Remove credit limits

[FrogsRUs]

How do I remove original credit limit to closed accounts with zero balance?

[Remedios]

You don't.

If data is correct, it stays untill CRAs remove it.  

You can ask OC to remove entire account (if no negatives are present) but that probably won't work.  

Credit limit on closed account has no bearing on your scores or future approvals, it's just another account that does nothing but contribute to aging metrics. 

[FireMedic1]

@FrogsRUsInquring minds want to know. Why were you asking? If they were higher limits. They would help for future apps. Just curious.

[FrogsRUs]

Hello FireMedic1

Thank you for responding to my post so quickly. I opened a Home Depot acount three weeks ago and used it that day. I have a zero balance now and want to close it. It was mentioned that if I do it has a negative effect because of my CL is showing on my report.   

[FinStar]

@FrogsRUs - honestly, the 'damage' is already done as this new account will lower your AAoA once it reports.

Just curious, if you used the card 3 weeks ago, why do you want to close it? Was it a one time thing, like an impulse application and/or to receive a discount of some sort for opening the account?

[FireMedic1]

This ^^^^^^^^^^

There's no 30 day return policy in new credit accounts. Once you hit submit. Its done. Its on your reports open or closed. You took the hits. Look at it as another card for the herd. 

[FrogsRUs]

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@FireMedic1 wrote:

@FrogsRUsInquring minds want to know. Why were you asking? If they were higher limits. They would help for future apps. Just curious.

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Now I know a leason learned. Thank you again.

[FrogsRUs]

Hello FinStar

It was an impules. We are remodeling the kitchen and throught it was a good idea for about 2 minutes. I thought it would raise my score by lowering my cumulative util in conjunction with paying it off every month. I took a large hit on my FICO, beside the interest rate around 26.99%

[FinStar]

Hi @FrogsRUs - what was the approved credit limit on the Home Depot CC? 

[FrogsRUs]

5K