Credit Tips: Do Low Limit Credit Cards Hurt Your Credit Score?

Posted On: August 9, 2006

Author: gsr
Posted: Wed Aug 09, 2006 9:02 pm
Post subject: would having low limit cards hurt you?

I recently applied for a target visa card because i often shop there alot but surprisingly they denied me, and gave me a targt red card with a limit of 300 dollars. Would that look bad? My other limits are 5000, 2200, 3000, 3000, and 2000, and 1000. My score was 720 on the credit report they pulled.

Author: wierdo
Posted: Wed Aug 09, 2006 9:18 pm
Post subject:

It’ll only hurt you if you ever have a balance of more than $90 reported. :p

Keeping my reported utilization below 30% is why I’ve been working at prodding Citi into CLIs on my gas card. These days I spend so much on gas that if my CL was still $200 on that they’d be reporting 90% utilization every month.

I need to badger them for a couple hundred bucks again next month.

Author: usmsci
Posted: Wed Aug 09, 2006 10:01 pm
Post subject: Do Low Limit Credit Cards Hurt Your Credit Score?

wierdo wrote:
It’ll only hurt you if you ever have a balance of more than $90 reported. :p

Keeping my reported utilization below 30% is why I’ve been working at prodding Citi into CLIs on my gas card. These days I spend so much on gas that if my CL was still $200 on that they’d be reporting 90% utilization every month.

I need to badger them for a couple hundred bucks again next month.

your score was 720 and they denied you? do you have any recent late or derogs? thats almost as bad as citibank. ive gotten approved with almost every known creditor to mankind but citi wouldnt take me on account of a bad collection 5 years old.

Author: gsr
Posted: Wed Aug 09, 2006 11:02 pm Post subject: Do Low Limit Credit Cards Hurt Your Credit Score?

Actually i havent had any late or derogs on any of my credit reports, and thats why i thought it was so strange. My Fako score is 720 but im sure my real fico score isnt too far behind, and i thought that my score was ok for a target visa. I ask the person why i got declined but they didnt know what i was talking about (a lady from india). I called back and gotten a guy ( thats from india) and he said he didnt know nothing so basically im kinda on what to do with the card.

Author: gsr
Posted: Mon Aug 14, 2006 4:19 pm
Post subject:

Apparently they didnt like that mbna was reporting my limit as a high balance and not a limit so they think i owe alot of money. Thus resulting in the approval of this card.