- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
I've had some of my limits cut for what seems like no reason, too. It doesn't seem fair, but there is a reason for it. Any open line of credit is a potential liability (read risk) for the bank. If they can bring limits down they minimize their risk. While this might not have been all that important a few years ago (cc lines would seem to be a drop in the bucket compared with credit default swaps, etc.), it is now that banks are forced to undergo stress tests, sort of a check-up on their vulnerabilities.
The only time I had my lines cut was when I did something to draw attention to myself. One time I called the bank to have a portion of one line reassigned to a different card at the same bank. They were happy to do it but in the process shaved about 20k off my combined limit. Another bank whacked a $54k limit almost in half when I opened another account with them. There's no way in the world I would have ever used that much credit, but it was kind of nice having it.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).
*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.