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Through much hard work and that 4 letter word "time&...

pr
New Member

Through much hard work and that 4 letter word "time&...

Through much hard work and that 4 letter word "time" I finally have good credit. I have a 2 old cc's that have high % rates. I don't want to close them because they are part of my history. So, I called these cc companies and asked them to lower my credit limits down to the bare minimum. In turn my other cc's increased my limits to fill the gap. Will it effect my FICO score in a negative way by having these low limits?
4 REPLIES
Moderator Emeritus

Re: Through much hard work and that 4 letter word "time&...

Are you still keeping util low on the ind cc as well as overall? If so it shouldn't matter you just moved your highest limit to another card. I believe if you kept util close to 0 you wouldn;t have suffered much anyway.
 
How old is the oldest accounts after those 2? At some point because they aren't the best cards for you, you may want to consider taking the temp drop in score to prevent your out of pocket costs with the older s/p cards. Their fees can be a killer!
Moderator Emeritus

Re: Through much hard work and that 4 letter word "time&...

Never lower your limits. You are just hurting yourself by shortening the util gap overall.
pr
New Member

Re: Through much hard work and that 4 letter word "time&...

I have 18 yrs of credit showing but yrs for my current active cc's are 5 5 4 1 1 in all there is nothing Derog showing
Moderator Emeritus

Re: Through much hard work and that 4 letter word "time&...

Leave them open unless they are costing you money.