Reduced Credit Limits? Share Your Experience
About a month ago, I published an article over at Credit Addict about protecting yourself against reduced credit limits. Since that time, readers have left a smattering of comments lamenting that their credit limit has been reduced. We’ve been totally unaffected by this, so I’m curious as to how widespread this problem is. Interestingly, all of the commenters reporting a reduced credit limit have been dealing with American Express.
Have your credit limits been reduced?
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Modified on January 16th, 2010 - 255 Comments
Filed under: Credit Cards, Debt Reduction
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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August 27th, 2009 at 3:42 pm
When does it stop??? I can not believe there are no attorneys to help with a class action.
today I got a letter from Best Buy( HSBC BANK NEVADA)
One of my favorite cards as you get so much time interest free to pay off your purchase and then they start adding interest if you do not pay it off by the date of the plan.
Well happy days, they join the rest of the banks. I had $81.65 out of 1100 owed . Now my limit is a big $105!!!!
Down goes my credit score again. Its dropped 100 points since all this began last year and Fair Issac could not care less about re-evaluating how they determine the score.
This is one of my oldest cards as well.
I had one purchase I believe where I had any interest at all over the past 9 yrs.
Its really a point of no return except if your a national bank. Go Local people, cut your cards up and become independent of the system. That is the great divide that is occurring.
Fair Credit Act?????? I do not think so. Arbitration is the law and so what is fair credit???
How to start a class action? is there a class action for dummies book? lol lol we need to get together on this .
maybe we can do a link to this blog I would try to go to the law library and check the Nolos site.
anyone else up for trying to figure this out?
August 29th, 2009 at 8:17 am
I have had an account for over 15 years and had a large available balance. I hadn’t used the card in about 6 months and when I tried to write a balance transfer check that was sent to me ( to consolidate) my check was denied and my balance available was immediately reduced to $500! I have a credit score over 725 and perfect payment history! I’m baffled!
August 30th, 2009 at 10:16 am
I just got a letter from Chase saying;
“In a recent review of your account, we noticed that you have used only a limited amount of your credit line with us. We believe this may indicate that your current credit line is higher than required to meet your usage and/or spending needs. To better align your account with these needs, we have adjusted your credit line to $3,800.”
Until now, if I had needed the card it would have been for about $30,000.
Are they protecting themselves from real or imagined dangers?
August 31st, 2009 at 6:55 pm
When I first contributed to this post several months ago (regarding my personal experience with my Costco AMEX card), I was hoping to see these credit card companies succumb to justice, perhaps in the form of class action, pressure from retailers to extend credit (not reduce it), boycotts, etc. But as I have continued to follow this thread in the context of of our economic situation, I believe this problem will actually resolve itself. The credit card companies, by their actions, are actually doing us a favor by forcing us to reduce our debt and to live within our means. But what they are also doing (to their own demise) is reducing our dependence on creidt and, therefore, dependence on them as financial partners! I, like many of you, am in the process of radically reducing my consumer debt (as painful as that is) and consolidating debt where it makes sense, meaning that a good number of these debt-intolerant companies will no longer be business associates. And I don’t intend to resume business with any of them despite a (hopeful) turnaround in the economy and an almost-certain turnaround in my own financial picture. As far as I’m concerned, it’s not “later†to AMEX, B of A, and some of the other companies cited here, but an emphatic “good-bye!†Associates that are not willing to stand by me in the hard times are not welcome in the good times. So, again, “Good-bye!â€
August 31st, 2009 at 7:19 pm
If all this crap from AMEX and B of A makes you angry, here is another site that all of you might want to visit
review: http://www.creditaddict.com/ar.....increases/
There are a lot of disgruntled customers in this country who need to be heard.
FOLKS, DO NOT TAKE THESE ABUSES AND DO NOTHING!
THIS IS STILL AMERICA FOR GOD’S SAKE!
As you read these sites, take advantage of the links and contact addresses and let your voices be heard!!
