Bye-bye, high credit limit

I’ve been getting hit hard by my credit card lenders in the past few months. First, Chase outright closed my account without warning because of inactivity. And now, my “big” credit card — the one with the $30,000 limit — is not so big anymore.

The bank it was issued through is apparently no longer associated with the card. Instead it’s only one company, FIA Card Services. I had the choice of getting a new card with the bank in addition to keeping this one. I didn’t want to lose the credit history, and I didn’t want an additional credit card. Then FIA sent me the notice in the mail that said, in part:

“We periodically review our customers’ accounts to ensure we are offering each cardholder the most appropriate credit line. In some cases, we discover we have extended customers more credit than they are likely to use or need. Given the size of your credit line and the way you have historically used your account, we have adjusted the credit line on your card to $15,000.”

Granted, I never had more than a couple thousand dollars on the card at any one time, but who’s to say we wouldn’t need the credit after buying a house, which is still a possibility for this year? I don’t see the point in them lowering the limit, unless FIA somehow saves the company money. It also changes my debt-to-credit ratio once again. Luckily, I only owe $2k on this card (my only debt, from the wedding), and it’s going to be paid off by June 1.

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