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.