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@oracles wrote:
Sorry to hear what has happen to you OP, but unfortunately, now credit cards are reducing limits if they see that you don't use it. Due to today's times, companies are doing whatever they can to reduce risk. I would advise you not to close the account and weather the storm. After this time period, you may be able to restore your credit limit. Keep your balances low during this time, so you can keep util% low and fico score up.
Hope this helps, keep us updated
Thanks, oracles. I plan to do as you suggest & keep the account open. I'm not terribly upset by this because I have plenty of open credit - over $250K, of which I rarely use more than 3%. So I'm in no danger of bumping my head.
@smallfry wrote:
Jim that's really not that bad. They knocked me down from 13K to 2K.
Ouch! I'm sorry to hear that, smallfry. Are they trying to pick up some more money by zapping you with overlimit fees?
@Anonymous wrote:
@smallfry wrote:
Jim that's really not that bad. They knocked me down from 13K to 2K.Ouch! I'm sorry to hear that, smallfry. Are they trying to pick up some more money by zapping you with overlimit fees?
JIm I don't do late fees or overlimit fees. Juniper knocked my Sea Miles card down from 13-2 for not enough usage so since I did not need the line I closed their sorry behinds down.
@Red1Blue wrote:
Juni / Barclays is well know for this kind of thing. Did you apply for too many new cards or did you do some thing that changed your spending or payment pattern? It is one of the very finiky companies I have heard of about doing the CLD's and Card Cancellations.
We did apply for 5 new cards during the 2nd half of 2008. Those new cards added $60K to our available credit. Perhaps that was the trigger. We haven't changed our spending habits, though, & as far as payments are concerned, we always, always, always PIF. (The last time we carried a balance on any card was early in the 1st Reagan administration.)
Barclays still hasn't touched the $30K limit on our L.L. Bean Visa.
Didn't realize that Barclays/Juniper had a reputation for this kind of behavior. That's good to know. Thanks for that information.