credit limit reduced

[Anonymous]

hi. I have alot of questions and alot of work to do to repair my credit rating. I'l keep it simple and start with my latest credit trauma! Arrrrgh!

Went online to pay my PayPal Buyer Credit account monthly statement and since my last visit(about 2 weeks ago), they have dropped my credit limit from 300.00 to 100.00.

I always pay this account off promptly, and haven't paid ANYTHING late for the past couple of years. any idea why this would happen? thanks for any help you can provide.

Kudos! Thanks!

[Anonymous]

Do you have high util on your other accounts?

Carried a balance long?

[Anonymous]

uh-oh... looking at the list of abbreviations, not sure what "Utilization of debt to credit line" means. The account is fairly new, I've had the PayPal account for about 4-5 yrs, but the Buyer Credit acct is only about 9 months. I usually pay off the entire balance every month.

Message Edited by FollowDaMoney on 04-14-2009 09:40 PM

[fishbjc]

Sounds like an account review.  I'm waiting for my review, I know it's coming.

[Anonymous]

Had the exact same thing happen with paypal, same limits to lol.

difference was I have carried a 34.00 balance to the plus for 6 months.

I called and canceled the card.

My credit is not perfect, but a 100.00 limit card is worthless.