We hear so much about cl increases, has anyone ever had the reverse happened and gotten a cl decrease? My mother CL from sears gold mc was from 16, 000 to 6,000 not because of anything she did, but because she didnt use the card enough to warrent a very high CL. Has this ever happened to anyone else?
Happened to me. Chase decided about 2 weeks ago to lower my credit line with a platimum account to $800.
Re: Re: Greatly lowering CL Many years ago we had a JCPenny Card canceled on us.. because we didn't use it in more than I year. I phoned and they said, that they only have a certain amount they can "give out" in credit and if we weren't going to use our $500, they had to give it to someone that would. Cherie
Re: Re: Greatly lowering CL Sometimes it feels like you can't win. If you don't spend they cut your limits, if you do spend a lot they raise your interest rates.
Re: Re: Greatly lowering CL Please not this letter is in regards to your Chase credit card account referenced above. As a result of information obtained on your credit report, effective February 26, 2003 the line of credit on your Chase credit card account will change to $800 for the following reason(s): -The consumer credit report we received shows outstanding credit loan(s) on revolving account(s) that are too high. -The consumer credit report we received shows account(s) that have not been established for a sufficient length of time. However, if changes are made to your credit status in the future, we welcome the opportunity to review your account within six months for a credit line increase.
Re: Re: Greatly lowering CL Two years ago, after falling behind on Citi,(another DH layoff). When he got a job we worked a lump sum payment up front. Sent $2K to Citi to catch up + give $1500 room for anticipated travel expenses. The next month they cut our credit line to our balance. P'd me off, I could have used that 2K somewhere else.
Re: Re: Re: Greatly lowering CL I think I would make a change right away on that account..............CLOSED
