Early last year was full of uncertainty as the Card Act was something new for both lenders and consumers. As a way to protect themselves, lenders quickly began looking for ways to cut costs which included: Interest rate hikes, closing unused accounts, and even reducing credit limits.
Now a year later as the waters are calm, lenders are opening the door again to regain lost customers by offering more incentives, etc. But, they still have a hint of a restrictive guard up as they were also blindsided by the Card Act. I've read some posts where long-standing customers were able to call and have their credit lines reinstated after they were reduced.
Moving forward, you should never have fear of the inevitable, but strength, courage, and knowledge to challenge and conquer it if and when it does occur.
These prior posters have given you a wealth of knowledge. I've been reading and taking their advice since late last year and now I don't feel alone out in the credit world. You have a FICO Family walking along with you, so you'll never have to type the words "scared" or "fear" in the title again.
