credit limit getting lowered

[netrox]

I noticed the credit limit of my two credit cards got lowered.

I later just found out that banks will cut down credit limit even for those who pay everytime on their credit cards.

But at the same time, I am glad the banks are taking responsibility for extending too much credit to consumers who have proven history of credit problems!

 

[Hear Again]

this is all due to the current state of our economy. additionally, banks are rapidly losing money because of people who do not pay their credit card bills on time. the only way to recouperate their losses is to lower their customers' credit limit.

 

[shel90]

that's good...reduces the temptation to spend money that we dont have!

 

[Oddball]

That's good. I agree with Shel90. It limits my temptations.

 

[sequoias]

That is good at least.

 

[Mistyrose]

Yep, i got a notice from my credit card co. that
my credit limit got lowered too as well my best
friend's..not surprised due to our bad economy
and all..thats ok as i dont use the card very often.
I have been real careful with my spending cuz
of high prices of groceries and everything else.