August 31st, 2009 at 10:00 pm
I agree with every one who has posted on this site. I have been a loyal card member since 1979, 30 years of never missing a payment, never being late, having balances over 100K and paying them off, paying outrageous membership fees for my gold card and membership rewards program but still standing tall with Amex. I have had all my accounts with available balances reduced that directly and negatively impacted my credit scores and other opportunities to do business. I had my interest rates modified from fixed to variable with increases on the Gold, Optima and Blue Cash card. Interest rate increases alone will add over 340 dollars to my monthly payments. My wife and I had a balance on our rewards account over 600,000 points – today it is zero and I have spent them for fear they will come after that also. I am so ready to default on all the cards but I know that will send my credit scores to the bottom and impact the remaining good credit I have. I worked at this company for 10 years during the late 80’s and early 90’s and was brainwashed about how important the member and customer service is. These are different times and Amex has fallen into the crapper and they now care less about the card members that kept them going over the years. They are dirty players in the credit world; they have become a bank, used my tax dollars for a bailout and manipulated the legislation to their advantage. Just wait, prime is about to jump and Amex will ride a few more interest points out of us all.
I will stay tuned to this web site awaiting that one post that gets us all over the line and hits Amex where it hurts. Until then I will write to Kenny C, my corporate office and encourage them to drop the Amex corporate card program. Let a few news stations, and the Fed about Amex dishonesty especially in the testimony they gave before congress, hoping to get the answer, class action, intervention from some one some place.
I have not used my cards in three months, I have cut them up, and I will pay minimums until such time this matter is resolved. In the meantime American Express has lost a card member forever.
Ugghhhhhh …….
September 3rd, 2009 at 4:38 pm
Well, it’s not just Amex – Sears/Citi got me. Cardholder since 1974 (college), didn’t use it enough, I guess, so they totally cancelled it on me. When I called, they said “reapply”. I asked if my ‘member since xxxx” would be back dated. Nope.
Since this was my benchmark card, this is going to kill the part of my credit score that speaks to length of credit history (sigh). Good thing I really don’t need credit much.
September 3rd, 2009 at 10:59 pm
Even if you don’t use your cards, make sure you use them twice a year so they won’t get canceled for inactivity and hurt your credit score.
September 9th, 2009 at 4:00 pm
My Bloomingdales Visa was lowered by $1800 three months ago even though I have never defaulted. They said it was because I made 3 consecutive minimum payments. I found out today, when a charge was declined, that it has now been furthered lowered by $300. When I telephoned I was greeted with the statement that I am a very valuable customer (how cynical and hypocritical can Bloomingdale be!), then I was told the reason was due to internal and external reasons; whatever that means (twice as cynical and hypocritical on Bloomingdale’s part). I cannot wait until 2010 when the second part of the Credit Card Act will make them stop these practices.
September 29th, 2009 at 8:01 pm
@ mike
“They have taken my payment from a min. 2% to the 5% the LAW has allowed them to take payments to. This 5% was put in place by the corporate run government.
Chase gave me the option to continue with the $250.00 a mo. if I would except 7.99 % intrest rate. I agreed under duress. What could I do except to just stop paying????”
You may have figured out by now, but it seems to me that actually Chase offered you two options of their design but didn’t mention your existing legal right to outright reject the whole thing. You still had the opportunity to reject their two offers, reject their terms, close the account, and pay by the original terms including the 2% minimum payment.
If it makes you feel better, I fell for the same thing: believing that what chase was calling my option to not accept the new regime exhausted all the legal options in place for me to reject those terms.
One lesson learned by me: It pays to move a little slowly when responding to a complex thing that is presented by a “shark”.
October 19th, 2009 at 12:39 pm
Credit card bankers have reduced my limit on several of my cards and in some cases closed my account because
the credit bureaus says i have too many revolving accounts and the banks considered me a bad risk even though i paid on time and some extra money to boot.
Bank of America is one of them and this same bank got a huge stimulus bale out from the government yet it is cutting or stopping my credit card agreement whic is totally unfair.I just purchased a $31,000 car and am playing my part to help this deficit package yet i am being punished by these same bankers who’s CEO’S and corporate workers gave themselves huge bonusus. IS THIS FAIR to the CONSUMER,my answer is NO and people like myself are being ripped of and denied credit for helping support the ECONOMY.Totally Disgusted.
Charles Mc Caig.Hope someone from GM reads this letter as they were another company that was baled out.Shame on all of you Corporate Head Bangers.
November 4th, 2009 at 5:55 pm
Citibank lowered my credit limit to 2580.00 and my balance was 2522.00. I always pay on time and I always pay over the minimum. The interest rate is pretty good but since this will lower my FICO score, I expect that they will soon send me a notice about raising my interest rates. I am definately going to file complaints.
