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My credit limit for one of my cards was reduced due to a negative report that showed up on my credit report as a result of a bad roommate situation. Your friend can get a free copy of their credit report if they contact the credit agencies with 30 days of being denied credit. The credit card company should have sent your friend a letter explaining the credit issues. If the credit card is shared, one authorized user might have actually lowered the limit. Also, if your credit rating is very bad it could happen too. This happened to me too-one from 25000 to 12000- on 4 accounts.I have never been late ever but they said it was due to high balances-so why do they approve and if you use the cards even PAY ontime you are punished? These were merged banks and non merger This has happened to me because of "the manner in which I've paid my account", in other words late payments. It is also possible to have your credit limit reduced if you do not make money for the credit card company. Recently had citibank end a credit card program (att rewards card) and i applied for a similar card that citibank offers. The application was approved but credit limit was $4,000 (a $13,000 reduction from previous card). I finally got the reason from a cust. rep.; it was because of "poor performance". I have never paid any finance charges because I paid off all monthly balances before due. So i did not make enough money for citibank. (anyone know if this practice is legal--essentially dumping people who have done nothing wrong?)
What else can I help you with?
How much is a two percent purchase on a credit card?
It will depend on how much your credit limit is. For example, if your credit card limit is $500, a two percent purchase on your credit card would be $10.00
Does lowering your credit limit on a card hurt your credit score?
Lowering a credit card's limit may cause a credit score to go up, down, or remain the same. Factors that impact a credit score can include: the amount a credit limit is reduced, on-time payments, new accounts being opened and if balances are paid down or increased.
What is the limit on a HBC credit card?
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.
What are the features of premier credit card?
A premier credit card will usually offer points that can be redeemed for different products. It may also offer a higher spending limit or reduced rate.
How much is the limit on a Halifax credit card?
The limit on a Halifax credit card is determined by the credit history of the applicant. There can be no way of knowing ahead of time what the limit will be on the card.
How much is a two percent purchase on a credit card?
It will depend on how much your credit limit is. For example, if your credit card limit is $500, a two percent purchase on your credit card would be $10.00
Does lowering your credit limit on a card hurt your credit score?
Lowering a credit card's limit may cause a credit score to go up, down, or remain the same. Factors that impact a credit score can include: the amount a credit limit is reduced, on-time payments, new accounts being opened and if balances are paid down or increased.
What is the limit on a HBC credit card?
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.
Can you overdraw on a credit card?
Yes, but the card issuing bank would charge you over limit fee and other additional fees if you exceed your credit limit
When would your credit card company charge you an over limit fee?
When you charge more than your current credit limit
What are the features of premier credit card?
A premier credit card will usually offer points that can be redeemed for different products. It may also offer a higher spending limit or reduced rate.
How much is the limit on a Halifax credit card?
The limit on a Halifax credit card is determined by the credit history of the applicant. There can be no way of knowing ahead of time what the limit will be on the card.
What is the difference between a credit limit and a cash advance limit on a credit card?
A credit limit is the maximum amount you can spend on your credit card for purchases, while a cash advance limit is the maximum amount you can withdraw as cash from your credit card.
Where would I get information on applying for a platinum credit card?
A platinum credit card is a credit card which usually has a higher than usual credit limit. Also it has more advantages than a standard credit card or a gold credit card.
What is the difference between a cash advance limit and a credit limit on a credit card?
A cash advance limit is the maximum amount of cash you can withdraw from your credit card, typically lower than the credit limit. The credit limit is the total amount you can spend on purchases using the card.
How would you find the available credit limit for cardholder?
Listed besides card on credit report
What sort of credit limit is on the Chase Visa signature card?
The credit limit that is on the Chase Visa signature card is a $5000 credit limit. This credit limit matches up with the average credit limit across all banks in America.
