03-12-2009 09:24 AM
Anyone else have this issue?
Thus far my cards that have effected:
B of A
Waiting for more to drop... I hate the credit crunch... it makes rebuilding SOOOO much harder!
03-12-2009 09:34 AM
Unfortantely, this is a very common occurence in todays economy. Most people who think that they couldn't be touched are getting hit hard. I've heard of credit limits being dropped from $20,000 to $500. Now that is painful. But my goal is to get all my balances down to $0, then it wouldn't affect me at all what they take my limits too.
On a side note, very nice improvement on the scores in the last year.
HSBC is the worst one for me, cut my limit to $300. However I don't use the card so if they will pretend to give me a limit, I will pretend to use their card.
03-12-2009 09:39 AM
Thanks for the Kudos... It's been a LOT of work (letters, calls, more letter and MORE calls... but it's getting there... ) but very worthwhile...
I pay my CC's off each month (or close to it) so I keep my Util at 0-6%, but it is just frustrating to have worked so hard to get a decent credit line only to be cut at the point I am a responsible adult... UGGGHHHHH...
Oh well, I will just call and see if they will put them back... fingers crossed!
03-12-2009 09:41 AM
Crown Jewelers has dropped everyones CL to $500 if you email them and tell them to change it, they will just say it was a mistake and change it back to what it was.
EXTRA $2k for util......... not a bad email to send.
03-12-2009 09:43 AM
I am on like donkey kong with my emails/calls today...
03-12-2009 09:47 AM
They CLOSED my B of A Card... Long story, but I inturn closed all of my B of A checking/savings accounts... No more money from me!
Chase dropped my credit line from $2000 to $500, though I am going to call the backdoor number to get it back up... Then I am going to see if I can combine it with my WaMu card... fingers crossed!
Crown dropped it to $500, but I am sending an email...
I am just worried that this is going to continue happening!!!
03-12-2009 10:40 AM
03-12-2009 12:24 PM
The sad thing is that companies will say it is your credit report even if it isn't. They really don't need a reason to cut your limit, so I'm not sure why they lie. I would say with alot of companies you probably know more than their entry level CSR's when it comes to this. Most of them follow a script and really have no idea what you are talking about.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.