canadiandebtgirl

What I Did with Credit Card #3

In Uncategorized on January 22, 2010 at 3:12 pm

For the time being, I’ve left Credit Card #3 open and decreased the limit to $500. The thought behind this is to keep the amount of credit available to me at a minimum without closing the account entirely. Once I’ve paid off Credit Card #2 to 75% of its limit, I will cancel Credit Card #3.

I’m really hoping that come May when I check my credit score it will be in the higher bracket. I don’t have a number to compare it to as I simply just order my free credit reports annually from Equifax and TransUnion and they don’t come with a score. But once I do get my score, I will keep track of it yearly to watch it slowly climb up higher.

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  1. Are you reducing your available credit to reduce temptation or to try and lower your credit score? Sometimes doing the latter can impact your score negatively… It’s something I’m thinking about doing too as I have way too much credit (some of my cards have more than $10,000 available).

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