Small Limit Reporting Question

[Anonymous]

Some say that once you get a high limit on a card your future approvals and CLIs will go up-lenders trying to "match" your highest limit card.

My question is about leaving a small limit card on your report. Does anyone know if that hurts you the same way a high limit helps?

Trying to decide between combining and closing a card or leaning $500 or $1000 on the second card in case I ever want it back.

Thx

[elim]

I think the sooner the better as other lenders tend to want to see how we handle large limits over 6 months to a year before they might match. As far as keeping the small limit... Sometimes I wish I had a low limit card for ordering specialty items only found at small sites online, ordering pizza, using shifty gas pumps while traveling, etc, but I can't ever bring myself to leave the limit alone, and soon it grows or I close it.  I figure I can always open the same card at a later time if needed (probably at a higher limit).

I have closed 5 accounts in 12 months without a problem, if that helps.

[Anonymous]

@elim what would be the benefit to having a small limit card in those situations? If they were shady they could only mess with a limited amount?

[Anonymous]

Yes, I think that's what elim is getting at.

I this this a great topic by the OP and one I hadn't really considered.

I have 3+ cards with $24k-$35k limits and my lowest limit card that I never use is $4k.  I was thinking of doing a manual CLD on that card to $300 (the lowest that creditor will allow) just to play with the card with different utilization amounts month to month to track some individual tradeline scoring datapoints. 

In thinking about this, though, I'm wondering if that $300 limit would in any way hurt my larger limit cards from being able to grow further.

[Anonymous]

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@elim wrote:

I think the sooner the better as other lenders tend to want to see how we handle large limits over 6 months to a year before they might match. As far as keeping the small limit... Sometimes I wish I had a low limit card for ordering specialty items only found at small sites online, ordering pizza, using shifty gas pumps while traveling, etc, but I can't ever bring myself to leave the limit alone, and soon it grows or I close it.  I figure I can always open the same card at a later time if needed (probably at a higher limit).

I have closed 5 accounts in 12 months without a problem, if that helps.

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I like this idea...

[noobody]

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@elim wrote:

I think the sooner the better as other lenders tend to want to see how we handle large limits over 6 months to a year before they might match. As far as keeping the small limit... Sometimes I wish I had a low limit card for ordering specialty items only found at small sites online, ordering pizza, using shifty gas pumps while traveling, etc, but I can't ever bring myself to leave the limit alone, and soon it grows or I close it.  I figure I can always open the same card at a later time if needed (probably at a higher limit).

I have closed 5 accounts in 12 months without a problem, if that helps.

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I call and ask CLD for cards i do not need high CL, like my cash+, freedom.

Why do I need 5 digits limit on those capped card?

[Anonymous]

I have a prepaid card for that type of situation-but I do aheee it's nice to have a small limit or prepaid card for those types of situations: (Websites that don't seem very legit.... gas stations in bad neighborhoods.... when you need to give a deposit for something or a trial membership that you don't want to get billed for if you forget to cancel or get grief for doing so..etc)