My credit card company reduced my credit limit

Member since 2024 · 2 posts · 2 votes

I'm out of debt, don't really plan on using my card much except for emergencies but the recovering spendthrift and the riskier investor sides of me - are curious if I should call the company back and ask for them to raise it back as it might affect my credit score.

Currently my credit score is in the 800's - any thoughts?

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Bryan MaddexBusiness Member

Lender · Charlotte, NC · Member since 2015 · 160 posts · 76 votes

Your credit limit on an unused card will not generally affect your scores. Credit scores are made up of many factors, one is the utilization of an account vs its credit limit. Another is your credit utilization vs all credit available to you.

I would not ask them, but make sure that you do have several cards available to you!

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Jonathan Bock
Accountant · Bryn Mawr, PA · Member since 2023 · 409 posts · 321 votes
1y
Fight your instinct
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Bryan MaddexBusiness Member
Lender · Charlotte, NC · Member since 2015 · 160 posts · 76 votes
1y
Your credit limit on an unused card will not generally affect your scores. Credit scores are made up of many factors, one is the utilization of an account vs its credit limit. Another is your credit utilization vs all credit available to you.

I would not ask them, but make sure that you do have several cards available to you!
Bello Mortgage powered by Coast2Coast Mortgage
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Dee R White
OP
Member since 2024 · 2 posts · 2 votes
1y
Thank you @Jonathan Bock and @Bryan Maddex
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John BurkePro Member
Lender · Temple, Texas/Nationwide · Member since 2024 · 85 posts · 24 votes
1y
Quote from @Dee R White:

I'm out of debt, don't really plan on using my card much except for emergencies but the recovering spendthrift and the riskier investor sides of me - are curious if I should call the company back and ask for them to raise it back as it might affect my credit score.

Currently my credit score is in the 800's - any thoughts?

Yes, the credit utilization ratio does impact your scores (see below) but, if you're out of debt & not using your credit cards, you may not see a hit to your scores.
Amounts Owed (30%): Represents your credit utilization or how much debt you owe compared to your credit limits.

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