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Credit Card Limits Cut

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Having your credit card limits cut unexpectedly can be demoralising, confusing and in some cases, stressful.

Often there is no reason given by the credit card issuer for this change, other than the generic ‘check your credit file’ answer that seems to be the go-to answer when lenders don’t want to tell you why they reached their decision.

Lenders can lawfully change your credit limit

It’s worth remembering that lenders are fully entitled to increase or decrease credit limits as they see fit and these decisions are often based on customer behaviours and use of the card. A scan through the lender’s terms and conditions will usually show that this is indeed a stipulated clause.

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Full Article

7 Jul 2014 by Kelly Luff Credit Crunch
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