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Do you want to lower your credit limit or do you want to go into a creditcard forgiveness program and settle for less than you owe?

Most people do not want to lower their credit card limits because one of the considerations in credit scores is the ratio of amount used to credit limit. You usually want to keep this ratio under 30%. So a card limit of $7500 would have you using credit up to 29% or $2250. This alerts the lenders that you are not in trouble.

hope that answered it. If not hot e up again.

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Q: Can they lower your limit lower than what you owe?
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