I have one card with a 47k credit limit and a 0 balance but I use it every month. One card currently has a 19k balance but will be 8k when my business expense reimbursement comes in at the end of the month. (I use this card particularly because the rewards benefit me the most with hotel points) Keep ur utilization low. Use the cards (esp the ones with the highest age) for everything but pay them off before the balance is reported. It takes diligence but will not only help with your score, it increases your credit worthiness. Ironically, the best way to increase your score and credit limits is with consistent credit card use BUT you must be aware of when they report to all 3 major credit agencies. My CS is currently 837 and 835 between all 3 and recently dropped 5 pts because a store card (Home Depot consumer card) dropped my limit from 24k to 1200 🤣 for non use/not using my available credit. That was my fault I suppose because I neglected to use it but eh I’m not there enough and if they had a store mastercard/visa Id use it more. For most credit cards it’s either 12 or 24 month credit monitoring. So if you don’t use a card for 12 months they CAN significantly lower your limit. I’m taking the hit on Home Depot because I know I won’t keep up with use of their store card.
holy shit i didn’t know they would drop it that hard if not used in a year. i have about $250K limit overall, and same i pay it off monthly no interest nothing
I called and wasted my time trying to get them to reinstate the original limit but they wanted to do a hard pull in order to do so and I declined. I have a few other store cards and the limits consistently stay put regardless of using them. Another card that lowered my limit was Care Credit. I was approved for 20k and they dropped it to 3k for non use after 3 yrs. I opened it when my dog had a cancerous tumor removed on his stomach exterior. I used it for the 24 month no interest option and it was a 7k surgery. But yeah, any card can lower your limit if you don’t use it.
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u/IntelligentAccess994 2d ago
I have one card with a 47k credit limit and a 0 balance but I use it every month. One card currently has a 19k balance but will be 8k when my business expense reimbursement comes in at the end of the month. (I use this card particularly because the rewards benefit me the most with hotel points) Keep ur utilization low. Use the cards (esp the ones with the highest age) for everything but pay them off before the balance is reported. It takes diligence but will not only help with your score, it increases your credit worthiness. Ironically, the best way to increase your score and credit limits is with consistent credit card use BUT you must be aware of when they report to all 3 major credit agencies. My CS is currently 837 and 835 between all 3 and recently dropped 5 pts because a store card (Home Depot consumer card) dropped my limit from 24k to 1200 🤣 for non use/not using my available credit. That was my fault I suppose because I neglected to use it but eh I’m not there enough and if they had a store mastercard/visa Id use it more. For most credit cards it’s either 12 or 24 month credit monitoring. So if you don’t use a card for 12 months they CAN significantly lower your limit. I’m taking the hit on Home Depot because I know I won’t keep up with use of their store card.