I have a JC Penney credit card that is close to a $0 balance. They recently raised my credit limit to $2500. All my credit cards are raising my balances, I'm not sure why. Anyways, the Penneys card has very high interest. Should I close it, or would that hurt my credit rating? Does it hurt my credit rating to have outrageous credit limits on the few cards I have, even if they don't carry a balance? I am married, but I am trying to establish credit in my own name and gain a little independence financially (no marriage problems I just want to do some things on my own since I am making a little bit of money) . Any help you can give me is appreciated. Thanks!