The CC Company may have seen an increase risk when they saw on an updated credit report/score. It could be a late payments, collections or any other derogatory item on your credit report that triggered it. The CC have the power to limit or increase your credit limit to lower their liability.
Yes. They have the right to do that. They are the one who is giving you the credit in the first place. Not only can they do that but they can also take away all your credit and close your account for no reason at all if they choose too and they can also sell your account to another company without your permission just because they want too. But they have to notify you that they are doing that. Yes, they can change or even cancel your limit without your consent.
Yes, especially if you keep it at the max, or do not pay it as agreed.
Credit limit will vary depending on your credit rating and what the credit company is willing to offer you.
Yes
Credit limit is determined by the information given to the company during their application. The person's income and credit score play a big part in the limit.
Yes. They have the right to do that. They are the one who is giving you the credit in the first place. Not only can they do that but they can also take away all your credit and close your account for no reason at all if they choose too and they can also sell your account to another company without your permission just because they want too. But they have to notify you that they are doing that. Yes, they can change or even cancel your limit without your consent.
Yes, especially if you keep it at the max, or do not pay it as agreed.
Credit limit will vary depending on your credit rating and what the credit company is willing to offer you.
Yes
Credit limit is determined by the information given to the company during their application. The person's income and credit score play a big part in the limit.
The limit for an HBC credit card is communicated to the purchaser of a new Hudson Bay Company credit card directly. This is the only way that one can determine the cash limit and credit limit on an HBC credit card.
When you charge more than your current credit limit
Yes they can. I keep getting increases all the time usually notice on my statements. One is at 5k! You can ask them to not apply further increases to your account just telephone them, as they are required to stop the increases when you request to do so.
Credit Company manage it by way of evaluating there customer on how they will use it and spend it. Some credit company limits their credit so that user can limit also the way they will spend it.
This amount is different for everyone and depends on your specific credit card, credit history, credit card company, etc. The best way to find out what your limit is is to contact your credit card company directly.
credit limit fee
If you go over your credit limit, you credit company will charge a fee and report your overage to the major companies that track your credit score. It is wise to watch spending the and never go over your limit.