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?
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.
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.
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?
Categories: Score Advice
Why does closing a credit card you are no longer using negatively affect your credit?