Is it a good idea to payoff my credit card balance even if banks will cut available balance??

Lets say i owe $1700 on a card with $2000 limit. Should I payoff the balance even if bank would then cut limit to $200 or maybe even close the account? I am paying about $20 in finance charges.





Banks have been cutting limits by 90% on my other cards or even closing accout.





So should I just keep making min payments until credit situation gets better?|||Pay them off and save your $ . You really do not need a credit card.|||Pay it off and use a debit card.|||Just pay off the debt and move on with your life. Start spending wisely and only go shopping when you have extra money in your bank account. It's hard but that's the only way you can control your finance.