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Cancel or lower limit?

Super Contributor

Re: Cancel or lower limit?

Some times keeping too many cards can lead to confusion and mistakes. I have close 7 accounts and it did not hurt my scores even a bit. It is all personal preference and spending/payment habits.
Message 11 of 13
Established Contributor

Re: Cancel or lower limit?

Would depend on overall utilization IMO. If zero change, close. Otherwise, keep open.
Message 12 of 13
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Valued Member

Re: Cancel or lower limit?

Much appreciation to all... This site has helped me a lot in the short time I've been on here!
I cancelled my card but after reading these posts and some tips from this site, I re-opened within 24hrs so no problem, not credit hit, etc.
I also looked at my old accounts, closing only a store account but re-ordering cards that I have previously cut up so I can use them every couple months. Average account is 4yrs old!
 
Thanks!  Smiley Happy
 
 
Message 13 of 13