09-07-2020, 08:00 PM
suddenly without notice my credit line was decreased
I've also had several credit card companies send me a limit reduction letter. I have a high FICO score as well. I think it's a proactive measure on the part of credit card companies to make sure their customers don't get in too deep during the COVID-19 crisis, and those of us who pay off our balances every month are roped into the policy for seemingly no reason. My notices all say my spending is far below my limit, so by their logic, I don't need a higher credit limit anyway.
I've also had several credit card companies send me a limit reduction letter. I have a high FICO score as well. I think it's a proactive measure on the part of credit card companies to make sure their customers don't get in too deep during the COVID-19 crisis, and those of us who pay off our balances every month are roped into the policy for seemingly no reason. My notices all say my spending is far below my limit, so by their logic, I don't need a higher credit limit anyway.