November 30th, 2009 at 8:19 pm
I’ve always paid well over the minimum and always on time. My credit score was 750 (i’m 23) but today I received a letter from chase stating they were reducing my credit limit from 7500 to 3500. I just look forward to the day i have my debt paid off and I can kiss my cards goodbye
December 5th, 2009 at 1:02 pm
Well, I wrote recently about how my citicard credit limit was cut in half which was just a smidge above what I owe. After 3 days of phone calls and letters written to my senators and the senate banking committee, citi agreed to restore my credit limit. Then a week later I get a letter saying congratulations, your credit limit has been restored. I get another letter on the same day saying that my Citi interest rate has been raised from 8% to 33%!!!! I get a letter from Chase saying that my interest rate is being increased from 10% to 29%. My balance is 2700.00. I have never been late, I always pay way over the minimum. So I surrendered! I am done! I have lived without credit for over a year and I don’t need them anymore. My credit score, once high is probably in the toilet and I don’t care! I opt’d out of all cards and I am so relieved! I will borrow from family if I need to. Of course, I get a followup letter from Chase saying that they could find me new terms but the hell with them and the horse they rode in on.
December 5th, 2009 at 1:12 pm
One more thing. I have a savings account tied to a Debit card with Chase which I am going to close and move to a local credit union. I read that Chase earns 70% of its profit from FEEs related to debit cards. If anyone wants to be further enlightened, log on to Frontline and watch their episode of Card Games! Also, I told my dentist that I will no longer be using credit cards to pay off my dental bills (13K in one year which is how I got here). After a few calls, he agreed and said that his business credit card limit was reduced and they raised his interest rates! When we all start leaving the big banks, maybe they will understand.
December 5th, 2009 at 2:31 pm
I recently had my interest rate increased to 24.99% on my Visa after years of never getting near my credit limit and always paying more than the the required payment. All I have to say is thank you to all of these banks and the smug people who represent you on your customer service lines. While I realize fault does not lie with the customer service reps, I’m not sure they understand the direct result of the practices of these banks, i.e. no customers=no jobs!
I am now more determined than ever to pay off this card! Again, thank you!
As Deborah W noted, I am also trying NOT to use my debit card either, cash is the answer!
December 17th, 2009 at 12:37 am
After being a customer for 32 years with no late payments ever to anyone, a credit score of 738 and a $160,000 family income, Sears Mastercard lowered my credit limit from $13,300 to $700.
December 17th, 2009 at 12:24 pm
Rick
Sears mastercard did the same to me about 6 months ago. reduced my limit from 4000$ to 3500$. I paid them off and don’t use the card anymore. Interest is too high anyways. I kept the account open though to keep utiliztion ratio good. I will never shop at a sears/kmart store again as my personal boycott until limit is restored back to 4000$. Same as you – credit score 700/no missed or late payments/loyal customer. Chase also did this to me last week. Paid off two cards with 5000$ limits. Limits were dropped on both to 900$. These I did close only because I hate Chase with a passion.
December 17th, 2009 at 1:15 pm
My Citi card has been dropped down twice below the balance owed. This of course creates a snowball effect, lowing my credit score each time, adding higher interest rates and over limit fees.
December 18th, 2009 at 9:39 am
Unless you are trying to purchase something very large in the future (home, car) and you need a good FICO score,I suggest that we all opt out of the credit cards and try to negotiate a lower interest at that time. I feel so good about my decision but I know that it won’t fit everyone’s needs. My son-in-law and daughter are going to film myself and a bunch of friends for a “BURN YOUR CREDIT CARD” party and we will post it on youtube. In addition, I am going to start a facebook page for burning credit cards unless someone has already started one. In that case, I will join their page. Then, I am going to send my film to the appropriate banks. Christmas has been wonderful without credit cards by the way. I have shopped in some stores but we have also shopped on Craig’s list and in used book stores. I still have a large balance on my cards that I have to pay back but I am on a plan.
January 2nd, 2010 at 6:28 pm
Chase took away $20,000 of my husbands credit line and has now made his credit score that was impeccible lower. They are so unfair. They canceled a balance transfer after he called to see if it was a valid offer, and then it made all of his checks bounce.
January 2nd, 2010 at 6:29 pm
CHASE SUCKS
January 2nd, 2010 at 7:41 pm
I have now transferred my savings from Chase to a local bank. Only when we truly revolt will this end. Chase has already sent me a letter telling me that they can offer better terms rather than opting out. Too late, Chase. The FICO score makes us slaves. Reject your credit card increases if you can. I can do this,my young daughter can not (Yet). But if someone that makes my income can reject credit cards, then more people can.
