What did you accomplish today?

[JustJo]

Originally Posted by desdansmoncoeur

Hopefully my credit score thanks me for paying off my credit card. I am even debating calling and lowering it to half of that. Part of my mind keeps telling me to keep my limit where it's at because maybe I might need it as an "emergency fund" - which is quite possible! and because creditors in future may see asking for a lowered credit limit as a weakness, like I don't have enough control to not spend it all? Hmm. Food for thought!

Just an FYI...if you want to improve your credit score there's a few key things...

1. pay your bills on time...all of them and always
2. have 3 open lines of credit...that's mortgages, car loans or credit cards
3. do not exceed 1/3 of your available credit...so if the credit card company says your limit is $1000 never have more than a $300 balance on that card

Obviously, you can't do the third one with a car payment or a mortgage in the beginning of the loan....but asking the credit card company to cut your limit in half will make it look like you've used a larger percentage of your available credit...and lower your score.