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How is credit score effected when they lower limit

New Visitor

How is credit score effected when they lower limit

With the current climate of credit my credit cards for my store line has been lowered I owe more the 50% + with the limit. Some have been lowered to only around a few hundred dollars..For instance one had a limit $22,000 then went to a few hundred dollars over what I owe. I have written congress, my score in march was 766 but who knows now?
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Senior Contributor

Re: How is credit score effected when they lower limit

If you can pay everything under 9% of the current limits. Otherwise your scores will absolutely go down the chute. 
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