topic Re: credit limit reduced in General Credit Topics

credit limit reduced

Anonymous — Wed, 15 Apr 2009 04:18:26 GMT

hi. I have alot of questions and alot of work to do to repair my credit rating. I'l keep it simple and start with my latest credit trauma! Arrrrgh!

Went online to pay my PayPal Buyer Credit account monthly statement and since my last visit(about 2 weeks ago), they have dropped my credit limit from 300.00 to 100.00.

I always pay this account off promptly, and haven't paid ANYTHING late for the past couple of years. any idea why this would happen? thanks for any help you can provide.

Kudos!

Re: credit limit reduced

Anonymous — Wed, 15 Apr 2009 04:24:41 GMT

Do you have high util on your other accounts?

Carried a balance long?

Re: credit limit reduced

Anonymous — Wed, 15 Apr 2009 04:40:15 GMT

uh-oh... looking at the list of abbreviations, not sure what "Utilization of debt to credit line" means. The account is fairly new, I've had the PayPal account for about 4-5 yrs, but the Buyer Credit acct is only about 9 months. I usually pay off the entire balance every month.

Message Edited by FollowDaMoney on 04-14-2009 09:40 PM

Re: credit limit reduced

fishbjc — Wed, 15 Apr 2009 15:28:10 GMT

Sounds like an account review. I'm waiting for my review, I know it's coming.

Re: credit limit reduced

Anonymous — Wed, 15 Apr 2009 19:49:18 GMT

Had the exact same thing happen with paypal, same limits to lol.

difference was I have carried a 34.00 balance to the plus for 6 months.

I called and canceled the card.

My credit is not perfect, but a 100.00 limit card is worthless.