Loading ...I am what the credit card companies call a “freeloader”. My credit score is over 800 and I have several cards that I use and pay off monthly. I do not carry the debt. I live ‘cash and carry’ on a monthly basis, and the credit cards are for payment convenience only.
In the past I have gotten notices from my credit card companies that they are increasing my credit limit… obviously in hopes of getting more interest out of me… because I’m such a good customer.
Surprise! Today I got a first-ever notice from one of my credit cards that “since I was not using all of my credit limit” they reduced my credit line by approximately 20%. I had rarely used up to 5% of my credit limit before that on a monthly basis, always paid in full monthly. So this is not a problem for me…. but I find this new twist is interesting.
It appears the bank is trying to reduce it’s credit exposure. Hmmmm