January 2nd, 2010 at 10:46 pm
Everyone should go to a local bank The rates may not be great but the service is excellent. I have left Chase / Wamu and so has my son.
When we walk into Circle Bank they know us by name!
January 10th, 2010 at 1:59 pm
I took advantage of BOA offer on my online BOA page for balance transfer at special low rate [.99%] and they use my response to their offer to slash my credit line by 75%. Months later they send me the same offer in a letter with my name on it and my then available credit line written on the letter and when I respond to their solicitation {they made the offer at least 3 times} they tell me they are canceling my credit card completely and I know they new my credit score {which was still good} before making the offer as I have credit monitoring and now for the second time BOA continues to damage my credit just because I attempt to take their offers!!! WHY!!!! AND CAN I SUE THEM!
January 16th, 2010 at 4:01 pm
All of my credit card holders have either increased my APR or reduced my credit limit drastically and in one case completely stopped it.I am a good payer always on time and pay more than the minimum payment required but this did not make any difference to the credit card companies.They gave me the option to opt out of the card in which case they close my card out and this goes against my credit score which is totally unfair as it has ruined my credit score which used to be over 800 but is now barely over 700 and can’t apply for any increases as they have already cut my credit limit.the CEO’s and staff get huge annual bonuse every year and these are companies that have been baled out by the government us our tax dollars It is just not fair and something should be done about it.Disgusted
Charles Mc Caig.
January 16th, 2010 at 4:47 pm
My main CC co Citi gave me an opt out option. I have been with them 15 yrs, paid on time all the time. The 1st took my rate from 13 then to 15 and now 20%. 20% is an rate that people without credit have paid in the past. These dirty bastards have made and r making a fortune on me and others. Now thru their mismanagement we have to pay.
How is it that r gov gave them money for 1% and the get away with RAISING R rate to the moon.
Why didn’t OUR gov give us the money at 1% then we could pay them off.
This government is a criminal organization in collusion with the corporations. They pretend to before us. It’s nothing but a show.
By the way I wrote my reps about this. Nothing happened. I have decided to opt out.
January 16th, 2010 at 10:57 pm
I sincerely hope tha all the ceos burn in hell for what they have done to me and the same goes for all of the polititicians whom we elected but who in turn turned their back on us because they don’t have to worry about retirement as they will all be given an exhorbitant retiree pension with full medical benifits
and we get kicked in the ass.Screw all of them.I am a retiree as my wife is and live on a fixed income and we
did not get a cost of living raise this year because they said that there has been no inflation so we do not qualify.They must be living on another planet because everything went up last year 2009 food,gas,rents,insurance just to mention a few so how can the government condone this,i am totally baffled.
I am totally disgusted with it all.Charles Mc Caig.
We also live in the Highest Taxed State in the Union
New York State.
January 28th, 2010 at 10:33 pm
I too had my credit limit reduced VISA. I first started with BOA at $1000 and a year later, they offer to increase my limit to $7000. I’m about a five year customer. I haven’t use my credit cards for about a year now with 0 balance on them. After reading this blog, I sign onto my BOA account and found that my credit limit is at $1000. This doesn’t affect me much but I could use that extra $6000 in case something goes wrong.
February 22nd, 2010 at 5:30 pm
why these credit cards are reducing the credit limit, they are not even telling the customers. I was going to charge a some thing on capitalone card and got emabarrased.. I have the credit of 6,000 and when i tried to charge something there was no money..I had a good credit. what is going on
February 23rd, 2010 at 6:46 pm
We were are told Change was coming…Here it is folks just the first little part of your freedoms vanishing.If you cant see it, I feel sorry for you. Credit Card Law went into effect yesterday. Bank informed me Today that the Govt. ordered banks to revise all credit scores and adjust credit limits accordingly. Because they get Govt. Money….Which is really our Money!..Bunch of crooks!
March 29th, 2010 at 7:53 pm
American Exp is out of their minds and hurting everyone and my credit score. I have had a regular Platinum and Optima card since 1979 that is 30 years. I have never been late with a payment. Last Year I got a letter stating my limit on my Optima account was being reduced from 19K to 15K as my mortgage sevicing company was having a lot of foreclosures. Las November I paid them the $13K I owed them and just this month I received a notice my limit was reduced to $2500!!!!!!! I am so upset and now they have reported me to the credit bureau for being over my limit. The charges I made were before I received the letter decreasing my limit. This is not fair and I am willing to do anything to get them in trouble and looking for suggestions. I have never ever been late with them over 30 years on either card and now they are hurting my credit…….
