- Credit Card
- Real Estate
I have a credit card upon which I buy my day-to-day purchases, and pay off in full every month, in order to build a credit history.
I have a credit limit of £4050.
My bank (the issuer) emailed me today, saying that because the most I’d ever managed to use on it is £687.31, and as such they’re gonna drop the limit to £3100, unless I get in contact.
To me, the human, I honestly don’t care. If I ever manage to put over £1000 on it in one month, I’m an abject failure on the way to debt which I will have to pay interest on like a fool.
To me, the member of an economy, I have no idea if this is bad for me or not. Because the only reason I have a credit card is to build up a credit history to eventually leverage to get a mortgage, all I really need to know is: Will having a lower credit limit, which I will still never reach, negatively impact my ability to get a mortgage in future?