| I can see everyone getting upset if they use the card alot, and use it for large purchases which bump near the credit limit. However, if you are not using the card alot, and you never go near the limit, then it just shouldn't be a big deal. What most folks don't realize is that when they apply for credit, a loan, whatever, the lender not only looks at how well you pay off your bills, but also how much credit you have available to you. The more cards at higher limits you have, the greater your credit risk. The higher the credit risk, the lower your magic credit number.
I found this out years ago when someone simply upped my credit on one card to $10K at the same time I was applying for a loan. The loan agent questioned the new limit. I canceled that card same day. |