Apparently Citizens had made the decision to review all their business credit card accounts credit limits. I discovered this when a transaction was declined and that has never happened before. Not understanding why, I logged into my account and saw my credit limit went from $20K to $1K.
Outraged as no communication has been issued about this, I call and got transferred to business lending (866-248-4936) and am told "oh yes, we have been discussing this in meetings. The bank decided to review all the credits limits of business customers and made the decision to lower credit limits based on general small business instability in the market." I explained that according to Experian, you've been soft pulling my report regularly and please explain to me how a FICO of 843 equates to "financial instability?" Stumped, the rep tells me, I understand, unfortunately you are not the only cardholder this has happened to...so I asked has this same huge decrease happend to others...she stated yes. Is there any recourse...No, I'm sorry there is not.
I said okay great...please shut my account down. A $1000 business credit card is useless to me
If you have this account, I suggest you log in if you haven't lately to see if you've been affected.
WOW! Got'ta love communication. That really stinks (no doubt it is there gold and money but ...?).
Thinking about what happened here ... why are we not hearing more of the same on the personal consumer side? There has been reporting about the setting of very large debt to the personal side of banking. Yet, not much in credit line reductions and/or account closures.
Going back pre-1990's you would not have seen the large credit lines of today. It seemed financials were more conservative and in truth had less technology to guide them. With that being said, surprised US Bank and JP Morgan Chase who have been known as conservative, have not pulled rugs out from under consumers? Or, is the hammer going to drop?
Inquiring mind wants to know? 
they closed my checking and ate my DD for a month before I got a check for being OOS on their checking bonus
not a fan of them and glad to see you nuke their card
sorry about the CLD
@TrapLine wrote:WOW! Got'ta love communication. That really stinks (no doubt it is there gold and money but ...?).
Thinking about what happened here ... why are we not hearing more of the same on the personal consumer side? There has been reporting about the setting of very large debt to the personal side of banking. Yet, not much in credit line reductions and/or account closures.
Going back pre-1990's you would not have seen the large credit lines of today. It seemed financials were more conservative and in truth had less technology to guide them. With that being said, surprised US Bank and JP Morgan Chase who have been known as conservative, have not pulled rugs out from under consumers? Or, is the hammer going to drop?
Inquiring mind wants to know?
If I wasn't obligated through a PG on this account, I could see their reasoning as they made it sound like this was a general swath of customers, not individuals and as mentioned, they've been SP'ing my personal EXP for quite a while so it's not like their seeing something when my F8/F9 have been relatively the same (give or take 10-15 points) since I opened the account years ago.
Just looked. My 37,500 limit appears untouched.
