why ar they doing this?

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why ar they doing this?

Postby chris01 » Mon Jul 12, 2010 10:58 pm

I have two chase cards, and one capital one card. I was near the limits on both chase cards, but never missed a payment.. Chase card 1 had a limit of 1500 and chase card two 7500.. I payed off the 1500 to zero and chase cancelled it.. The 7500 i now have 4600 on and i just got a letter that lowered my limit to 5000... Why are they doing this???

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Mogul of Pineapples
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Postby Mogul of Pineapples » Wed Jul 21, 2010 6:23 pm

Card one with 1,500 limit and you had a 1,500 balance? That's why. Keep credit utilization below 25%. Using 100% is asking for trouble.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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