Auto-increase CL options disappearing?

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Mogul of Pineapples
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Auto-increase CL options disappearing?

Postby Mogul of Pineapples » Wed Jul 30, 2008 9:30 pm

All of my credit cards use to have an option to automatically increase your credit limit by checking. There would be a button and when you clicked on it, it would say something such as:

"Congratulations, you're eligible for an credit line increase of $2000. Would you like to accept this increase?"

These use to be on all of the websites - American Express, Bank of America, Chase, etc. The last few months I haven't seen that as an option on any of my accounts and my credit hasn't changed. Do you think this is just industry cutbacks from the credit crunch?
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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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
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magyar1045
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Postby magyar1045 » Thu Jul 31, 2008 11:48 am

Yes - this is the result of the socalled credit "crunch. As a matter of fact more and more big name creditors are actually decreasing credit limits. They don't want to really get burned once bankruptcy filings start going through the roof.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Jul 31, 2008 9:20 pm

How long do you think before it hits the fan? Here's what I think - Higher price increases for natural gas and heating oil (it's up much more than gas at the pump) will really hit home this winter. All these mcmansions people were mortgaged up to their eyeballs to buy, the heating bills will push them over the edge. Not to mention the slight decrease in oil prices is only temporary.
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

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fffresh
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Postby fffresh » Fri Aug 01, 2008 1:41 pm

When I log into my Amex Blue account online I use to have a button I could press to do this as often as every month! Well that's long gone now. :(

AnthonyBarone
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Postby AnthonyBarone » Sat Aug 02, 2008 12:30 pm

I've also heard about a lot of folks having their credit limits decreased for no reason by their creditors. Hasn't happened to me yet but I wouldn't be surprised if it does. Even though I don't spend an arm and a leg I do have high limits on a couple cards.

We won't be seeing 5 digit credit limits dished out to everyone anymore.

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Postby magyar123 » Sat Aug 02, 2008 1:49 pm

The decrease in limits, increase of interest rates to predatory loanshark levels, and cancelling cards is called "universal default". Congress tried to stop this practice, but Bush vetoed anything in the bill that would NOT line banks'/creditors' pockets.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Aug 05, 2008 12:03 am

I wasn't aware that bast*** Bush vetoed it. Do you know if they're going to try again to pass it? I swear I don't know how that man sleeps at night with what he does to us.

Oh yeah, are you the same as Magyar1045?
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



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