cancel
Showing results for 
Search instead for 
Did you mean: 

Dept Store Card's available credit slashed from disuse

tag
Anonymous
Not applicable

Dept Store Card's available credit slashed from disuse

Hi all, first time poster.

 

I have a Gap/BananaRepublic store card that I haven't used in a couple years. When I was recently cleaning out my wallet, I decided to see what the limit was on the card. Turns out the limit has been cut by more than half in the 2 years since I last used the card. Their rep. said it was because I haven't used the card, but that I could ask for a limit increase. 

 

Any thoughts on what's worse for credit score- a CC with a very low limit or asking for an increase?

 

My particulars: 

Score is about 750, but the "room for improvement" section of my last report said I didn't have a long enough history (5 years since my first revolving) to move my score up.

Message 1 of 3
2 REPLIES 2
score_building
Senior Contributor

Re: Dept Store Card's available credit slashed from disuse

Welcome to the forums!

 

i'd suggest that you request the increase.  if your score is a real fico score you should be a v. good candidate for a restoral or even increase of your former limit.  so long as the increase doesn't require a hard inq. which it shouldn't, it can only help your score.  check with a csr to ensure that the increase will only be a soft inq. before allowing them to pull your credit.  sometimes the csr doesn't really know the difference, so don't let them brush off your question with a 'uh huh'.  the gain you receive from the cli can outweigh the point loss from a hard inq. anyway, but if it is avoidable no need to accept a hard inq. for a cli.

 

it is essential that you use your card at least for a small purchase every 3-6 months (perhaps every 3 months to be on the safe side, but it can vary by issuer and card type) and (ideally) pif.  in general issuers seem to be clipping wings on unused cards wherever they can these days to get funds back on their balance sheets.  it is a good thing you caught it while the account is still open because the next step is typically a full closure of the acct.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 2 of 3
oracles
Valued Contributor

Re: Dept Store Card's available credit slashed from disuse

Hi Gulmar and welcome to the forums

 

I agree 100% with Score building

 

Definitely try to get an increase but only if it is a soft pull.

 

I am assuming you have other cards with higher limits therefore I don't believe it will affect future credit lines.

 

Since you do have short history, it is now more than ever for you to use these store cards once every 3-6 months so it will not go inactive. You need to keep these tradelines open

 

Hope this helps 

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.