Can credit cards approve you for a credit limit and then lower the limit due to "Increase in cr

I applied to credit cards, they approved me. I have never been late on any bills to my name. Can a credit card company approve me for a limit then lower that limit due to %26quot;credit debt increase%26quot; and if so is there a way to argue that with the head hancos? I just started a business and it is more of a business debt then a personal debt. Any Suggestions??/?/

much appreactiated Laura

Can credit cards approve you for a credit limit and then lower the limit due to %26quot;Increase in credit card debt%26quot;

Hi Laura,

I%26#039;m sorry to break the news to you, but credit card companies can do this. I%26#039;m sure it is in your agreement with them.

They can also do things like change the due date on your account, which would cause many people to pay their credit card late. These companies are all about making money.

(They did it to me about a year ago and there wasn%26#039;t anything I could do about it.)

Good luck.

Can credit cards approve you for a credit limit and then lower the limit due to %26quot;Increase in credit card debt%26quot;

yes they can do what they like, it%26#039;s their money. By credit card recently sent me a letter saying as a %26#039;responsible lender%26#039; we are reducing your limit, about a month after the put it up. If you are always at your max and take out lots of cash they arelikely to do this.

Can credit cards approve you for a credit limit and then lower the limit due to %26quot;Increase in credit card debt%26quot;

they can do anything withdraw the card included

Can credit cards approve you for a credit limit and then lower the limit due to %26quot;Increase in credit card debt%26quot;

You could try to call the office and discuss your needs with them, but I am going to suggest they may have done you a huge favour. Credit cards get away from people, the interest rates are too high. I would suggest that you see a lending institution of your choice and negotiate a personal loan for your business. Worth with a check book and you will have all the flexibility you need without the prohibitive costs.

Good luck.

Kind regards

Lisa

Can credit cards approve you for a credit limit and then lower the limit due to %26quot;Increase in credit card debt%26quot;

Yeah they probably can - it%26#039;ll be in the small print somwhere.

It%26#039;s a bit strange though... usually they want to extend your limits, not reduce them!

You might be able to convince them - especially if you point out that you always pay on time and have a good credit rating. Otherwise another bank will probably give you one.

Can credit cards approve you for a credit limit and then lower the limit due to %26quot;Increase in credit card debt%26quot;

Remember that a credit to income ratio can have an effect on your credit rating as well. If they feel that the amount of available credit as a whole is too much for the amount of income that they can account for. They may consider that the credit risk even if you always pay on time.

Can credit cards approve you for a credit limit and then lower the limit due to %26quot;Increase in credit card debt%26quot;

Pay it off and drop it. alot of ppls credit is being messed with from inside the institutions. Take my advice. Please.