@Remedios wrote:
@Brian_Earl_Spilner wrote:
@Remedios wrote:
@markhs777 wrote:I also got scapled. From 30k to 10k. Just paid my annual fee last week. Proceeded to call CS and politely explained that I put thousands thruough the card over the years and to either refund the fee or the card will be lay dormat and to cancel upon renewal. The CSR refused to budge and then asked him his name again and ID and told him I would be e-mailing Richard Fairbanks and tell him I wasn't pleased. Well amazingly the CSR found the system now allows him to waive the fee.
I don't know why CSR refunded your fee, but it certainly wasn't because you mentioned Mr Fairbanks.
In the last 5 years, his name and email address have been mentioned more than Santa Claus in November, and they have been "contacted" for everything from latest removal to *Give me a puppy or QS1 dies*
If anything, this post should have been a separate thread regarding a nice thing CSR did for you.
They can afford to lose customers, and they aren't (just like most lenders) worried about losing a few in order to preserve their bottom line.
Wait, so if I want a puppy, all I need to do is cut up my QS1? Where has this info been? *Gets scissors and phone*
I'd love to answer your question but I'm too busy telling Chase CSR imma bout to email Jamie Dimon if AF on CSR isn't waived.
That's fine. I've escalated it to your executive office.
According to this article Capital One has been on a CLD binge:
https://www.doctorofcredit.com/capital-one-reducing-credit-limits/
This action is because of the pandemic and the economic recession. Pure and simple. Here's an idea for the banks who have been around for about 100 years. STOP GIVING PEOPLE REDICULOUSLY HIGH SLs. That way, they don't have to CLD anyone. Great idea right? But no. For some reason, they let that automated SL algorithm spew out $10k here and $20k there.
Also, when people ask for CLIs, make them prove their spend justifies it. Or stop the AI from raising it every 6 months. There are ways around looking like a mean old Scrooge. On the other hand, people are told to keep cards open to increase their AAOA. So, they buy coffee every month. The bank then decreases their CL because the customer only spends $5 a month on it. But when people complain about the lower limit, they get reprimanded for it. "You shouldn't complain. You knew it would happen. It's just the way things are."
But in great economic times, the sky's the limit with banks. They start spewing out high CLs again.
Here we are with two importan factors in a credit score. AAOA and utilization where CLs are an important part of that equation. Banks control both. They can close your card or decrease your limit even though they received every payment on time and their customer's credit file is A grade. To me, that's punitive just for upholding your end of the contract agreement. People should complain.
Banks do this so THEIR balance sheet looks good. D**n the loyal customer. I'm starting to look at credit relationships as gambles. You never know what you're going to get with a credit card company. My advice is to act before the credit card companies do. It's like playing the stock market. Economy slows down, sell. Move into cash. With credit cards, pay down your balancecs and prepare for CLDs and/or closures. 
I agree that most of the people going for crazy credit lines and trying for increases are probably not your average person which is why you hear it on the forums here so much. My wife has a handful of credit cards and has never asked for an increase. Her feeling is the lines they gave are sufficient for her spending so why take more and I agree with that but the game is too fun to pass up for me!
