Originally Posted by
shimps1
So how long should someone wait to close an account, after lowering the credit limit?
I've usually waited at least a week (after verifying that the new lower credit limit was showing online).
But that does not mean you can apply two days after and have a good chance of being approved with a decent credit limit on the new card. It's probably better to wait a month or more between lowering credit limit and applying for the next card.