Fortiva decrease my CL and closing my account

[cheeriosunshine]

So i have Fortiva for years, it has limit of $1150. I paid it off months ago, but i still pay $12.50 maintenance fee every month. Last week they sent me a email saying they have decreased my limit to $125 and will close my account on 8/26. First associate i talk to said she will escalate this, i have not heard from them. I called in today, they said it was due to inactivity. They don't count the maintenance fee as one. I am so mad right now, i have other cards with no activity at all and its still open. Now its gonna affect my credit score ):

[OmarGB9]

It shouldn't affect your credit score unless you have high utilization on other cards/overall. As far as age goes, it won't affect your score at all - it'll remain on your reports for up to 10 years.

As far as I'm concerned, they're doing you a favor. You're paying them $150/year for a measly $1150 credit line... with that kind of annual fee, you can get a very nice card from Chase/Amex/Citibank that will be a far better product and with the potential to actually grow.

[NoMoreE46]

@cheeriosunshine 

Welcome to MyFico forums.  What other cards & limits are you currently holding?

[7774x]

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@cheeriosunshine wrote:

So i have Fortiva for years, it has limit of $1150. I paid it off months ago, but i still pay $12.50 maintenance fee every month. Last week they sent me a email saying they have decreased my limit to $125 and will close my account on 8/26. First associate i talk to said she will escalate this, i have not heard from them. I called in today, they said it was due to inactivity. They don't count the maintenance fee as one. I am so mad right now, i have other cards with no activity at all and its still open. Now its gonna affect my credit score ):

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Google Fortiva reviews..They did you  a favor

[Anonymous]

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@OmarGB9 wrote:

As far as I'm concerned, they're doing you a favor. You're paying them $150/year for a measly $1150 credit line... with that kind of annual fee, you can get a very nice card from Chase/Amex/Citibank that will be a far better product and with the potential to actually grow.

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Yes.  I obviously don't know all their costs but you would think that getting $150 a year with no usage would be worth them keeping open!   

[bigseegar]

Unless it is your highest limit card and thus greatly effects your UTL it shouldn't hurt your score much at all. Instead of being mad you should thank them! They're  a bottom of the barrel predatory lender and their saving you $150 a year now. No way I'd pay $12.95 for a a tad over a thousand dollar limit even in a rebuild.