Credit limit

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
4 posts
tvirk888
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Joined: Thu Aug 29, 2013 1:51 pm
Location: Seattle, WA

Credit limit

Postby tvirk888 » Tue Dec 03, 2013 4:02 pm

Since I've been using my family business Gold card, I stopped used my Wells Fargo card, and use my Chase card where places don't take Amex. I still have things that get charged on the Wells Fargo card (Netflix and Redbox streaming) and I don't really utilize much of my CL on the Chase card either. Is there a chance they will decrease the CL?
Amex BCE - $20K (11/2014)
Amex Everyday - $20K (04/2015)
Amex Business Gold - NPSL (09/2013)
Bank Of America Cash Rewards - $5K (11/2014)
Chase Freedom - $11,700 (10/2013)
Chase Sapphire Preferred - $18K (11/2014)
Citi Thank You Preferred - $10K (11/2014)
U.S. Bank Cash+ - $5K (03/2015)
Wells Fargo Platinum Rewards - $4700 (05/2009)


MemberSince99
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Location: WI

Postby MemberSince99 » Tue Dec 03, 2013 4:53 pm

I think it's hard to predict what a given lender will do in a case like that. I'm guessing as long as you keep things in order (don't get insane utilization, etc) they probably won't, but I've heard stories of lenders cutting limits that were not being used as they would prefer (mostly BofA) and during the start of the current economic Depression that never ends we are in (early 2008-2009) they were of course even slashing limits on good customers to reduce exposure, so that's possible if they need to do that too of course.


I've done similar things on my cards and they did not cut my limit for it. Granted I did not do it for years or anything.


But in general I think if you take care of your credit there isn't too much to worry about. I don't know specifically about WF though maybe someone has experience dealing with them who can chime in.

tvirk888
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Posts: 72
Joined: Thu Aug 29, 2013 1:51 pm
Location: Seattle, WA

Postby tvirk888 » Tue Dec 03, 2013 4:56 pm

Usually what happens when I stop using my Wells Fargo card, they raise my limit. But they raise it $500~ each time. Each card at the moment has 3% utilization. All I can do is just wait and see I guess and keep some transactions going on each card.
Amex BCE - $20K (11/2014)
Amex Everyday - $20K (04/2015)
Amex Business Gold - NPSL (09/2013)
Bank Of America Cash Rewards - $5K (11/2014)
Chase Freedom - $11,700 (10/2013)
Chase Sapphire Preferred - $18K (11/2014)
Citi Thank You Preferred - $10K (11/2014)
U.S. Bank Cash+ - $5K (03/2015)
Wells Fargo Platinum Rewards - $4700 (05/2009)

sj632
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Location: The Moon

Postby sj632 » Wed Dec 04, 2013 6:06 pm

I can't speak for wf but I think in general they will be likely to cut your limit if you start maxing out cards more than not using,them. It all about their risk



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