I live in a very nice house, tax appraised at about 1/2 million. I have quite a bit of cash in local banks, sitting in jumbo certificate of deposits.
Yesterday, I got a renewal master card in the mail, my GM mastercard.
I have not used it in a while and they lowered my crdit limit to $300. What can you do with a $300 limit?
My fico score is over 800, so I feel kind of insulted! Would you?
This is kind of insulting!!
April 28th, 2009 at 07:03 pm
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April 28th, 2009 at 10:06 pm 1240952777
even dumber is that you will hurt your score if you max it out so your limit is looking more like 100$
that is insulting , it just shows what idiots credit card co are I find it interesting that they are ridding themselves of us customers who actually have money! it seems like those ho choose credit not need it would be who they would be after, ;-)
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April 28th, 2009 at 11:43 pm 1240958594
But if they did do that because of they don't like doing business with you somehow, then yes, I would be very insulted by that.
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Yes, I'd be insulted. As someone else already said, a $300 limit with a charge of even $100 on it, is going to look VERY bad. (I guess now that is highly unlikely and rightfully so)
That is/was a HUGE knock against CAPITAL ONE. They are/were notorious for not providing the credit agencies with cardholders credit limit amounts.
Therefore, the credit agencies had no choice (which I do find hard to believe) but to assume a card with let's say a $1,000 balance on it also had a corresponding credit limit of $1,000. @@
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