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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.
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...
@Anonymous glad you got limit restored. That's a great news
Sorry for your limit reduction
EDIT Congrats on getting your limit reinstated !
@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
Sorry for your reduction also
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.
@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.
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
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?
@gdale6 wrote:
@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.
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
@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.)
@K-in-Boston wrote:
@gdale6 wrote:
@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.
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
@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.)
Yeah, I have 2 of them now and will be looking to expand to a few more CUs. Thanks for the suggestion.
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.....
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!