Returned from vacation and began the look, throw and shred exercise on accumulated mail. A letter from Citibank stated they lowered my credit limit by about $2.5k for not have enough balance owing. They said to call them if I have an issue with it but not going to call since I'm essentially retired and the questions they might ask may result in a even lower limit. In fairness, I had a zero balance on the card so I should be thankful they didn't cancel it. I've had the card since 1998.

I'll start making a few charges on it to show some activity so they don't throw me overboard.

Yeah, I got the same letter this week. I've been a customer since 1994. I called them immediately. Do not fuck with my credit score. That's exactly what this crap does- it depresses your credit score and I have worked all my life for the score I have now. A request was sent to their credit department for review. Fuckin' kids who were born after I opened the account, no doubt. We'll see what they do. I should know in a week or two.

What they're attempting to do is limit their liability in case my card is stolen or if I decide I want to max out the card and then declare bankruptcy or walk into traffic. I guess thirty years of being a good customer is insufficient to these soulless fucks.

Something is definitely up in the credit market, it’s like they’re all really spooked right now.

I’m wondering if they’ve already started to see people and businesses starting to cut back and retrench and are reacting to this?

I was poking around a few weeks ago at a loan to consolidate a couple credit cards and the number of companies practically begging me to go with them was off the charts, both by email and phone.

They're not making any money off of me. I don't carry a balance and I pay as soon as I get my statement. They see my available credit as nothing but a risk to them because I don't use it, but they know what this shit does to a person's credit score. Unfortunately, many people don't realize this and they let creditors punish a customer in good standing.

If I had a 15,000 dollar balance with them, they'd be ready to let me bugger them.

They aren't called Shitty Bank for nothing.

My credit score just dropped below 800’s for the first time in 25 years and I couldn’t be happier.

https://www.cnbc.com/2023/02/0...t-card-fee-rule.html

With these new rules they are changing the way they do business.

AMEX did the same thing to me. I had 10k limit and a zero balance, and had been that way for a couple years. My laptop died and I went to purchase a new Macbook, and it was denied. Called AMEX and they said it was reduced to 1k because of lack of use.

The same thing happen to me my credit was reduce by $3000.00. I been a member since 1988. I don't carry a balance, I use the card maybe twice a year.

Citi cancelled a card on us because it had a $0 balance for over 3 years.

Chase is closing my accounts for inactivity. I couldn't be happier. My credit score will go down, but I really don't care.

In total I spent hours on the phone with them in the last year. I can't log in to my accounts because they want to call or text me for verification, to a number that's been out of service for years. And no matter how many times I've contacted them to update the number, their computers revert back to the old number. I call, they "fix" it, I can log in once. Next month it's back to the way it was. I believe I played this game four times.

Can't fix this minor thing, I can't trust you at all.

I had an 837 FICO when I bought a bike on a Saturday. The dealer said I had to use their loan to take the bike home that day, so I did, figuring I'd just grab a loan from my credit union and refi the dealer's loan before the first payment was due. I did some poking around and found one place lower than my CU, so I entered my info there. By the time my CU saw my online loan app on Monday, my FICO had dropped to 740. WTF? Yeah, I had a huge Amex bill at the time, but I've always paid it off by the due date, never carried a balance or paid interest.

If you don’t use your credit card, they’ll lower the limit or even outright cancel it. I’m surprised you haven’t learned this by now. I learned about it while I was still working. A couple closed due to non use but I just shrugged it off. Then AmEx sent a letter lowering my limit but I was about to go overseas and was planning a big purchase on it. I called and gave them my story and they restored my limit.

When I quit working, I made sure every card I have gets charged every month even if it’s just a few dollars.

Chase lowered my limit by $1,800 recently, despite my excellent payment record.
.

They're all fucking with their customers by lowering their risk aka credit limits.

RMD

They are tightening up their books. If they are not making money on you they will pull back your limits. Loans for cars are also getting more scrutinized even if you have good credit. They see rough waters ahead so they are battening down the hatches.

quote:

Originally posted by egregore:
They aren't called Shitty Bank for nothing.

"Shitty Bank". I like that. They certainly have shit on me.

I almost always pay my card off as soon as it's due to avoid interest. But a year or so ago I forgot to make a payment and they of course charged me interest and a big penalty. They told me to pay it off by the 25th of the month. Ok. I sent in a check that would get there in plenty of time. Then I went to use the card and it was declined! I called and asked why the hell they didn't tell me they were going to do that. Got a rather smug yet vague response, but decided to just swallow it. It's a Costco card, so I didn't want to ditch it.

So again, last month I forgot a payment again with exactly the same results. Except this time I can't get a human on the phone.

Ok, time for a new credit card company. It has to be a Visa for use at Costco. If anyone has any suggestions, I'm all ears.

That's not that bad.

Discover cancelled my card because I hadn't used it in a while.

At least you still have a card to use.

Bob

I have all my cards on autopay. I haven't written a check for a credit card in probably 15 yrs. I have the Costco and Sam's Club Citi cards for everything I buy there, mostly gas (4% and 5% off respectively), and the rest of my life goes on my Amex Business Platinum. I have one Visa from US Bank I try to use once a year just to keep it active because doing so gets my checking account maint. fees waived and I don't use that account for regular commission deposits, so it doesn't usually have a large balance. There are ways to maximize credit card use for rewards and perks.

"auto bounce"

I had a coworker who got destroyed with auto-pay issues some years back. He had it setup on several things. Ran into money trouble and the account was empty. But apparently the auto pay systems just keep trying to process it several times. He was getting banged $15-$30 for each time it was denied by his bank, and a good chunk of change from whomever was getting denied. Ended up costing an extra couple hundred bucks IIRC, which was no small thing considering he was literally flat broke.