Too much credit available? me and my boyfriend are having a disagreement... conceivably you can help.

me and my boyfriend are having a disagreement... conceivably you can help. I own 2 credit cards, one with a 10k credit constraint and one w an 8k credit limit. I hold never even come close to maxing them out, never even used 50% of available credit. I do carry a set off but always salary ontime, never missed a payment. He claims that have 18 k in credit will prevent me from getting loans within the future bc of my spending "potential".... i deliberate that bc i always own kept my revolving balance low and settle on time it is fine. (also I enjoy student loans and a car loan that i also hold always salaried on time) who is right? Also, would it effect my credit score negetively if i remunerated off my cards and asked them to drop the put a ceiling on??

he's right.
they don't supervision how much you've previously spent or have spent it's what you might possibly spend that worries them.
ditch your 10k card and you'll be fine
you don't call for that much credit card anyway you'll only seize yourself into trouble.

I would not ask to drop the limit because the more available credit you hold the better your credit score. As long as you are not spending beyond your system it is very accurate to have that much available credit. Lenders look at that within a good night light not a bad one. You might want to consider paying stale your loans with one of the cards as long as it have a low interest rate. That will boost your credit also as it will show that loan paid surrounded by full.

Answers: Available credit is not debt no matter how you look at it. If it be, it would be called available debt.

It would hurt your score if you requested a credit limit decline. You would be negatively raising your overall utilization.
Even though you pass a low balance on your cards, you would still enjoy to factor in the utilization on your loans.

It is a misconception that lofty credit limits or have higher credit margins overall that exceed a persons annual income is a bleak thing. It's in truth quite the reverse - "as long as the accounts are continually kept surrounded by good standing"

That's not to say-so there isn't the "occasional" lender that believes within that same misconception, because there are a small few that do.

But, when a being takes attention to detail of their credit, has soaring scores and even have high credit confines, that one lender who believes available credit is debt does not matter. There are abundant lenders, who don't believe available credit equals debt, waiting in the wing ready and of a mind to not only bequeath that person a loan but to also grant them the best rates.

some places look at how much credit you own,.....even though you have impossible it, the chance is nearby that you could,.....how ever you have other paid the credit, and that counts for something,..... your credit ranking will not be affected on how much credit potential you own, but the lender might look at how much you could have,.....and that could effect how much they will loan,.....hope this info help you, if not contact me,.....

You shouldn't ask to drop the limit. Keep the utilization low on the cards. The individual time that you have too much credit is when you do not trademark enough money to afford the cards balance. A lot of the larger creditors will ask for income verification.

Though I hate answering question about credit, (everyone seem to have their own answers), I own to answer this one.
Some answers here are not right. The folks who said that "Credit Potential" won't hurt you are RIGHT ! It is actually a righteous thing surrounded by the eyes of credit bureaus to have a biddable amount of credit. It will NOT lower your credit score. What will lower your chalk up is late payments, charge offs, default and such. Also too many inquiries. Every time you apply for a hot loan or new credit, your evaluation is checked and to many of these will lower your evaluation. So if you have credit, DO NOT eat up it or cancel it. Cancelling it can in actuality LOWER your score. So preserve the credit you have, and be responsible.....

How do you resolve how many credit cards to own? There are reason to have more credit cards, and reason to have not as much of cards. Here are reasons to own few credit cards:
1. Each time you unfurl a credit card, 20 points are taken off your credit chalk up.
2. It is easier to manage your nouns if you use only one or two credit cards. The more credit cards you enjoy, the bigger risk of damaging your credit you get.
3. If you have more credit cards, you should check more credit statements for errors.
Here are some reason to use more than one card:
1. The first reason is credit card embracing. May be American Express Blue credit card satisfies your requirements. But frequent merchants don't accept this card, so you'll probably want a Visa or MasterCard as capably.
2. Different cards offer greater rewards on different types of purchase, for example, some credit cards offer better rewards on gasoline. So if you have several credit cards you can trademark the most of rewards you get.
So how tons credit cards should you hold? Most experts say near is no magic number. It depends on the amount of shot and time you are going to devote to saving money. Never use more credit cards than you can oversee. It is much more better have positive crredit history. Besides if you approachable too many accaunt hill can decide your already own enaugh and don't give you money.
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