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Credit Line Decrease

Established Member

Credit Line Decrease

I too have had 3 CCs decrease my credit lines.  Not lates, I never make minimum payments and they left approximately $500 open above the balance. Is this all a sham?  One account is 13 years old.  How does one respond to this?  I need to travel at the end of this year, but I am about to get mad enoung to close them all.  Any suggestions? As a result, my score has dropped 13 points.  This all happened in the last month.
Message 1 of 5
4 REPLIES
Frequent Contributor

Re: Credit Line Decrease

I started a post about this a few weeks ago b/c Target Visa did that to me. I did cose it, but I figured they were chasing my balance and they were goign to close it anyway. I got a card with a 25k limit the same week (from NFCU) so it wasn't too much of an impact since they'd lowered my limit from 3500 to 900 saying I had to much debt.

IT irritated me b/c I had just paid off a good portion of my debt which I'd had the whole time I'd had the Target card, including their card and I'd run a lot of money through it and PIF'd the prior two months.


Are you sure nothings changed on your credit report? Did any of them give you a reason?
FICO 6/2/08 , EX 754, 5/2 TU 720 EQ 722
Message 2 of 5
Regular Contributor

Re: Credit Line Decrease

Don't let your emotions make you close a old positive TL. If they have no AF it costs you nothing to sockdrawer them and continue racking up longer positive TL's.

I would however shop around for a better product perhaps a CU would serve you better. Creditors are very twitchy in this economic environment.

Think Godfather it's business not personal. Oh yeah give them a call be polite can get better results with sugar then vinegar. Could be a minor error on their end.

Message Edited by shreco on 05-12-2008 09:15 PM
FICO TU 730 EQ 731 EX 706
Message 3 of 5
Moderator Emerita

Re: Credit Line Decrease

What else is going on with your reports? Util increase, new collection posted, etc.

I can see one card doing this for no explainable reason, but for three cards to do this, something's going on. You need to check your reports if you aren't aware of a significant change on a separate account.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 5
Highlighted
Senior Contributor

Re: Credit Line Decrease

Which cards CLD'd you, if you don't mind me asking?
Here we go again...
Message 5 of 5