@Anonymous wrote:
@coldfusion wrote:
Most of the things that trigger a credit limit decrease are within your control.
Every once in a while AMEX will review accounts and if someone has a big credit limit with hardly any spend they will sometimes decrease the credit limit. However, that usually involves cards with credit limits way higher than yours even after combining your limits, and in a significant percentage of cases a simple phone call to AMEX is enough to get the limit restored.
Don't run up a balance and just make mininum payments for several months.
Don't cycle your credit limit multiple times per month i.e. don't run up balances close to your credit limit and then pay them off immediately multiple times a month. That attracts eyes to your account.
If you have something serious going on with your general financial situation your limit may get cut but if that's the case a credit limit decrease is probably not going to be your biggest worry.
Makes sense. Thanks for providing context! MUCH APPRECIATED!
I like the combining limits strategy when banks allow it. IMO, it may actually make a CLD *LESS* likely than if you kept two separate lower balances. That's assuming you are combining the limits onto the more useful card where you can concentrate more of your spending, and consequently the single account may show a higher level of activity than the two separate accounts.
Also, as pointed out, your limits are not high enough to be targeted by most lenders for a CLD. They tend to leave more credit lines under $5K to $10K alone unless there is a reason they believe risk is increasing.
Certainly, as long as you're not engaging in the riskier practices as pointed out by @coldfusion, you probably don't need to worry.
