Lowering credit card limit

[Nocturnal]

Is it a simple phone call or will I have to send a letter indicating I would like to lower my credit card limit?

 

[nonameo]

Why?

 

[spidey07]

Terrible idea to lower your credit limit, bad for your score.

 

[OCGuy]

Originally posted by: spidey07
Terrible idea to lower your credit limit, bad for your score.

Winner.

 

[boomhower]

There is absolutely no reason to do this. It will not benefit you in any way possible. For anyone that says having to much credit makes you more of a credit risk, they are wrong. If your scores are solid it does not matter. A single lender may limit their total exposure but others typically will not pay attention to your credit available but rather your scores. The one exception may be if your trying to get a mortgage in which case I would only do it if it was a condition for approval and they had the best deal going.