Will lowering the limit on my credit card hurt my score? related questions

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Will lowering the limit on my credit card hurt my score?0Athena2012-09-13 10:44:08
I have two credit cards . One that had a limit of $ 3,000 . I dropped to 700.00 recetnly because I use it online and I have fear of identity theft and did not want a lot of credit on it . The other card that I have has a zero dollar balance . Now I worry that this will lower my credit score . My husband and I are planning to buy a house , and I worry that this will reflect negatively against us to get a loan . We have a good credit score , not lower the credit limit on your cards . Does anyone know if this counts negatively? Should I call my card and raise my credit limit again ? Or is it bad to do well?
Will it help or hurt me to obtain a secured credit card ($1,000 limit) 1 month before applying for a car loan?0e.c2012-09-23 10:11:02
Hello , For a little history : MedlinePlus I have bad credit . I'm thinking of going to a car dealership bad credit and financing a car at the end of February, because I need one ( do not have one, not an option ) . My credit score is 570-580 ( depending on whom you ask) , and no open accounts. There are 4 closed negative accounts (each is 5 + years old ) , amounting to about $ 400 ( I pay to delete letters sent and hope to hear back soon. ) I budgeted $ 2,000 for the down payment on the vehicle. I also have budgeted money to pay those bills on my credit report . I have an extra $ 1,000 to any of MedlinePlus a) Give a down payment ( for a total of $ 3,000 down) MedlinePlus Or MedlinePlus b ) Get a secured credit card with a limit of $ 1,000 . MedlinePlus MedlinePlus So I did an analysis using IdentityGuard.com credit , and said if I had a credit card with a limit of 1000, my credit score will rise from 580 to 601 in a month . I am aware that at this time I can not show all the payments , so my question is going to help me or hurt me to get a secured credit card when I go to apply for a car in a month? Is it better to leave it alone and does not apply at all and just have a big down payment ? Or is it better to show that I have an open mind , even if it is new and used display any time in history , with a little smaller down payment? MedlinePlus MedlinePlus I will have a secured credit card with time to improve my credit , but as for now , I just want to know what is going to help my situation at getting a vehicle . MedlinePlus MedlinePlus Thank you !
Will closing a secured card to obtain a unsecured card hurt my credit score...also more ?s 10pts?1oshar2012-09-23 04:14:02
Is 2 secured cards and a secured loan to much to build my credit?
Credit score building by maintaining a balance of 30% credit/card limit on my credit card?0lj2012-10-12 02:11:00
Answers Hello Community , MedlinePlus MedlinePlus Since graduating college and discover that he had no credit history was eager to get started so that someday I could get a mortgage . I got my first credit card about two years ago , and did a lot of research on how to maximize the benefits towards my credit. Currently I have a car loan , a student loan deferred , and an unsecured credit card with a limit of $ 1,000 . I've been keeping the monthly balance of $ 300 each month in hopes of improving my credit score . As a result we pay about $ 06.05 in interest each month . MedlinePlus MedlinePlus It is maintaining this balance $ 300 good for my credit score due to the use of "ideal " credit ?
Would closing this credit card hurt my score?0adjective2012-10-01 20:55:03
I recently graduated from college , and I have really wanted to start building my credit , which currently does not exist ( I managed to pay all my debts just before I graduated , so I can not build credit that way now ). MedlinePlus MedlinePlus I was thinking of applying for the secured credit card Citi intended for people who have no credit history , and after a year and a half that could be eligible for a card "unsecured" credit . However, this secured card has a $ 30 annual fee and the guarantee has none. If I was to finally get the unsecured card and close the account for the insured , and he does not want to keep paying $ 30 a year , which hurt my credit score ? And any tips for building credit , please ? MedlinePlus MedlinePlus Thank you !
What is a good credit card limit to have in order to improve one's credit score?0BBF2012-09-23 16:35:03
I recently opened 3 secured credit cards with a credit limit of $ 300, $ 350, and $ 300, respectively . I subscribe to full credit check and received the following tips to improve my score . How much should I increase my limits ? Should I increase I can raise three or just one? What is the magic number of credit limits in order to improve your score ? With my credit cards secured basically put money in the accounts if you want to increase the limits . Any advice is appreciated . MedlinePlus MedlinePlus Total credit check : MedlinePlus " Having low credit limits on your accounts and loans has negatively against your credit score . Having a lot of credit is a positive factor because it indicates to lenders that other creditors have trusted you by lending money in the past. however, since the main limits of credit cards are generally low , lenders may think that you do not have enough experience with high limits . "
Should I increase my credit card limit to raise my credit score?5shyam2012-09-14 23:02:10
Right now I have a Platinum MasterCard with no balance on it, and I want to keep it that way you only for small purchases . My credit line is $ 10,000 from now , I must increase my credit line to $ 20,000 and not perform any or a minimum balance in it to help my credit score. Will it be beneficial to improve skills and get good interest rates on mortgage loans and auto loans in the future? I really just want to have the best score possible to save the most money in the future.
If I Open up a Secured Credit Card with a $5000 credit limit, will that increase my Credit Score?1culittinpiky 2012-08-14 07:49:03
I'm trying to increase my credit score, Experian: 670 to 651 TransUnion - Equifax 650 ..... As you can see I'm trying to get into the 700 Club, so I can make my own eligible for a better loan to refinance a house and my car
Would increasing the credit limit of my secure credit card help improve my credit score?0Wyatt2012-11-03 14:48:03
I have a secured credit card , which I hardly ever use and when they use it , I have to pay the balance within a week . I just got the credit card in January but has already had a positive effect on my credit that I can check monthly. The current credit limit is $ 500 and I'm wondering if I should increase to $ 1,000 . Would that help my credit score as I understand as to buy a house . I am a first time buyer and I want to work on my score , while I save for a down payment . MedlinePlus MedlinePlus The other things on my credit file is a bill book for $ 87, a $ 570 phone bill , 3 and student loans totaling about $ 4000. I am current on my student loans now , but it was in the beginning of last year in one of them . I sent a dispute over the bill book yesterday , because I have no idea where it came . I am disputing the account balance phone . Once I have that correct , I have the intention to make a payment for disposal . MedlinePlus MedlinePlus Thanks in advance for your help! ! ! :)
Does maxing out a credit card hurt credit score?0fubu2012-10-07 03:56:07
My friend told me that maxing out a credit card or near excessive spending is not bad for your credit score when you just have a lot of credit to start . I approved for 1260 a limit on the BestBuy card . MedlinePlus MedlinePlus Currently I 'm only paying a student loan and car loan and I have a Sears card . I have no credit cards. Be store credit cards do not have a big impact on credit scores . MedlinePlus MedlinePlus Does anyone know if this is true that I have almost no credit established that if I spend the 900 + for television at best buy and put it on the credit card with a limit of 1260, it will affect my credit score ? MedlinePlus MedlinePlus I will make all payments on time and pay more than the minimum required .
Will opening a 3rd credit card, hurt my credit score?0Dexter Gibons2012-11-02 11:25:03
I have 2 credit cards today and a car loan all in good condition . So if I open another credit card that will hurt my credit score in the short term? MedlinePlus THANKS
Credit Card...should i lower my limit?1Destinie2012-10-13 09:31:03
I just got approved for a credit card with a limit of 5k in it . the last time I got a credit card limit lowered my 1k and never recovered to $ 0 to i consolidated all my loans . I lower the limit or keep it in 5k

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