Comments on: Can my credit card company unilaterally lower my Credit limit at its discretion? How likely is this? http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/ Free Consumer Lending Resource Fri, 18 May 2012 10:18:51 +0000 http://wordpress.org/?v=2.7 hourly 1 By: llapczynski http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/comment-page-1/#comment-536 llapczynski Thu, 12 Feb 2009 20:10:03 +0000 http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/427/#comment-536 Look for it to get lowered at any time, esp, if it's a Citibank card-they are in deep trouble, so they are looking at all customers and want to lower their risk as much as possible. CC company's look at your overall debt, payment history with them and other cc you may have, how long have you been a customer etc. So don't be surprised if it gets lowered, they can also raise interest rates too, and fees so keep an eye out for the little mailers that come in small white envelopes-easy to throw away as junk mail Look for it to get lowered at any time, esp, if it’s a Citibank card-they are in deep trouble, so they are looking at all customers and want to lower their risk as much as possible. CC company’s look at your overall debt, payment history with them and other cc you may have, how long have you been a customer etc. So don’t be surprised if it gets lowered, they can also raise interest rates too, and fees so keep an eye out for the little mailers that come in small white envelopes-easy to throw away as junk mail

]]> By: tinker46139 http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/comment-page-1/#comment-535 tinker46139 Wed, 11 Feb 2009 04:09:15 +0000 http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/427/#comment-535 Mine was also lowered, the reason was that I don't do that much charging. the greatest charge was for a new computer, which I paid off at the end of the month. My history of charging as very, very, low, therefore a cut in my credit limit. I don't use the card enough to warrant a high credit limit. Mine was also lowered, the reason was that I don’t do that much charging. the greatest charge was for a new computer, which I paid off at the end of the month.
My history of charging as very, very, low, therefore a cut in my credit limit. I don’t use the card enough to warrant a high credit limit.

]]> By: Judy http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/comment-page-1/#comment-534 Judy Sat, 07 Feb 2009 17:44:25 +0000 http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/427/#comment-534 I read something funny in Money magazine. If you are a good customer that pays their bills in full each month, they are actually raising your credit lines. Their hopes are that you will spend more and eventually trap yourself into paying interest. / I read something funny in Money magazine.

If you are a good customer that pays their bills in full each month, they are actually raising your credit lines.
Their hopes are that you will spend more and eventually trap yourself into paying interest.
/

]]> By: Kay http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/comment-page-1/#comment-533 Kay Wed, 04 Feb 2009 11:02:05 +0000 http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/427/#comment-533 A credit card company would only lower the credit limit of cardholders when cardholders consistently delay payments and frequently defaul on the account. In your case, it's very unlikely that your card limit will be lowered. However, credit card companies can unilaterally lower cardholders' credit limit if they so choose/decide. A credit card company would only lower the credit limit of cardholders when cardholders consistently delay payments and frequently defaul on the account. In your case, it’s very unlikely that your card limit will be lowered. However, credit card companies can unilaterally lower cardholders’ credit limit if they so choose/decide.

]]> By: bud68 http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/comment-page-1/#comment-532 bud68 Mon, 02 Feb 2009 15:11:22 +0000 http://lendingproguide.com/can-my-credit-card-company-unilaterally-lower-my-credit-limit-at-its-discretion-how-likely-is-this/427/#comment-532 Yes, they can and have been. Having a high actual debt to total available credit ratio is one red flag. Making only minimum payments is another. Yes, they can and have been. Having a high actual debt to total available credit ratio is one red flag. Making only minimum payments is another.

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