credit limit decreased

[SeanAndrews]

I recently paid a nice chunk off on my Discover card (2000 from 5k balance), but was addming more to it with a recent business trip (maybe 1k more).  I see today that my I am $501 over the limit! They decreased my credit line. I assume it's perfectly fine for them to do this, but is it really when it can cause damage to one's credit score? I have never been over the limit with them and always paid on time, although my balance was always at the limit. NOw with me being $500 over the limit, I assume this will have a more negative effect on my score. True? If so, isnt there any recourse? I know, call them up, bla bla then hear their excuses and reasons and get nowhere.

[llecs]

There is a ding to your credit, but it is temporary. If you paid off the card now and when it reports next, your FICO score would bounce back or even improve over what it was before this mess. After bringing the balance down, I still would call them and ask for the CL to be restored. I had a store card that dropped my CL by nearly $3000 to nothing and I didn't have a balance. I called them and after talking to the supervisor's supervisor's supervisor, they relented and restored about 75% of the cL. Always worth a shot.

[SeanAndrews]

I dont really have the funds onhand to make a large $500 payment to get it back to the high end of the limit, I only paid 2500 on it because I had the additional funds at the time due to a bonus, thinking I would have a nice buffer room left on the card. Now I am back to square one, i guess thats my thanks for giving them 2500,

[llecs]

Worth a call. Last thing you want is over-the-limit fees, etc. I'd talk to them and at least get them to entertain a small CLI to get the util below 100% and make a good-faith promise to pay $x over the next month or two. I have a Discover More and I fear that scenario. Now I keep savings on the side but I really hate to tap into that. I confess that my Discover util is at 90%. Maybe I should pay it off and chill it for a while.