Either they've determined you to fit within a certain criteria they want to reduce impact from moving forward, whether temporary or permanent, or they see a shift in the overall economic scenario where they simply want to part from potential risk. I've stated before, these lenders will pull, limit, or close accounts as they see fit, so adjust accordingly. Lessons were learned from the dot.com and Lehmans timeframes. There is something about your profile they're not liking (and many others), in my opinion, whether utilization, or how you pay the balance.
I'm an advocate of taking advantage of CC opportunity, and to abuse it responsibility to your full advantage.
Barclays backs Wyndham credit cards reward programs, one of many CC we participate with to accrue multiple weeks of free vacatons. Timing matters, as certain times per year or two, points adjust wildly. Today offers a pathetic 30k point value should you secure a CC. At the time P1 and P2 acquired Wyndham cards, we earned 80,000 points each, with a very simple 1k-3k cycle rotation each. Can be done in a month or less. This, results in a week long vacation (each) to lower to mid tier location, with free breakfast, and with sometimes, a jacuzzi tub and other amenities. The boon is often the location - as opposed to the stay as the event. Valuation, upwards of perhaps $2000 vacation value for next to nothing. However, as an extreme backup, 160,000 in points, exchanges into $600 in very useable gift cards. That is their rewards program, with options. You can't possibly lose on this type of exchange if timed correctly.
Here is the part that is specific for me. I hope it can translate to others as well.
I don't care the percentage any card ever offers, as I never intend to hold a balance unless to sacrafice pennies on a few dollar credit report. Additionally, if a $10k credit reduction matters, either you don't hold enough of an overall credit amount yet, or there is something in your profile that shows they don't like what they see, or lastly, in how you manage the debtload. It's not fair, it's the nonsense that banks are pushing today. They will limit your overall credit amounts. They are actively doing so as the economic scenario changes.
We're all here to learn. Some have arrived. Others or many are still working their way there. Many people are happy to share their stories and experiences. When you allow banks to dicate, one may not be there yet. Credit can be much like FU money in a different way. When you arrive, there is no lender that will matter because there are simply too many of them to matter. When you acquire enough of them, they are all interchangeable, usable, or disposable.
At the end of the day, finances are just numbers on a screen, or an account ledger. So make them dance.
$XXX,XXX in credit lines. First digit isn't a one or two.
4-5 weeks in free credit reward vacations, booked through 2028.
$X,XXX in bank rewards in only 12 months.
I like FREE...
800+ FICO.
Making all numbers dance on a financial ledger.
Abuse that score responsibility for maximum gain.
