Posts Tagged "limit"

Asking your lender to reduce the credit limit on a credit card could hurt your credit scores

Dear Experian,

I have one credit card with a zero balance and a $10,000 limit. Will my credit score be hurt if I reduce my limit to $5,000?

– CGC

Closing store credit cards could affect your credit scores

Dear Experian,

Can closing a few of my department store credit card accounts affect my credit scores if I have established good credit and have high credit scores? My husband wants to eliminate our higher interest rate cards.

– LTB

Difference between “balance-to-limit ratio” and “debt-to-income” ratio

Dear Experian,

What is the appropriate balance-to-limit or debt-to-income ratio? I do not maintain a balance on my credit cards but worry that I have credit limits that are too high and could impact my overall credit.

– TBL

Utilization rate may be cause for lower scores when you have few accounts or low credit limits

Dear Experian,

I only have one debt which is less than $1,000. I also have two credit cards. Together they have a balance of about $2,000 each month, but I pay them off monthly. Why isn’t my credit score higher?

– KCE

Responding to credit score factor that says proportion of balances to limits is to high

Dear Experian,

Recently, I was told that my proportion of balances to credit limits is high. If I keep making payments to my credit card and keep my statement balance below 20% of my credit limit, will that help?

– ATD

Experian does not extend credit or provide credit cards

Dear Experian,

How can I get a credit card with Experian?

– SHL

Lowering credit limits can hurt credit scores

Dear Experian,

I have heard that requesting lower credit limits can hurt your credit scores. Is this true?

-MMB

The impact on credit scores when you exceed your credit limit

Dear Experian,

Will going over the credit limit on a credit card affect my credit negatively, even if the creditor does not charge a fee?

– CHO