Comments on: Beware of Falling Credit Limits http://www.creditaddict.com/archives/beware-of-falling-credit-limits/ feeding your credit card addiction... Tue, 16 Mar 2010 05:25:05 -0400 http://wordpress.org/?v=abc hourly 1 By: Jane http://www.creditaddict.com/archives/beware-of-falling-credit-limits/comment-page-1/#comment-398 Jane Thu, 10 Apr 2008 01:01:54 +0000 http://www.creditaddict.com/archives/beware-of-falling-credit-limits/#comment-398 One other factor you didn't mention not using your card enough. I cancelled a Blommindale's Visa which I had gotten due to some big furniture purchases there and had kept in case my primary credit card was lost or stolen. They reduced my limit from $6,000 to $500 saying that my not using it enough made me a credit risk. By the way my credit score at the time was pushing 800. Needless to say I was not amused and a funny thing they didn't try to keep me go figure. One other factor you didn’t mention not using your card enough. I cancelled a Blommindale’s Visa which I had gotten due to some big furniture purchases there and had kept in case my primary credit card was lost or stolen. They reduced my limit from $6,000 to $500 saying that my not using it enough made me a credit risk. By the way my credit score at the time was pushing 800. Needless to say I was not amused and a funny thing they didn’t try to keep me go figure.

]]> By: admin http://www.creditaddict.com/archives/beware-of-falling-credit-limits/comment-page-1/#comment-376 admin Wed, 02 Apr 2008 17:06:36 +0000 http://www.creditaddict.com/archives/beware-of-falling-credit-limits/#comment-376 m3kp: There's not much more information in the article that what I gave, but it's on page 22 in the April 2008 issue. Hope this helps. m3kp: There’s not much more information in the article that what I gave, but it’s on page 22 in the April 2008 issue. Hope this helps.

]]> By: m3kp http://www.creditaddict.com/archives/beware-of-falling-credit-limits/comment-page-1/#comment-369 m3kp Tue, 01 Apr 2008 12:59:18 +0000 http://www.creditaddict.com/archives/beware-of-falling-credit-limits/#comment-369 Can you tell me where the article is in Money Magazine? I have a friend who had this happen - to her husband's business card. It has really caused them some havoc. I would like to tell her where the article is so she can go look it up in the library. Can you tell me where the article is in Money Magazine? I have a friend who had this happen – to her husband’s business card. It has really caused them some havoc. I would like to tell her where the article is so she can go look it up in the library.

]]> By: admin http://www.creditaddict.com/archives/beware-of-falling-credit-limits/comment-page-1/#comment-367 admin Mon, 31 Mar 2008 22:07:50 +0000 http://www.creditaddict.com/archives/beware-of-falling-credit-limits/#comment-367 Peter: That's a good question. I think a big part of it is that they can see *who* you're borrowing from, and certain lenders specialize in riskier types of loans. That being said, I would imagine that things like high utilization and late payments (on any credit or loan, not just the one in question) would be the biggest things that would trigger this. Peter: That’s a good question. I think a big part of it is that they can see *who* you’re borrowing from, and certain lenders specialize in riskier types of loans. That being said, I would imagine that things like high utilization and late payments (on any credit or loan, not just the one in question) would be the biggest things that would trigger this.

]]> By: lulugal11 http://www.creditaddict.com/archives/beware-of-falling-credit-limits/comment-page-1/#comment-366 lulugal11 Mon, 31 Mar 2008 17:58:41 +0000 http://www.creditaddict.com/archives/beware-of-falling-credit-limits/#comment-366 I recently had this happen with one of my Amex cards. I called to have the limit increased back to what it was but they declined stating that I had too high utilization ratios. Like reducing my credit was helping right? I tried again to get it increased but they refused so I cancelled the card. I have another Amex that has a higher limit which has not been reduced and it is older so it helps my credit score. I recently had this happen with one of my Amex cards. I called to have the limit increased back to what it was but they declined stating that I had too high utilization ratios.

Like reducing my credit was helping right? I tried again to get it increased but they refused so I cancelled the card. I have another Amex that has a higher limit which has not been reduced and it is older so it helps my credit score.

]]> By: Peter http://www.creditaddict.com/archives/beware-of-falling-credit-limits/comment-page-1/#comment-364 Peter Mon, 31 Mar 2008 15:40:35 +0000 http://www.creditaddict.com/archives/beware-of-falling-credit-limits/#comment-364 How would a credit card company know the terms of a mortgage that appears on your credit report. The fact that it is interest-only does not appear on your credit report. Nor does the fact that it is an ARM, balloon, or whatever. Or the interest rate. How would a credit card company know the terms of a mortgage that appears on your credit report. The fact that it is interest-only does not appear on your credit report. Nor does the fact that it is an ARM, balloon, or whatever. Or the interest rate.

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