Have You Ever Closed a High-Limit Card?

changingmantra2 · ‎04-23-2014

Hello All -

What was the highest limit of a card you closed? Why did you choose to close a card with a hight CL?

“We delight in the beauty of the butterfly, but rarely admit the changes it has gone through to achieve that beauty.”
― Maya Angelou

eagle2013 · ‎04-23-2014

@changingmantra2 wrote:
Hello All -

What was the highest limit of a card you closed? Why did you choose to close a card with a hight CL?

Not me personally, but I have thought quite frequently about axing my useless Wells Fargo limit down.

longtimelurker · ‎04-23-2014

I closed a $30K Citi AA MC. The AF was quite high for then, around $80, they wouldn't reduce the APR and I kept my AA Visa, so didn't need both. I have closed several in the 15-20K range, always because to me the AF wasn't worth it.

SunriseEarth · ‎04-23-2014

@changingmantra2 wrote:
Hello All -

What was the highest limit of a card you closed? Why did you choose to close a card with a hight CL?

The only CC I've closed of my own volition since BK was my CreditOne, with a $950 CL. I'm debating closing my Merrick some time in the few months (current CL is $1200). So yeah, I haven't had that issue just yet.

Pat94108 · ‎04-23-2014

Yes, I closed a Amex Blue Sky a few years ago with a CL of 15k. I was unemployed so wanted to make sure I wasn't going to use it.

DigitalArk · ‎04-23-2014

I am about to close my 18.5K NFCU cashRewards...still thinking about it...

eddie84 · ‎04-23-2014

@changingmantra2 wrote:
What was the highest limit of a card you closed?

Well, it was the Beaver card ($12k) and they closed it for me.

acb5456 · ‎04-24-2014

I closed my $10k Merrill+ card a short while back. The rewards structure wasn't anything special and I don't like having too many credit card accounts!

Chase Sapphire: $10,000 | Amex BCE: $15,000 | BofA Cash Rewards WMC: $15,000 | Discover IT: $15,000

FICO: TU-793 (Discover), EX-805 (Amex), EQ-790

Jlu · ‎04-24-2014

I'm considering closing my CSP for AF-reduction purposes, but of course I'd be transferring the entire limit over to my no-AF Freedom card since Chase is cool like that.

Thus far I've closed a $300 First Premier Card.. didn't hurt too much to see that one go

youngandcreditwrthy · ‎04-24-2014

The highest I've closed are:

$15k Lowe's card (due to no use! replaced it with a higher limit card down the road)

$6.5k JCP Card ( I never shop there!)

$5k C1 Venture Visa Siggy( Crapital one sucks and they wouldn't lower my apr or increase my cl)

I more than opened enough accounts to replace the credit lines on those though. I've opened prob $50-60k in new credit lines since I closed those ones. GECRB cards are really good to build high lines.