March 29th, 2010 at 9:11 pm
Discover has raised my credit limit from 14,000 to 16,000 while aLSO raising my purchase rate to 19 point something until I complained and they then dropped it to 17.24% from 14.99 percent. Chase has left my limits and my interest rates the same. I have a Citibank (Sears) card but I’m not sure what if anything has happened to that one. I don’t have Amex.
April 29th, 2010 at 1:46 pm
What can we do???? I’ve read all the emails. Chase got me …. card holder since 1992/no late payments…Limit $25,000 dropped to $2,500. This was done on 4/22 got the letter yesterday. But I found out about it on 4/23 while making an online payment. I’m thinking about getting another card (not Chase) before my credit score drops…. Has anyone spoken with an attorney? There must be something we can do. Someone please respond!!! HELP!!! I want them to feel what I’m feeling.
May 9th, 2010 at 12:32 pm
One common denominator of nearly all the postings on this thread is that each writer, apparently lacking available savings (liquid cash), had been adversely impacted by a bank or bank holding company’s decision to slash their credit limit on a consumer account.
I wonder if this spate of credit limit slashings, which on their surface seem hardly likely to benefit issuing banks, arose as part of some backroom deal or secret instruction that was part of the federal bank bailout, or perhaps as a membership requirement for banks to keep feeding at the Fed discount window?
It seems to make little sense for companies like AMEX to willingly and wilfully eviscerate their bottom lines and throw away years of hard-earned goodwill from longstanding, excellent customers merely to spruce up contingent items on their balance sheets.
Rather, I wonder if the real reason was part of a larger policy decision to forcibly boost personal savings among the middle class by eliminating the huge unused lines of credit that have come to replace the savings cushions of ordinary Americans.
It is indeed shocking that the beneficiaries of so much unsecured credit lack the personal savings resources that would prevent them from being adversely impacted by a reduced credit limit on a revolving account.
It also begs the question of what business does a responsible bank have issuing $10,000 to $50,000 lines of credit to persons who can’t seem to keep a $20,000 cushion of funds in their checking accounts?!
May 10th, 2010 at 2:11 pm
@AE Anderson:
That would all make sense if the banks had not been doing this fully a year before all the bailout stuff began. They started with “riskier” customers, then moved on to everyone else.
Yeah hindsight is 20/20, don’t carry a balance, blah blah, but the fact is that nearly 50% of credit card holders carry a balance. Not everyone has the luxury of keeping $20K on hand for such circumstances, this is the real world afterall.
May 12th, 2010 at 4:00 pm
My problem with this whole issue of reducing one’s credit limit is the affect it has on your credit score. If you have a balance (maybe even if you don’t) a reduce in available credit will hurt your credit score. Also, if you had that credit card for some time, you do not want to cancel because that will also affect your credit score.
May 12th, 2010 at 4:25 pm
HI, been awhile. Just to let non believers see how much the actions can affect you. credit score was 740, Am Exp maxed me out with City, Best Buy( HSBC), Discover, B of A and Wamu/ Chase to follow.
MY loan never went through for 1st time buyer
Fair Issac said they were not refiguring our scores because the CC maxed us out Maxed out is maxed out
so.. My present score at Credit Karma- 598
I tried to add comments to my report but even with certified letter receipts the banks prevailed as to who closed the accounts. I did.
Fair Issac is as much a part of this as the card comp and banks!!!!!
I have realized that congress could care less nor any part of the govt nor the watchdog groups.
why has this not happened to an atty who can do a law suit? its insane. better off living off the grid if you can. there is more to this bull then we see!
May 12th, 2010 at 4:55 pm
I hate what happened to Annie. There should be a way to address this. But what???? I agree that we might be better off living off the grid. We are the ones that are paying our bills because we care about our credit. Is this smart??? I wonder. The credit card companies and others are making it very difficult for the ones who want to do the “right” thing and pay their bills. Did anyone really look at what was happening to you Annie? It it not fair. Still don’t know what to do. Can you sue the company AM EXP because you could not get your house? Crazy…..
