Too Many Low-limit Cards ....How low is too low? How many is too many?

[jaysdad2k]

I was surprised to see this thread that was originated by me almost two years ago. I don't even remember why I wondered if too many low limit cards would cause a denial.

A lot has changed since then.

I have since gotten the Capital One up to $800 and the Orchard to $1,200. I did close the Credit One and didn't look back.

I did a mini-app spree in May of 2009 when my very last baddie came off EQ, and it jumped to 744 My lowest now is the Cap One and an Amazon Chase at $900 (started at $400.)

I now have two accounts at $10k, one at $7500, three at $5k, including a Nordstrom Visa Signature. Apparently, the low limit cards didn't create any problems for approvals.

Many thanks to everyone on the board for the awesome information and thanks for the memory, too!

[payingoffdebt001]

Thanks for coming back and reporting!  I just came across this post due to me browsing and appreciated seeing the before & after.  Thanks!

[TangMeister]

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@jaysdad2k wrote:

I was surprised to see this thread that was originated by me almost two years ago. I don't even remember why I wondered if too many low limit cards would cause a denial.

A lot has changed since then.

I have since gotten the Capital One up to $800 and the Orchard to $1,200. I did close the Credit One and didn't look back.

I did a mini-app spree in May of 2009 when my very last baddie came off EQ, and it jumped to 744 My lowest now is the Cap One and an Amazon Chase at $900 (started at $400.)

I now have two accounts at $10k, one at $7500, three at $5k, including a Nordstrom Visa Signature. Apparently, the low limit cards didn't create any problems for approvals.

Many thanks to everyone on the board for the awesome information and thanks for the memory, too!

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Congrats and always nice to see someone revisit a thread, and update with a success story! 

[smc733]

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@jmbfl wrote:
A low limit card is less that $5K. $5K is some kind of magic dividing line. I would not close and dump any CC's based solely on the basis of CL alone until you have been able to get one pushed to $5K+. The only other reason to consider closing cards before that would be fees - which are a good reason to dump a lower limit card. When you have a bunch of low limit cards there are just too many benefits related to UTIL to arbitrarily close 'em. Make sure you understand the consequences before closing any account. Closing accounts is not a FICO-wise activity.

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Depends, I think a low limit is less than $1,500, depending on how you look at it.  Between $1,500 and $5,000 could be seen as moderate, where $5,000+ are "high".  (Above $25k may be considered "very high", if you will).

[JonStur]

A blast from the past with a happy ending...