Thread: Credit card with low limit hurting my credit score?

I have a credit union visa, first card I ever had with a low limit of 300.. I want to close it because my report says I have a low limit which is hurting my score. Any thoughts? I've never close any card before.

I would not close my oldest card. The average age of the accounts is a good boost to your credit. Rather than closing it, I would ask for a credit line increase.

Print a copy of your credit report, and figure out how old each account is, then average them. If your average age isn't affected much by removing it, and they won't give you an increase, then close it. But if you have a bunch of new accounts and one or two old accounts, then your score could go down by closing it. The closed account will still be on your report, but it will show up as "closed by consumer".

No AF. The only reason I keep it is cuz cash advance on this card is the same as purchases. Every time I ask they deny for bogus reasons.