Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
I paid down a bad card but should I get another right away?
I had a $6000 credit limit with Cap One. In spite of a stable and high-payment history, the credit limit was reduced to match debt owned. Cap One cannot explain it, but won't reverse it. I have paid the card down to $100, but within days Cap One reported the credit limit reduction and my credit rating was negatively impacted. Should I wait for the credit agencies to see that I have paid the card down and the debt ratio is now less than 10%, or should I just get a new card and cancel the Cap One and never go near them again? This stuff is SO complicated, and I am never sure what is the right step with these arcane unpublished rules! Anyone with good advice out there?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.