Fifth Third decreased my credit limit.

[Anonymous]

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@Anonymous wrote:

Went online to download my latest statement for my Trio Rewards credit card at Fifth Third. Much to my surprise (and mostly dismay), I discovered they lowered my credit limit from $8500 down to a measly $500.

I have never been late on a payment and always paid in full every.single.month. I called customer service and spoke to a lower level rep who couldn't really give me any information other than to say that a letter of expanation was being mailed to me.

I have worked very hard to maintain a good credit score. It's always been in the 750+ range across all boards and no baddies on my credit reports and now my scores are going to take a hit. This is a real kick in the pants for me. I guess this is the thanks I get for being a customer since 1995.

Might be time to consider moving to a local credit union.

End of rant.

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Update.
As I stated earlier, after my CLD, I called the bank and filed a dispute. As of now, I am still waiting on the letter of explanation. Since I was so ticked off at them, I paid off the $79 balance on the card and SD'd it.

This morning (Sunday), I'm doing my daily ritual of checking my accounts. I open my Fifth Third account and it showed my balance as $0.00 owed on the card, but here's the real head scratcher...my limit is back up to $8500!

I am hoping this was only a software glitch, but won't know for certain until I receive the explanation letter. This whole ordeal left me sleepless for a couple of nights trying to figure out what went wrong. For now, I guess I'll sit tight and see what happens next. Keeping the card in the sock drawer for now.

Stay tuned...

[Remedios]

@Anonymous glad you got limit restored. That's a great news 

[Meanmchine]

Sorry for your limit reduction

EDIT  Congrats on getting your limit reinstated !

[Meanmchine]

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@Shooting-For-800 wrote:

They just AA my account as well.

from 4000 to 500. 

$0 balance.

last used 3 months ago.

I closed the account.

Only AA in years.

730s fico8

12% util

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Sorry for your reduction also

[markhs777]

My CL was not decreased however my cash advance limit was decreased from 6k to 1k. Not that I would ever use it I called out of curiosity and was told cash limits were decreased to 10% of the total limit for all customers. I little skeptical and no big deal but banks are becoming skittish. 

[gdale6]

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@markhs777 wrote:

My CL was not decreased however my cash advance limit was decreased from 6k to 1k. Not that I would ever use it I called out of curiosity and was told cash limits were decreased to 10% of the total limit for all customers. I little skeptical and no big deal but banks are becoming skittish. 

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I just noticed that and will be burning this account, they only reason I kept it was its high cash availability over Chase AARP but now that advantage is gone so bye bye 5/3

[K-in-Boston]

That is awesome that the limit seems to be restored!  In your case, this was a real head-scratcher with regular use and clean reports.

Since we have seen some similar posts (albeit with some possible reasons like inactivity) I wonder if perhaps this was simply a programming error that affected limits when it was only supposed to change cash advance limits?

[K-in-Boston]

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@gdale6 wrote:

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@markhs777 wrote:

My CL was not decreased however my cash advance limit was decreased from 6k to 1k. Not that I would ever use it I called out of curiosity and was told cash limits were decreased to 10% of the total limit for all customers. I little skeptical and no big deal but banks are becoming skittish. 

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I just noticed that and will be burning this account, they only reason I kept it was its high cash availability over Chase AARP but now that advantage is gone so bye bye 5/3

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@gdale6 this is where some CU cards are really different, with full availability of the credit line and sometimes not even a cash advance fee other than pass-throughs from ATMs.  (Of course there is interest to consider, but if it is short-term and the APR is sub-10% that doesn't add up too quickly.)

[gdale6]

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@K-in-Boston wrote:

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@gdale6 wrote:

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@markhs777 wrote:

My CL was not decreased however my cash advance limit was decreased from 6k to 1k. Not that I would ever use it I called out of curiosity and was told cash limits were decreased to 10% of the total limit for all customers. I little skeptical and no big deal but banks are becoming skittish. 

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I just noticed that and will be burning this account, they only reason I kept it was its high cash availability over Chase AARP but now that advantage is gone so bye bye 5/3

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@gdale6 this is where some CU cards are really different, with full availability of the credit line and sometimes not even a cash advance fee other than pass-throughs from ATMs.  (Of course there is interest to consider, but if it is short-term and the APR is sub-10% that doesn't add up too quickly.)

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Yeah, I have 2 of them now and will be looking to expand to a few more CUs. Thanks for the suggestion.

[Shooting-For-800]

What a bunch of idiots.

Maybe they should have made their CSA aware of this issue.

My CLOSED card shows $4,000 available.

I closed it because I thought it would look better than them closing it in the next few months.

Oh well.....