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Catch22 wrote:
FIA has again DL on accounts that have never been late, never overlimit, and not used. Is this a racket or what?
Did you call FIA and ask why the limit was reduced? Before the recent rash of CLDs, a credit card company in many cases only lowered the CL to get the customer to call the company and ask why the limit was reduced. That was how credit card companies would update dormant or seldom used accounts.
Frequently the customer was asked what it would take to start using the card more frequently. By the end of the call the consumer in many cases had a CL higher than before and lower interest rates. Occasionally 0% offers were made.
Especially in the current tight credit environment I would expect that the best way for a card company to get the customer to call and answer some questions is to reduce the CCL.
I know that CLDs was a favorite trick that MBNA used to get people to call, so that MBNA could try to motivate the customer to use the cards more.
MBNA is now FIA.
@Anonymous wrote:
Basically they're saying they no longer want to do business with u. If I were u I would just close the account. They want u to carry they're card but don't want u to use it. This has not happened to me but I'm thinking about canceling all of my cards but 3.
Which three? It had better be the right three!
Bad plan.
@Catch22 wrote:
I have SD most of my cards for this year and balances are way down, yet, FIA has again DL on accounts that have never been late, never overlimit, and not used. By doing so, my utilization increases becuse they drop it within $500.00 open Is this a racket or what? I am ready to cut every one of them up and send them back to them.
There rarely isn't a reason. In this case either a) they want to know if you are still alive, b) they are dogging you for non-use, or c) some other reason you don't know yet and might know when you get the letter. Disuse is never a good plan for retaining a good relationship with credit grantors!