Can you request a CC company to lower your available credit?

And will it hurt your credit?


I have just paid off a 5000 CC but would like to keep the card @ maybe $500. Wasnt sure if you can request it to be done and if it would affect you. If so i will leave it alone|||Yes you can ask a cc company to lower your limit. It can affect your fico score negatively because it will change the ratio between what you actually owe and the maximum amount of credit available to you. Credit experts like Suzie Orman say that you should not always cancel credit. Take a look at the website bankrate.com. They offer good financial advise.|||If you have the self discipline not to overdraw your checking account you should have the same discipline not to go nuts charging on a credit card and keep an eye on what your spending every month.|||I would not advise doing that. Just make sure you do not use the card above $500. If you lower your credit line to that limit, and you charge over 50% of your total credit line, it will hurt your credit score.





Plus, you never know when a emergency comes up.|||Yes, they will report it and it will look like they lowered your limit on you. However, if you cancel the card and apply for a new one asking for the lower limit they can do that for you. I had been offered a huge rate at one point and I declined and asked for a much lower one when I applied.|||yes u can|||You can but make sure that they report this to the credit reporting agencies as your decision otherwise it will hurt your credit as it will look like they lowered the limits|||Yes, you can call the credit card company and tell them you want to stop all transactions after the balance has reached $500.00! I believe they can do that for you.


It wouldn't effect your credit score because you would still have the $5500 line of credit. Your bill would just stay under $500.|||It will negatively affect your credit if you decrease the limit. If you drop it to $500 and then charge $500 or more in the ensuing months, you'll be hit with overcharge fees.|||Yes. 10 yrs ago I asked Discover to lower my $2000 credit limit to $1000.





(They ended up raising it to $4000 within a year or something like that...)|||You can try, but you will have to talk to a real person as opposed to requesting it online. We have checking %26amp; savings accounts w/Wachovia and wanted a $500.00 credit card to use just for online ordering. We tried Discover %26amp; Visa first since we already had cards w/them (for years), but they wouldn't even consider anything less than $1,000.00. So we went to Wachovia and the lady called the CC dept. My husband had to talk w/ the person there himself and he had to threaten to cut up the card if they ever upped the limit in order to get them to promise not to do that.





Good Luck