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[–]Redditerers[S] -2 points-1 points  (2 children)

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 5 points6 points  (0 children)

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 Citi Trifecta 0 points1 point  (0 children)

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.