For the record, I have no intention of doing this, just wondering why I don't hear about it more often.

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[–] [S] 7 points 3 months ago (2 children)

I'm not so sure that higher limits reduce your credit score, if you kept your spending the same then your credit utilization % would be lower, which is a factor that increases your credit score.

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  • [–] 4 points 3 months ago (1 child)

    I don't know how it works. I never use a $1000 of my limit, let alone $25k. Especially at 20% or what ever my card is.

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  • [–] 4 points 3 months ago

    Yeah that dude is right. One of the things they look at is available credit. If you close an account with a $20k limit and zero balance, your score will drop.

    For any future/current parents with good credit: if you add one of your kids to your credit card, their credit rating gets a boost.

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