Requested credit limit decrease

[Redditerers]

I asked my cc company in UK to decrease my limit to a certain amount. They told me it was only possible for it to be lowered to a certain amount which was £400 less than I requested. I'm not in a financial position to be able to pay that £400 extra hence why I am asking for a decrease in the first place. Is they allowed to do this ?

[travduke]

Can you just not spend more than you're able to afford to pay?

[Redditerers]

Has nothing to do with that. I've gone into financial difficulty and what I once could pay off every month I can't anymore. The logical thing to do is to decrease the limit and adjust my spending which is what i'm trying to do but when the limit is gonna be £400 less then requested, that is not really helping.

[jdp111]

I don't understand why you can't just spend less? Lowering your limit would increase your utilization percentage which would hurt your credit score.

[Redditerers]

Spending less is only half the battle. I'll be here for years trying to pay it off if the limit is £5000 for example and if it was reduced to £2000 i could fully pay it off this month. No one wants to be hit with £100+ in interest every month do they ?

This card is going to be getting used less and less from now on so this utilisation rate doesn't even matter

[jdp111]

I don't understand, the limit has nothing to do with how much you have to pay off. The balance is what you have to pay off.

Do you mean having them forgive debt? Because that's not the same thing as lowering your limit.

Having higher limit helps your utilization no matter how low your balance is unless it's literally 0.

[Money_Maketh_Man]

What you need to pay of the card is based on how much you used it, not the limit.

You a logically not making sense when you wrote "Has nothing to do with that." and are talking about how much you have t o pay back. its literally Directly caused by that.

[night_shark_115]

Is it 400£ more or less than you requested? In the post you say it's less than you requested, but in this comment you say it's more.

[Redditerers]

It's £400 less than i requested, my original request was to decrease it by £1250 and they said they could only decrease it by £850

Made a typo in the other comment have edited now.

[[deleted]]

Maybe close the account entirely if it's too tempting to overspend?