Will a credit card company lower the credit limit for you?

[MrsBone]

We have a discover card that has a 11,500.00 limit on it. We only have 350.00 on it right now but the whole time weve had it its carried a balance that we can't pay off each month. We are completely debt free due to a generous family member... Except this damn credit card that we can't seem to keep a balance off of. My husband has spent years building his credit up after a very irresponsible early 20s credit card spending. We've done okay so far but we've received a yearly gift of money that has bailed us out of debt since we wed 8 years ago. We now have 20,000 in the bank and only 350.00 worth of debt and I'd love to stay debt free. Problem is, DH is a big spender. He doesn't know how to be happy with what he has. There's always something he needs to get, "because its a deal right now." I don't see this ever changing. I want to cancel this credit card because it will force him to only buy what he can afford rather than throwing it on the credit card and paying it off later. He thinks its dumb not to have credit available in a pinch. If it was just a couple thousand it wouldn't bother me too much, but the credit card company keeps upping our limit. Will the credit card company lower the limit if you request it?

[chickabiddy]

Originally Posted by MrsBone 

Will the credit card company lower the limit if you request it?

Yes.  You may have to ask several times and/or request a supervisor's assistance.

[3timesamom]

Are we married to the same man? UGH! It is exhausting and it is just from one new toy to the next. He is never happy with what he has. OMGOSH I could go on and on. Anyway the cards were in my name and I canceled them. They will lower the limit if you ask.

[EarthyMamaofDaisy]

My husband used to steal my credit cards and run them up.  The only thing I could do was to cancel them.  I cancelled them before paying them off so that he couldn't add any new charges.   His credit is too horrible to get a credit card so as long as I have no credit cards he can't run up any more debt.  We have been debt free for a few years now and he finally understands my pov of not wanting credit cards any more.

[MrsBone]

To be fair, he runs everything by me before making purchases. He doesn't just buy stuff without me knowing, but I'm just a pushover and let him do it. I called today and they lowered it for me to 5000.00. Didn't tell hubs yet though. I figured if wait until it became an issue:)

[3timesamom]

Sadly I am glad I am not alone....