The Recent Economy and Creditors

[Anonymous]

With the recent struggle in our economy I have begin receiving letters from creditors with notices of a credit limit decreases. My credit was excellent ( in the high 700's) and I have always remained in good standing. However, my score is beginning to drop drastically because creditors is placing the credit limit very close to the credit balance. For example, I had 2,326.00 balance on a card with a 18,000.00 credit limit, the creditors decreased my limit to 3,000.00. What an unearned disadvantage! I have contacted creditors requesting the limit to return to its previous amount but many are refusing to budge. It appears that the many years that I've been a responsible borrower is losing its credibility with creditors. Let me know what you think

[Junejer]

Hi Wtclass. That wonderful phenomenon is called balance chasing and is becoming an increasingly popular trend. I would pay the minimum on the accounts that are doing that and pay down your other account balances.

[Anonymous]

Unfortunately this is being talked about all over. The CCC's are lowering cl to lower the liability on the company. It does bite, there is a bunch of threads in the credit card forum. You may want to mosey over there and see who all is making this changes so quicky so your not shocked with the next cld.

[Junejer]

Bran, are you following me? LOL.

[Anonymous]

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@Junejer wrote:
Bran, are you following me? LOL.

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LOL BM  

It looks that way but you're are following me.... my "A" key is missing on my laptop so were typing at the same time it seems but you're getting your post up within a minute or so of mine, I also have a habit of getting up in the middle of posting. Geesh I can't wait for my new keyboard to get here..... then we can race? LOL

Message Edited by Bran9192 on 12-02-2008 07:41 PM

[Junejer]

I know what you mean. My "t" on my desktop is sticky. It sucks, because when I hit it SOMETIMES it won't register at all. Other times, it will spit out two or three of them at once. So, backspace, be very careful and conscious when I am typing a t.

I don't want to race. I only type about 45 wpm or so (maybe a bit faster).

[Anonymous]

I can deal with a sticky key...but not a hole like my "a". I have to put my finger way down there to get it to register! Bet my computer feels violated! LOL I ordered a new keyboard from an ebay store & I guess the holidays have delayed shipment....

Ok darn it I must havw my head in the gutter becase after that posted & reread.... hole...before"a" hmm thinking there may be a wey around the language in here.

Message Edited by Bran9192 on 12-02-2008 08:00 PM

[Junejer]

Mine must be too, because I still read it as such.

Bran wrote: "but not a hole like my "a". LOL