jmaccustom wrote:
Hello, I have a credit card with a limit of 16600 the balance is only 249 should i lower the credit limit on this card, and will it help my credit score. Thanks, J
Hi, welcome to the forums!
As score_building said, there is absolutely no benefit in lowering credit limits. This is one of those myths floating around out there that never seem to die.
If you haven't already, please read
Understanding Your FICO ® Score and
Credit Scoring 101 (at least the first post.)
These will give you the background knowledge you need to understand what you read here on the forums.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