May 12th, 2010 at 5:12 pm
You really want to know why no one is doing anything about this:
http://www.huffingtonpost.com/.....73938.html
All the big banks have former congressional staffers, dozens of them, to lobby washington against us. How do you fight the good old boy network?
June 17th, 2010 at 9:06 pm
I am glad I found this site, so I too can just vent for a second.
I am an Amex through CITIBANK, and today, I receive and email saying that my limit just went from 17,500 to 6730. Random credit limit; which of course leaves me with ~113 available to spend.
Well, I am looking at this from a positive perspective: it will force me to pay it off and not incur deeper debt. So, for that I am happy.
However, just to point out; my FICOs are in the mid 700s & with CITI, I have always paid on time, and paid more than is due.
But, the credit customer service says that now when they review accounts annually, they look at ALL of your outstanding debt. Oh well, such is life.
The one last thing that drives me INSANE is how all customer service reps are programmed to always point out; “well, due to the nature of the economy”….
CITIBANK can go and collapse for all I care.
grrrr.
June 18th, 2010 at 5:12 pm
here is a good batch of rubbish from the ever expanding Fair Issac Corporation located in my county- Marin , California their research on decreased limits and the effects on FICO
http://www.fico.com/en/Company.....dings.aspx
I am going to court in 1 yr ( May 2011) can not wait to tell the judge how they changed the terms of the contract and it became a domino effect. credit score has decreased at least 70 point. never had a late payment until Citibank would not make a payment plan and told me my income was too low for one.
we shall see who prevails. I noticed on the web that the credit card company’s do not show for the case management and get fined $250.
June 18th, 2010 at 5:26 pm
Annie …. May 2011 for the change in your limit? I would like to find out how if possible to fight this. Still can’t believe they can do it and act like nothing is wrong.
June 18th, 2010 at 6:27 pm
Hi Ruby, I took a chance when they reduced my limits for no reason. I asked them for a payment plan as I wanted to close the account but could not pay it off all at once. They told me my income did not fit their payment plans. So I closed it since the decrease in limit already had dropped my credit score. It started with Am Ex, then Discover , HSBC ( best Buy) and Citibank. HSBC was the last one to do it and I was left with $80 of which I owed $60 as my payment to finish a payment schedule w.o interest. None of these companys had any reason. I never had any late payments. My score back then was 740 and I was trying to buy a home and within 3 months was no longer able to qualify for a loan.
I now have to move and have looked for 4 months. I do not have a high enough credit score. Its all really pissed me off. I called Fair Issac and they said they were not going to reconsider their scoring None of them really give a hoot. so we shall see what happens.
August 17th, 2010 at 9:34 am
We had over 40,000 in Home Depot credit, we would use it, as we are a small contracting business and pay it right away. They canceled our business accounts. Than our personal accounts. Our credit line on our First National bank was 6,000, always paid above min. monthly charges, never reached the credit line. Just went to make a purchase and it seems they have cut our credit to 2,000. I do not recall receiving any notification about them reducing our credit. NO ONE SAID A WORD TO ME WHEN I SPOKE TO AN AGENT to make a payment three days ago. They can all go %@*& in their hats, and keep their cards. They are killing us small business owners who use credit, and pay on time, in this country. God help us all.
August 17th, 2010 at 11:46 am
Does anyone know how to fight this????
September 7th, 2010 at 12:44 pm
Wells Fargo cut my credit line today from $10,300 to $1,300 leaving me with $99 available credit. I went from owing 10% of my line to 90% in one day. No notification at all.
September 7th, 2010 at 12:48 pm
Jordan, You’ll probably get the letter today. They make the change and then let you know. I believe they are supposed to give you a 45 day notice (if anyone knows about this, please comment). It’s a mess and still don’t know how to fight this.
September 7th, 2010 at 1:08 pm
Well Ruby, I guess I will see. I just wanted to add that mine was a VISA. I used this card during college to pay for gas, bills, and sometimes tuition, but paid over the minimum every month. I graduated a month ago and immediately started using 90% of my paychecks to pay off my balance. I had no idea they would say, hey thanks for paying off your balance real fast and we’re going to go ahead and decrease your line for you.
September 7th, 2010 at 1:25 pm
No loyality. My Chase was reduced from 25,000 to 2500. Had the card forever and paid more than the minimum. I now look at my debtors and debts as just business. If something comes along better, I drop them just as I was dropped. Still very bitter.