After searching the forums I found a lot of information, impacts and thoughts about increasing and decreasing your credit limits on your credit cards.
I have a little different situation I was hoping to get the groups thoughts on. I have a Capital One credit card that had a limit of $30,000 which was lowered to $10,000 last week. I called in and they said it was because I did not utilize enough of my credit limit but had nothing to do with any changes in my credit that the representative could see. In fairness to them (probably the computer program that did it) I typically charge about $600 per month on the card. I have had, however, three months in the last year where I have charged more than $1,500 and it is always paid off in full. I am a little worried now that I go over 10% of this cards limit a few times a year and it could negatively impact my credit score. Is this a valid concern? I also have a separate card with a $20,000 limit but the capital one is my primary card as I like the rewards the best. I also don't want to go through a credit check to raise a limit when I am not sure I need the space any longer.