@Anonymous wrote:Seriously, I want to cry. I just checked my Chase cards and they've done the same. I paid them off and now my credit limits have been reduced by several thousand dollars. I'm paying this all off because I want to better my score and get out of debt. I want to buy a house next year. But now I feel like if I manage to get forward two steps, here come the credit card companies pushing me back three steps. I could understand if I had late payments, but every card has been paid on time, every time. I was excited to pay off my debt and see my scores rebound back to what they use to be, but now I'm just totally bummed.
When you get your total credit utilization below 10% call each of your CC companies and request increases. You have been a loyal customer, always paid your bills on time, used your credit line (that is what it is there for) responsibly, and request that they restore your credit limits. You have been a loyal, responsible, profitable customer. What more do they want?
Please try not to stay discouraged. If it's possible to pay them without filing bankruptcy, do so and leave the accounts opened. Let them continue to age and in time you can get the limits up or new cards with other banks. In the meantime, your Aaoa will not suffer and your scors will rebound. Remember that this is an endurance race not a sprint.
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That sucks and I know first hand. They accidentally completely closed my account after I made a payment that decreased my balance by 60%. Despite my best efforts with letters to EO they will not re-open. I agree you should be pro=active and call them ASAP.
Good luck.
