21 May, 2009
Myth 1: You Can Boost Your Score by Asking Your Credit Card Company to Lower Your Limits
Posted by: Steve In: Credit Card Myths| Fico/Credit Score
This one is a variation on the idea that reducing your available credit somehow helps your score by making you seem less risky to lenders. Once again, it’s off the mark. Narrowing the gap between the credit you use and the credit you have available to you can have a negative effect on your score. [...]
Tags: credit card limit