creidt card limit increase

[jodi]

I just received a notice that my BOA/MBNA cc limit has been increased...to $45k! Now, DH and I make about $36k combined. Isn't that ridiculous? We never carry a balance, and probably make on average one transaction per month, so I don't know why they keep increasing it.

My question: since we will probably never be buying a house, is there any reason why we should keep it high or call them to lower it? The only thing we may finance, and only partially if that, would be a car in the future - hopefully not for 2-3 more years. We both have credit scores in the high 700s.

[safari]

Having a high credit limit won't hurt your credit score, so I recommend keeping it. I had an MBNA card with $44K limit, and recently was approved for a Bank of America credit card with 0% balance transfer offer and $12K credit line. I was able to move $43K of the credit line from the old MBNA card to the new card, making the new limit $55K and transferring that whole amount into my savings account at 0% with no transaction fee. That's just one of the benefits of having a high credit limit on your cards.

[dardhel]

There is really no reason to mess with it. It won't hurt your credit score and as long as it doesn't tempt you to charge up to that amount there is really no point.