Can a person reduce their credit limit by calling the company?

My friend told me that I could call my credit card companies and have my credit limit reduce to a limit that I'm more comfortable with is this true.|||You can certainly ask to have your credit limit lowered and the credit granter would most likely not have a problem in doing so, but, there can be negative effects to your credit report in lowering your limits.





Part of your credit scores are derived from a ratio of utilized credit to available credit. If you carry zero debt from month to month, your credit scores will not be affected by lowering your limits. If you do carry debt from month to month, your ratio of utilization will increase, and your credit scores will lower.





Example:


Carrying zero debt: $0.00 utilized / $10,000.00 available = 0% Utilization


Reducing your limits: $0.00 utilized / $5,000.00 available = 0% Utilization





Carrying $2,500.00 debt: $2,500.00 utilized / $10,000 available = 25% Utilization


Reducing your limits: $2,500.00 utilized / $5,000.00 available = 50% Utilization





Using a higher percentage of your available credit means you are at a higher risk for delinquency and defaulting on your debt than someone who carries no debt and will have a lower credit score.|||Yes of course, and a very good idea at this point in the roller coaster ride banks are having.|||In theory, that is true. But, you don't really want to do that, as it will hurt your credit score. Just don't use your card very much, and don't charge things that you cannot afford to pay off at the end of the month, and you will be just fine.|||Most companies will lower your limit if you ask them to. Beware, as this will affect the ration of how much of a balance you have against your limit (if you have $4000 in debt on a $6000 card you are now using 66% of your limit. against a $12000 limit you are only using 33% of your available.) A better strategy would be to control your spending better. If you cannot, it may be worth the hit to your credit score to keep from getting in over your head, I suppose.