Been given a credit limit increase, is it best to reduce the limit if I wont use?

richardc1983 · 25 November 2011 at 10:39AM

Fruit_and_Nut_Case wrote: »

Cutting it up is not sufficient to close the account. You need to tell the company if you want to close the account or it will still appear on your credit report.

I know but it's so I don't use it and use the virgin one instead.

natlie · 25 November 2011 at 10:45AM

If you are sure its not going to be tempting to spend on it keep the limit but too much available credit can be bad on your credit report too

chanz4 · 25 November 2011 at 1:20PM

What I ment was it will look better on a report to have the final credit limit been the higher one. I dont use my capital one no more, kept the account open as it still reports fine in green to cras for over a year. I keep an eye on the account but the card was shredded.