Visa Credit Limit Revoked & Credit Rating?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
2 posts
creditcardhelp
Green Member
Green Member
 
Posts: 6
Joined: Tue Jan 26, 2010 8:14 pm
Location: Canada

Visa Credit Limit Revoked & Credit Rating?

Postby creditcardhelp » Fri Jan 29, 2010 2:54 pm

Hello,

Can someone please be kind enough to explain how if credit limit is revoked on visa card (credit limit is now $0 due to credit company making it $0) affects credit rating?

Is this considered a "charge off" account? I spoke with visa they said its not a charged off account, its considered "credit limit revoke".

However, I cannot use the credit card and would have to reapply for a new one. Does anyone know how this affects credit rating? And for how long?


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 » Sat Feb 13, 2010 9:29 pm

Did you post this same question in another part of the forum?
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 “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests