Available Credit Reduction Protection

[Chevyjunky77]

All,

Is there any score protection for when multiple creditors reduce the available credit line? Anything I can do to contest. Credit usage went from 30% to 90% when my new limits were set a couple hundred dollars above current balances. Nothing changed financially on my end and received no real answer from the creditors.

[pizzadude]

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@Chevyjunky77 wrote:

All,

Is there any score protection for when multiple creditors reduce the available credit line? Anything I can do to contest. Credit usage went from 30% to 90% when my new limits were set a couple hundred dollars above current balances. Nothing changed financially on my end and received no real answer from the creditors.

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No, there really isn't any "protection" in the sense that your FICO score is calculated based on your currently reported revolving utilization.

Unfortunately when creditors balance chase your limits it will have a negative effect on your score.   Reaching out them individually is the best option, but they may not be able to give you a lot of information.

Do you have any recent negative / derogatory items on your reports ?

[SouthJamaica]

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@Chevyjunky77 wrote:

All,

Is there any score protection for when multiple creditors reduce the available credit line? Anything I can do to contest. Credit usage went from 30% to 90% when my new limits were set a couple hundred dollars above current balances. Nothing changed financially on my end and received no real answer from the creditors.

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I'm not aware of anything you can do about it other than to call them up and try and make a case for why they should restore your limit.

[SDMarik]

So unfortunately there is nothing to contest or protect you against it, but you should try to find out what happened. If nothing changed on your end financailly, were there any other inquiries on your report? How much were the limits cut, what were the per card utilizations prior to the drop and how long were they like that?