http://www.totalnoid.com/2008/10/10/credit-card-companies-cutting-credit-limits/ Random Noid Musings Sat, 28 Jan 2012 03:38:53 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.totalnoid.com/2008/10/10/credit-card-companies-cutting-credit-limits/comment-page-1/#comment-3462 rtr Thu, 30 Oct 2008 23:03:19 +0000 http://www.totalnoid.com/?p=1193#comment-3462 I had 2 amex cards, both for 15K credit. Both got reduced to $500. This is simply ridiculous. I had 2 amex cards, both for 15K credit. Both got reduced to $500. This is simply ridiculous.

]]> http://www.totalnoid.com/2008/10/10/credit-card-companies-cutting-credit-limits/comment-page-1/#comment-3427 mark Sun, 26 Oct 2008 05:00:05 +0000 http://www.totalnoid.com/?p=1193#comment-3427 My limits was lowered from 25,000 to $500 as to tell me that do not use this card, or you will go over your limit every month. despite the fact that for past 6 years, I' ve been a faithful customer with them, even set up a direct payment with them. F**K AE, I'll go for Chase. My limits was lowered from 25,000 to $500 as to tell me that do not use this card, or you will go over your limit every month. despite the fact that for past 6 years, I’ ve been a faithful customer with them, even set up a direct payment with them.
F**K AE, I’ll go for Chase.

]]> http://www.totalnoid.com/2008/10/10/credit-card-companies-cutting-credit-limits/comment-page-1/#comment-3328 Steve Sat, 11 Oct 2008 04:31:38 +0000 http://www.totalnoid.com/?p=1193#comment-3328 Hello, it has happened to me. I am happy to find your site. I can atleast see I am not alone. My main concern is my credit. This action of lowering my credit to 100.00 above my balance affects my credit score. From what I have found this can lower my score between 3-12 points. This also affects my other cards since my debt to credit rate is now at 99% instead of 40%. How do they get away with this. If you follow all of the rules you should not be penalized. If every card I have did this my credit score could drop 200+ points. With that said what would the point of paying them even be? What recourse do we have as consumers. Hello, it has happened to me. I am happy to find your site. I can atleast see I am not alone. My main concern is my credit. This action of lowering my credit to 100.00 above my balance affects my credit score. From what I have found this can lower my score between 3-12 points. This also affects my other cards since my debt to credit rate is now at 99% instead of 40%. How do they get away with this. If you follow all of the rules you should not be penalized. If every card I have did this my credit score could drop 200+ points. With that said what would the point of paying them even be? What recourse do we have as consumers.

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