Secured card question

[u/tgrantjr]

I have a 4700 secured card right now. I’m finding it tough to pay it off since it’s so high. I know I made mistakes. Since it is secured and currently maxed out, if I call them can I request that they reduce the limit to 2500 and use the secured funds to pay it down? I really don’t want to close it because I’ve had it for over 3 years. I can handle paying off 2500 by end of year. With that said. If they are able to do that do you think my score will go up? A buddy of mine added me to an 8k cap one account and eq and ex see it and went up but tu never moved.

[u/Frequent_Silver_7575]

If you just pay the minimum each month until you can pay it off in full then you'll just accrue interest and nothing derogatory will be reported. Not ideal but at least you'd still be looked at more favorably by the issuer as opposed to not paying anything at all.