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dicene1

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13 People Helped
did i mess up dropping my credit limits?
At the suggestion of my banker I lowered my credit limits and closed many of my credit cards all in one day even tho they had a zero balance..... my score dropped 4 points?? I need to know how to fix this

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Top Contributor
497 Contributions
1203 People Helped

Lowering credit limits and closing accounts can affect your credit score in a negative way. It's always good keeping accounts open and in good standing. You can also use each account a least once a year to keep them active, just remember to keep credit card utilization under 20%.

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