@leah5570 wrote:
I agree, pay it off hopefully on your next statement and you'll be fine. I read on article on MSN I think about how banks are deciding which customers to cut limits on. One of the things they said is reviewing the purchase history of a person who used their credit card for entertainment purposes, and then suddenly began using it for gas or small grocery purchases. The bank sees that as a customer who possibly lost their job and must use credit to pay for necessities instead of bars, restaurants, and ticketmaster. When my husband and I first got our Navy Fed card, with a $3500 limit, we noted in the application this card would be used to pay all household expenses for the month, to be paid in full each month. Helps me make sure money isn't trickling out our checking account all month long, and we get a point for each dollar we charge temporarily for regular expenses we pay anyways each month. That way Navy Fed will never place us in a category of entertainment folks, moved to everyday purchases. We also used $1200 right off the bat, the first month, and that would pretty much be the norm. When they reported us, we only had $900 charged up. It actually increased my husbands score and mine, despite the "high" balance first time.
Just pay in full when you make a huge purchase and they'll show you some more love. :-)
When you did your down on the card, did they swipe it or did you have to use a convenience check?
Just FTR the MSN article was talking about banks not CU. CU are not known to profile and chop in this way so not to worry as much with CU, another benefit of belonging, CUs rule!
DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
