A reader asks…

I recently opened a new credit card and noticed that my fico score plumetted 50 points after doing so. How long will it take for credit score to get over the fact that I opened a new account and regain those 50 points?

A reader asks…

I have only have one revolving credit card, and I have a very high credit score. Because of this overall score they subsequently increase my credit line, even though I don’t ask for or use this revolving line of credit. Question? I have been told if you ask for a credit line decrease they lower your overall credit score? Why? What can you do to minimize a lowered credit score?

A reader asks…

Have a few credit cards with high rates that we no longer use. Is there anyway to get rid of a $10,000 credit limit on a card that has a zero balance without killing our ‘excellent’ credit scores?
We would like to increase the limit on our lower interest rate credit cards, but have not been allowed to due to outstanding limits on existing credit cards.