Valued Contributor
Posts: 2,039
Registered: ‎01-24-2012
Re: What to do....what to do???

shorrttyycm1 wrote:
Wow, that's a huge difference. I always thought the rule of thumb was smaller limits gets smaller limits? i guess its one of those ymmv things?

Well, like you, I have multiple other cards with higher limits. No one, but the lenders, really know what they do to determine a credit limit. If you have a nice long history, with perfect payment history, and no inquiries, you are more likely to get a higher limit. Do not forget that income is also a facotr they take into consideration. I would close them only because of the annual fee. Maybe you can ring and try to get the annual fee waived? I believe someone said they were able to do that with Orchard Bank.