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
Lowering my credit line-- Utilization rate vs. loan chances
I know that in general, you do not want to lower your credit card limits as then your utilization rate goes up. However, my fiancee and I are combining finances and so, we are each adding a card or two, so our credit limits are going up significantly.

I've heard that a lot of open credit can count against you when applying for a loan (though if anyone has more information on that, I'd love to know about it), so my question is, should I lower the credit limits on some of the less used cards? Our utilization rate will likely be unaffected (it's around 15%) since we're opening a couple new cards. Would lowering those limits help in getting a loan?

Thanks for any advice.

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.