Thursday, December 15, 2011

What are the reasons that a credit card lender can cut you credit limit?

i have a credit card and all of a sudden the bank cut down my limit and i called and they told me that something "negative" affected my credit score. what could those "negatives" be? thanks!|||It could be a late payment somewhere, not saying that's what happened, just a thought.|||Any one of a number of things can affect your credit score: decreased income, increased indebtedness, late payments on open accounts, criminal behavior, excessive traffic tickets, etc.|||Reasons:





1-Late payment/payment history.


2-debt/income ratio/unemployed/financial hardship


3-Too many open credit lines with less income.|||Paying late or going over the limit are the two biggest reasons. It doesn't have to just be with them either. If they find out you've been late or gone over with any other lender, they can still cut your limit. They can also raise your interest rate.|||Income change, late payments, bad credit report, constantly going overlimit, and making minimum payments, collections just about any reason.

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