Credit cards that never lower your limit?

[kxkxkxx]

Not sure if these exist, but are there credit cards that will give you a credit limit but never lower it for being responsible? 

There is no secret that this country LOVES for people to be in debt....I have noticed since I have paid down or paid off my debt that credit cards are being cancelled or the balance is being lowered significantly. So it made me wonder if there are credit cards that will never lower your limit?

thank you in advance

[DebtStinks]

I don't think there's a cut n dry answer to this. My opinion would be it's less likely that a local (smaller-ish) credit union would be less likely to lower your CL as a result of responsible usage. Keep in mind, though, that if a credit card issuer has a consumer that has a (for example) 10k credit line and has never used more than (example) 1k in the last 2-3 years, that means they have 9k+ of money "tied up" that could be used for lending to another consumer and actually earn them interest. 

Put yourself in their "shoes"...would you want 10k, 20k, 100k of your money "invested" earning a 0% return? I think not.

Anyway, just my 2 cents.

Best of luck!

[kxkxkxx]

@DebtStinks Thanks for your fast reply! Yes, I agree with you when it comes to "their" point of view. Banks are in it to make money, so if I am not paying them a bucket load of interest, I would move on as well. I was just curious if there are any experiences out there where a bank (or credit union) had a different mindset.

Thanks again.

[Anonymous]

I guess the answer depends on what you consider "being responsible."  Different entities can have different definitions of that.  As with anything credit related, it's also very lender specific. 

Lender A may consider someone that's been carrying a 75% balance on a (say) $10k credit line for the last 5 years responsible if they've never missed a payment and only make minimum or slightly above minimum payments.  Lender B may not consider that responsible, where their definition may be someone that pays their statement balance in full monthly.

I don't think anyone however even if they're responsible by all definitions is immune to AA.  The first reply to this thread gave a perfect example when referencing a large [unused] credit limit.  I've got a ~$60k credit limit on an Amex card that I used minimally; I haven't spent or had a statement balance of more than a few hundred dollars on it per cycle in years.  By any definition I am top tier when it comes to responsible, but they have every reason in the world to slash that limit down to a few thousand dollars any time they'd like.   

[SouthJamaica]

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@kxkxkxx wrote:

Not sure if these exist, but are there credit cards that will give you a credit limit but never lower it for being responsible? 

There is no secret that this country LOVES for people to be in debt....I have noticed since I have paid down or paid off my debt that credit cards are being cancelled or the balance is being lowered significantly. So it made me wonder if there are credit cards that will never lower your limit?

thank you in advance

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Banks change their policies as the wind blows, and no customer would be immune from changes in prevailing bank culture, bank personnel, economic conditions, or financial market conditions.

Which is one reason why I believe in (a) diversification and (b) credit unions.

I agree with @DebtStinks that credit unions are less likely to engage in the kind of dishonorable adverse actions in which banks engage.

[kxkxkxx]

@SouthJamaica Thank you...Yes, seems that a credit union might have more loyalty not to mess with limits.

Thanks for the advice!

[Remedios]

Who lowered your limits and how long did you carry balances on them? 

[kxkxkxx]

@Remedios CapitalOne...they seem to be all over it when it comes to this. Also, my Amazon credit card. I had carried balances for over a year or so, but then had nothing for about a year. CapitalOne closed 1 account down and lowered another from 8,500 to 2,000. I never did put anything on Amazon after all, so they went from 5k to 1k....no problem with that at all.

Totally justified....but annoying at the same time...in case you ever have that 1 big purchase you might want to make.

[Remedios]

Yeah, Cap One is in process of shedding unused CLs, but I'm surprised they closed one for you, unless it went unused longer than 2 years. 

If your Amazon card was a Synchrony store card, it could have been worse than CLD. They have been closing unused lines, or cards where they deemed borrower as a risk, though, in many instances there appeared to be very little risk.

If it was Amazon card by Chase, they have recently reduced unused  lines for some, but a simple call was all it took to restore them. Outside of that, most Chase CLDs are the result of increased utilization on their cards and cards issued by other lenders. 

[Anonymous]

Barclays!