Credit Card Forum
  1. #1
    chris01
    chris01 is offline
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    Default why ar they doing this?

    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???
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    Reply With Quote Reply With Quote     Jul 12, 10, 8:58 pm
  2. #2
    Mogul of Pineapples
    Mogul of Pineapples is offline
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    Default

    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. 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: Citi Thank You Premier
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    Reply With Quote Reply With Quote     Jul 21, 10, 4:23 pm
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