Old Store Cards

[corymcd88]

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@Anonymous wrote:

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@corymcd88 wrote:

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@Anonymous wrote:

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@corymcd88 wrote:

Why should I not lower the credit line?

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Utilization, Average CL. Higher limits beget higher limits..

If you're not going to use them, You are FAR better off closing them than lowering the limits.

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I'm at 2 to 3% Util.

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Overall perhaps.

Do what you feel like, but just know i'm not telling you this arbitrarily.

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I have some new card with high CL it will be about 85k overall CL.

[Anonymous]

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@corymcd88 wrote:

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@Anonymous wrote:

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@corymcd88 wrote:

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@Anonymous wrote:

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@corymcd88 wrote:

Why should I not lower the credit line?

---

Utilization, Average CL. Higher limits beget higher limits..

If you're not going to use them, You are FAR better off closing them than lowering the limits.

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I'm at 2 to 3% Util.

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Overall perhaps.

Do what you feel like, but just know i'm not telling you this arbitrarily.

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I have some new card with high CL it will be about 85k overall CL.

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So to that end.

Do you have any particular need for these cards? If not, Leave them be and let them auto-close. This is the least stressful way of dealing with this.

[Anonymous]

Don't close them . My dad has a 25 year AAoA from those type of cards . Their useless now but they they'll help you a lot in the future .

[Anonymous]

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@Anonymous wrote:
Don't close them . My dad has a 25 year AAoA from those type of cards . Their useless now but they they'll help you a lot in the future .

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Perhaps if this is a concern, but it also makes no sense to self decrease the limits if they aren't particularly pestering you.

[Anonymous]

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@Anonymous wrote:

Utilization, Average CL. Higher limits beget higher limits..

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Average CL? Is that a thing? They do consider this as a stats item?

If so I gotta close my old $500 student card.