How will lowering credit limit affect my credit score?

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jacman456
 
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Joined: Mon Nov 26, 2012 2:14 pm
Location: new york NY

How will lowering credit limit affect my credit score?

Postby jacman456 » Wed Feb 20, 2013 10:48 pm

I have a Capital One secured Mastercard.

It came with $200 limit.

I made deposits totaling $800, bringing my credit line to $1000.

If I reduce this amount (returning some of my deposit to my bank account), and I MAINTAIN my credit utilization, will this in any way affect my credit score?

Let's say I take back $500 of my $800 deposit, leaving a total credit line of $500, $200 is their original limit and $300 which is my deposit. I will maintain a credit utilization of below, say 35%.

Many thanks
Jacman


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