Question: Dear Steve, I had attained a credit score right around 700. Within the past 3-4 months, mostly due to COVID-19, I had to take creditors up on their offer to forego a few payments. Suddenly, I had 2 of my major creditor cards reduce my credit line (one went from $21,600 to $8,900, the …
Several of the credit card companies that I am paying off are now reducing my line of credit by the amount of payments that I am making to pay off these debts. Of course when they do this they always sight my credit report shows that my balances to available credit is too high. How …
Charles “Dear Steve, Bank of America has lowered my credit line from 23000 to 16 and when I called to complain the dropped it down to the current level of 13500. I use my card in business and know they have the right to do this but what about the negative effect on my credit …
Jimi “Dear Steve, I am $60,000 in credit card debt. The banks have lowered all my limits and raised all my interest rates astronomically. Is it better for my future credit to do Debt Consolidation or Debt Settlement? Thanks! Jimi” Dear Jimi, A debt consolidation could be refinancing the home mortgage to take cash out …
“Dear Steve, I have perfect credit but the crdit card companies have bee lowering credit limits and then saying that ny balance is too close to the limit which affects my credit score. Is there any recourse I have against them to re-instate my original credit limits. I am no more a risk today than …
San Francisco, CA – March 2, 2009 – According to a new survey for National Consumer Protection Week (March 1-8) from Credit.com, a third (33.7%) of consumers say their credit card company has made one or more of the following changes to their credit account: Increased their interest rate 15% Increased their minimum payment due …