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ihavenoscreennametouse

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What are the repercussions to closing old accounts with high credit limits?
Looking for the best debt-to-income solution. Would like to apply for a loan. Close accounts or lower credit limits? Does it drastically effect credit score to close accounts?

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If you are truly looking for, "the best debt-to-income solution," you will not want to actually close the accounts; but reduce the balance on those accounts.  Keeping the accounts open will help your score by reporting your time of the account.  However if you have a lot of missed payments related to the card; you may want to consider closing the account with a 0 balance because "some" scoring models (like the advantage score provided here on Credit Karma) dont actually count the hisotry of closed accounts.

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NEITHER!!!

One factor in your credit score that enables you to obtain more credit is how much you already have.  Sounds crazy but being granted credit is a demonstration of trust by the lender that you will repay the money.  The higher your credit limit total, the higher your credit score and the more likely you are to get a loan, buy a car, finance a mortgage. If you close the account or lower your credit limit, you are actually hurting your credit score.

Better to get the debts reduced by working on paying off the accounts you already have. THAT will improve your debt to income ratio! 

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