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Luckeysmoke

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18 point decresses in score after reducing credit card available balance
Why did my credit score decrease 18 points after I requested a available credit of $5000.00 to $1500.00 on a credit cards. It was requested by me and not reduced by the credit card agency.

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Doesn't matter why your limits were reduced.  Once reduced it messed up your utilization.  Why would you want to reduce your limits? Very bad idea.  The higher the credit limit, the higher your scores.

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Regardless of who initiated the credit limit decrease, $3500 would have a substantial impact on your utilization. I.E, if you had $500 charged across all of the cards, your utilization would have been 10%. Decreasing your limits to $1500 with the same balance would make your utilization 33%.

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Regardless of who initiated the credit limit decrease, $3500 would have a substantial impact on your utilization. I.E, if you had $500 charged across all of the cards, your utilization would have been 10%. Decreasing your limits to $1500 with the same balance would make your utilization 33%.

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