carry a balance forward on the card and I thought it might somehow improve my standing when applying for loans to show that the bank is prepared to give me a big limit on the card.
Only trouble is, I'm now starting to wonder whether the large limit actually works against me when applying for finance. Even though I have a zero balance, would the bank treat the card as fully drawn when it calculates loan amounts and repayment capacity?
Should I chuck the notice in the bin or take them up on it, from an IP perspective?
Thanks,
Pete
Hi,
I've just received the annual "we'd like to increase the limit on your credit card" note from the bank. In the past I've always accepted the increase - I never carry a balance forward on the card and I thought it might somehow improve my standing when applying for loans to show that the bank is prepared to give me a big limit on the card.
Only trouble is, I'm now starting to wonder whether the large limit actually works against me when applying for finance. Even though I have a zero balance, would the bank treat the card as fully drawn when it calculates loan amounts and repayment capacity?
Should I chuck the notice in the bin or take them up on it, from an IP perspective?
Thanks,
Pete
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