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If i request that the credit limit be lowered will this adversely affect my credit (FICO) score
I have one credit card with very high limits. I do not need limits this high.

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Taylor makes a good point, and I would like to add to that. The only time I would suggest you reduce your limit is having multiple accounts with a lender and you wanted a new credit card with that lender. Here's what I did.  I had a 10k credit limit each on two of my Amex cards. The Costco card will no longer be good after April 2016, and I'm not charging that much on it. I also had 10k available on my Everyday Preferred, but found the card was no longer working to my best advantage anymore. I wanted to apply for the Blue Cash Preferred, but figured they wouldn't approve me, or give much of a limit as I already had 20k available. I reduced my Costco card to $2000.  I applied, and received the Blue Cash card with a 7k limit.  The next month I called Amex and requested the 10k on the Everyday card be closed and transferred to the Blue Cash. They approved 8k transfer. Now I have 15k on the Blue Cash, and 2k on the Costco., totaling 17k availability through them. I lost 3k, and my Vantage score went down 1 point for a couple weeks, and I've seen no change on my FICO score.  Hope this helps. If so, please click the thumbs up.

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Higher available credit is a good thing!

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I would not recommend requesting to have your credit limit lowered as total available credit limit is a big part of the calculation of your credit score. For example, if you have a credit card with a $500 credit limit and you regularly only charge about $50 a month on the card and pay it off each month, you are only using 10% of your total available credit. Higher available credit also helps your appearance as a "good borrower" as it appears as though lenders trust you with larger lines of credit. Generally, $2,000 or more in available credit is desirable and will help continue to improve your score. Requesting to have your credit line decreased could raise your utilization (think about the $500 credit card example above being decreased to $300 with you still charging $50 a month. That would raise your utlization to ~17% and decrease your total available credit by $200.) Depending on what you are looking to do, you could speak to your credit card company and see if they can place a daily spending limit on the card or something to that effect where you are able to control you or your authorized users' spending habits more.

Hope this helps!


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