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Credit Card companies cutting credit limits


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So I got a call today from a Credit Card company to say they reduced my credit limit alot.

I provided them with a credit report showing 720 credit score and 0 late payments on anything I have made payments on in the last ten years. They said their decision was final.

It sucks when you do everything right, are never late, and make payments early they treat you like sh*t.

Thats my rant for the day.

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why did they cut it?

-Matt

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They said it was due to a negative item on the credit report. Funny thing is, i bought my credit report from all three bureaus ( Experian, Equifax and TransUnion) and all of them showed perfect credit.

I sent them a copy of the report, now they say they will consider an appeal and get back to me. Just unacceptable to treat people like that.

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thats why i just max mine out and get late payments all the time...i had no credit and that got me nowhere now i have bad credit and i get more offers than you can imagine :yahoo:

the story of live, they will always cater to you because they make the most from people like you...

me too actually...

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that is real shitty. if plastic wasnt so mandatory anymore id say just use cash.

i hope it gets appealed

-Matt

2005 Dodge Magnum RT
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thats why i just max mine out and get late payments all the time...i had no credit and that got me nowhere now i have bad credit and i get more offers than you can imagine :yahoo:

Ya, but your getting screwed on interest in the long run.

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thats why i just max mine out and get late payments all the time...i had no credit and that got me nowhere now i have bad credit and i get more offers than you can imagine :yahoo:

lmfao :yahoo:

yeah according to a friend of my wifes who worked as a loan officer ... they look for people who have missed payments late payments and have a huge balance left to solicit.

if a bank can see that you pay off a balance quickly they wont bother with you because they cant make any money from you. When you miss a payment or have a late payment thats when they collect off you.

I dont advise goin all out and maxing out your cards and missing payments like MrP. lol

But keep a little balance for a little while and you will see that your credit score will jump.

Edited by z_ro

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Actually you are not alone. In this economy there are a lot of people that the banks are cutting down or completely off, for no reason. Credit cards are nice and convenient if you know how to use then wisely but we should just go back to a cash only system or prepaid credit cards only. They should also pass some kinda law prohibiting students from getting them, or only allow them something like a $500 limit.

For the most part credit cards do absolutely nothing for anybody beside allow them to live outside of there means and that = Bad Credit.

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Actually you are not alone. In this economy there are a lot of people that the banks are cutting down or completely off, for no reason. Credit cards are nice and convenient if you know how to use then wisely but we should just go back to a cash only system or prepaid credit cards only. They should also pass some kinda law prohibiting students from getting them, or only allow them something like a $500 limit.

For the most part credit cards do absolutely nothing for anybody beside allow them to live outside of there means and that = Bad Credit.

totally agree.

i have one, but i dont ever use it. except for in case of an emergency

Edited by dwright27

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