Hi,
I was wondering how this is going to effect my credit, I had a Walmart Discover card that I opened over a year ago with a 1500 dollar limit, I only used the card once or twice and PIF both times, and never really needed to use the card again, so Today I login to my account, and notice that they lowered my credit limit to $124 dollars, and they said its due to inactivity. I called and questioned it, and ask if they could re-instate my limit, because I had planned on using it, and she said at this time my account wasn't eligible to be re-instated, At first I was going to cancel the card, but I figured that would affect my credit more than them just lowering the limit so I left it open. I currently have a score of 709EQ, Not sure my other ones haven't check them lately.
My credit history is only about a year and half long (only 19yrs old lol). I have 6 open accounts, No inquiries in the past year, No baddies or late payments on any accounts. The only thing that is really impacting my credit is my Bofa card 6k limit (and of course short credit history), and I have charged about 5,600 on it, although within the next month or so I plan to pay it down a lot. (It's actually my mothers card, she put me on as a AU, so I could use it for a computer, and things for school).
Cards:
Cap One - 2k limit
Walmart Discover - $124 limit
Kohl's - $1000 limit
Target - $200 limit
Bofa - 6k limit (although Im a AU on the account it still shows on my credit report)
Sears - 500$
Starting Score: 720