Posts about best credit cards
Lower credit limits on credit cards can affect your credit score. A large portion of your score depends on the percentage of debt you carry when compared to your maximum allowed limits. That means that if your credit limit is decreased, the same balance you had on a higher limit now uses up a larger percentage of your limit. That could, in turn, negatively impact your credit score. If you had a card you did not use for a long time that was cancelled by the bank, it could impact your score too.