why ar they doing this?

For just about anything you want to get off your chest about credit cards.
2 posts
chris01
 
Posts: 1
Joined: Mon Jul 12, 2010 10:53 pm
Location: wv

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???


User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

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.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests