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Question By
moneygrrl

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Will my rating go down some initially if I ask for my credit card maxes to be lowered?
I am looking to purchase a new car this month and wanted to walk in with the highest score I could. Would asking to have them lowered ding me in the short term? Should I wait until after I purchase the car?

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It depends how much you use the card, if you stay under 20% or if you pay down the bill before the statement closes to 20% it won't hurt your score.

Reply by
moneygrrl

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Thanks so much!

I pay off all my credit cards before they are due each month.  The only issue I have is the amount of all open credit is 3/4 of what I make annually which is what is hurting me - the potential.  But I didn't want to call and have them lowered (making it better in the long run), but have it drop in the short term re: any possible 'hard' searches.

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thanks much!

I pay off all my credit cards before they are due each month.  The only issue I have is the amount of all open credit is 3/4 of what I make annually which is what is hurting me - the potential.  But I didn't want to call and have them lowered (making it better in the long run), but have it drop in the short term re: any possible 'hard' searches.

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