Credit Line Reduction - Not even mad

[Appleman]

A few months back, I received a letter from CapitalOne saying they would be reviewing my account and that they may reduce my credit line in April (based on current utilization). I did not change my spending on the 1.5% card, and I have a recurring charge for a service with them.

True to the word, at the end of April, I received notice that my CL was cut from $25,000 to $10,000. I had reduced my CL from $35,000 to $25,000 about two years ago when Cap1 was on another reduction in CL spree.

From a business perspective, I understand the move on their part. I don't expect my spending to change, and the new CL is plenty. As I said, not even mad!

[OmarGB9]

Well glad you're taking it in stride. 

[FinStar]

Thank you for sharing your experience with the CLD and DPs, OP.

[Fico82]

Sorry to hear 😞.  Glad it doesn't affect you at all.

[NRB525]

Glad to hear you are having a good day !

☀️

[Appleman]

I was impressed with the communication from CapitalOne. They let me know it was coming and had I called or changed my spending, the credit line may have remained unchanged.

All too often people are surprised by an unexpected cut.

[OmarGB9]

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@Appleman wrote:

I was impressed with the communication from CapitalOne. They let me know it was coming and had I called or changed my spending, the credit line may have remained unchanged.

All too often people are surprised by an unexpected cut.

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Very true, most issuers CLD without warning.

[babygirl1256]

That's a very positive way of looking at it . . . it could have hurt your score if the account was closed!!!

[SUPERSQUID]

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@OmarGB9 wrote:

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@Appleman wrote:

I was impressed with the communication from CapitalOne. They let me know it was coming and had I called or changed my spending, the credit line may have remained unchanged.

All too often people are surprised by an unexpected cut.

---

Very true, most issuers CLD without warning.

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[CreditInspired]

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@Appleman wrote:

A few months back, I received a letter from CapitalOne saying they would be reviewing my account and that they may reduce my credit line in April (based on current utilization). I did not change my spending on the 1.5% card, and I have a recurring charge for a service with them.

True to the word, at the end of April, I received notice that my CL was cut from $25,000 to $10,000. I had reduced my CL from $35,000 to $25,000 about two years ago when Cap1 was on another reduction in CL spree.

From a business perspective, I understand the move on their part. I don't expect my spending to change, and the new CL is plenty. As I said, not even mad!

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Kudos to you