The system is rigged

[snakedoctor]

Every time I pay down a credit card to try to increase my credit score, the companies decrease my limit. Has anyone else had this issue. What's the point of paying it down if they're gonna adjust the limit that you pay down. The whole thing is a game that I'm tired of playing.

 

[01yellercobra]

I've never had a company decrease my limit. That seems weird.

 

[VegasMichael]

I've never had a company decrease my limit. That seems weird.

I have when I ran up big balances on two other cards. If the credit card company considers you a risk they lower limits.

 

[13COBRA]

Every time I pay down a credit card to try to increase my credit score, the companies decrease my limit. Has anyone else had this issue. What's the point of paying it down if they're gonna adjust the limit that you pay down. The whole thing is a game that I'm tired of playing.

It just depends.

Say you have a $50k limit, and at one time you were putting $30k+ on it. Now you have it paid off down to $5k and have been dropping it for the last 6 months. They will absolutely drop it, because you're not showing you need that borrowing power.

 

[PC03GT]

It just depends.

Say you have a $50k limit, and at one time you were putting $30k+ on it. Now you have it paid off down to $5k and have been dropping it for the last 6 months. They will absolutely drop it, because you're not showing you need that borrowing power.

This.....and those MOFOS want you in debt

 

[MG0h3]

Never had a limit drop either.


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[black4vcobra]

It just depends.

Say you have a $50k limit, and at one time you were putting $30k+ on it. Now you have it paid off down to $5k and have been dropping it for the last 6 months. They will absolutely drop it, because you're not showing you need that borrowing power.

Yup, years ago as my income was rising and I used a specific CC for most of my purchases (if it had good rewards or 0% interest) I kept asking for increases if it didn't affect my credit score. Then when I stopped using that card much they started lowering the limit.

Oh well, never have more than $1000 or so combined balance on all my 8 cards.

 

[Zemedici]

I’ve never had a limit drop either, opposite actually.

I run a lot of monthly through my Amex, for cash back, etc

Typically has a 2-4K balance; they’ve just upped my limit constantly without me asking, think it’s up to like 15k now

 

[Outlaw99]

Thats 100% opposite of mine. When I pay one off, I get a nice increase. I have 5 and it's with all of them.

I never make a minimum payment though. Always 2 or 3x the min.

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[Kevinbonds]

Happens all the time. Companies are decreasing their exposure. I have a few cards I’ve opened to get a promo rate, pay it off and balance gets slashed. I stopped using credit cards and went to Amex. Credit card rates are nuts, so if I need to extend out a purchase I just use my heloc which is a much lower rate.

 

[AustinSN]

I'm with everyone else, I have only had mine increase.

I've carried a balance one time on like $100 when I first got my credit card because I was told to do so. I'm too cheap to pay interest so I just pay them off once per month now.

I had no idea how much credit I even have, last time I checked was like 3 years ago and it was around $35,000. Pretty seldom do I ever use over 10% of it.

 

[jpro]

This is SVTP, we pay straight cash because we’re all flush.


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[98 svt]

This is SVTP, we pay straight cash because we’re all flush.


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[CompOrange04GT]

This is SVTP, we pay straight cash because we’re all flush.


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Or because our credit is shit and we have no credit cards lol

 

[Weather Man]

With a possible inbound recession, CC companies limiting exposure.

 

[gimmie11s]

Yup, years ago as my income was rising and I used a specific CC for most of my purchases (if it had good rewards or 0% interest) I kept asking for increases if it didn't affect my credit score. Then when I stopped using that card much they started lowering the limit.

Oh well, never have more than $1000 or so combined balance on all my 8 cards.

Why would you need 8 credit cards if they never have more than $1k combined?

Stop the cap bro.

 

[lOOKnGO]

Fun story on CC's had a Platinum Amex 30 years ago. I called them to tell them I was going through a divorce and was checking the past months transactions because of the soon to be Ex. They sent me a cancelation notice. Never looked backed. Just don't need any of them.

 

[PhoenixM3]

Why would you need 8 credit cards if they never have more than $1k combined?

Stop the cap bro.

Yeah, I've never had more than 2 credit cards... One for a backup, as I exercise them both...

 

[black4vcobra]

Why would you need 8 credit cards if they never have more than $1k combined?

Stop the cap bro.

They all serve or served some purpose. Like my Cabela's card, Amazon card (5% back), a couple travel cards that offered high initial bonuses, my BP card (15 cents off a gallon), Best Buy card, another that has rotating 5% cash back offers and another that offers 2% on anything/everything.

Maybe 4 of them get used each month and the other 4 used once or twice a year for whatever reason to keep the account open.

2 of them do have $49 annual fees but I've gotten thousands in flights out of them so it works out.

I am one of the relatively few that has the discipline to play the CC game and win.

 

[BlckBox04]

I had my limit on a card decrease because I stopped using it. Honestly it's better for your credit report to continuously paying down balances on time instead of having 0 balances. It shows your credit worthiness.