When credit cards companies reduce your credit limit how does that affect your credit score?
It could be huge. BUT, if you have a $0 balance............which
you SHOULD....it won't matter. It's all about percentages. A credit
card w/ a $1000 limit w/ $300 on it...is OK (keep all cards below
30%). A credit card w/ a $500 limit and $300 on it is BAD (60% of
the credit is USED). The key here is to "HAVE" CREDIT........NOT
"USED" CREDIT. It's all about percentages. Credit is only
credit......if it's available.