A July 2008 report from Javelin Strategy & Research found that 62 percent of credit card issuers are lowering credit limits to existing cardholders. Only 8 percent are increasing lines of credit.
I've been so nervous about this that I check my accounts frequently. I pay 2 or 3 times a month, don't revolve, have no mortgage, and I surely don't live in FL or CA, but still...
In the last two months I recieved an unrequested line increase of $4K on my Amex Blue card. I never come close to my limit and don't understand why the increase with all the info posted on this site. Are they taking from some and trying to offset the deduction by moving that potential to others?
The line is Amex is going to a near 1 to 1 ration on CL increases to decreases. I assume their loyal customers who have spotless accounts will continue to see the love. Any wrong move seems to draw their attention though, especially for newer "members."
I'm just flying under the radar, barely skimming the treetops. So far, it's working, and they seem to like me. But I think I'm mostly lucky with my zip code.
* 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
If I get me CL lowered on my Visa card that might tempt me to apply for another. I dont want to apply thought since I want no new credit till all my INQs fall off by next summer.
EQ 817, EX 815, TU 813 (Updated 1/5/18: TU 843
