I have the regular Household Mastercard (white with blue bubbles, horrendous looking) that I was sent in response to a pre-approved offer a while back. They pulled EXP and gave me a $300 limit, my lowest limit, by far, of any card. This limit is so low, the card is totally unuseable. I tried clicking on the 'submit balance transfer' button on the website, thinking perhaps I could bump up the limit with a BT, but it said "You are currently not eligible for this feature". Fabulous. I called customer service and asked them for a limit increase. Rejected, account too new. My EXP is currently 695. This seems like a complete loose-loose situation. I don't even use this card, the balance sits at zero...it's worthless to me. At the same time, I've got many other cards with CL's of $5,000, $9000, $7,500, etc. and then there is this one "toy" card with a $300 limit, seems like it will screw me up on future initial credit lines. What should I do? Just leave it there and hope they raise my credit at sometime in the future? Or should I close it, insuring that this embarassing $300 limit card stays on my report for the next 10 years...?? Will it still affect my initial credit lines if it is reported as closed? Or does anyone have a secret for getting Household to wake up and reconsider your limit? I'd happily sacrifice a hard inquiry to get this card up where it ought to be..
Hi, Mega. Sorry to hear how stingy Household is being with your account. If it were me, I'd close the account and be done with it. I think it would be better to have it on your report for 10 years as opposed to 20 if you don't close it soon. LOL I don't think they will upgrade it to a prime card. When you start subprime with most companies, that is how they will always view you. You have great credit limits (congrats) so the $300 is basically an insult at this point of your credit journey. Good luck with your decision!
