Chase Credit Cards are cutting my limits as I pay off the card saying the same thing each time.
So, Chase has been cutting my limits despite me having a solid 720+ credit rating. Seems like every time I send in $500 they cut my limit proportionately. They claim my balance has grown too much in each letter, always saying the same thing. However, I’ve done nothing but pay down my debts. Is using the same excuse to cut my limits legal?
Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here
They could cut your credit limit because they say you have toe cheese. The reason why is not important. They cut it becuase they can.
I think that since you get the same letter each month your balance is just above an amount they want to see it at and the reduction and letter happens automatically.
It’s not personal, it’s not you, it’s just Chase saying they don’t value your business or you anymore.Chase Bank Lowers My Credit Limit As I Make Payments Each Month. - Josh by Steve Rhode