Your Credit Limit Has Been Lowered – Now What?
Posted by ryan on 27/03/09 at 01.44pm
You have always thought of yourself as a good customer as far as your credit is concerned. You have made your payments on time and are not close to your credit card limit at all. Unfortunately, this may not be enough to keep your credit limits at the level you have previously had. The credit card companies are responding to the fact that some of their customers are defaulting on their debts by re-evaluating the creditworthiness of their other customers.
In a nutshell, even though you have done all the right things, you may open your credit card statement to find that your limit has been lowered. It’s important to understand that you still have some choices in this situation. You don’t have to just roll over and accept the credit card company’s decision. Here are some suggestions: (more…)
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