Experian Q&A

Miscellaneous Questions

What is the best way of requesting a credit limit increase from a lender?
| Clariman |

By phone?

I have a 'perfect' payment history. In addition to my stoozing cards, the only other 'active' debt on my report is my mortgage and car loan (which ends in September). I've been considering paying off the car loan early to improve my 'score'. My file shows £200 x 36 months, although the current balance is only £1.4K. My mortgage shows £200 x 200 months with a current balance of £38K (these figures don't compute because I've been overpaying it). I'm considering converting to an offset mortgage which I can 100% offset - the theory being that the resultant balance will show as zero. So, the only 'debt' my report would show would be credit card debt - (150 - 200% of salary used, out of 210% available). How is carrying out the above likely to impact on my credit score as far as credit card providers are concerned?
| YorkshireBoy |

You'd have to ask a credit card provider - we can't comment on their policies because we don't know them. All we can tell you is that if you have paid your credit accounts on time then your credit report will be useful to you and if you can show that you are not overcommitted, then you're likely to be deemed creditworthy.

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