We live in an unusual time as far as the economy is concerned. It seems like normal financial advice dished out by the money experts no longer apply. During these recessionary times, this one specifically, all credit card companies without exception are doing things that they normally don't.
Credit card companies are reducing credit card limits without any regard to consumer credit profiles, credit scores, or financial situations based on debt to income ratios. The banks simply have taken many more losses than in normal times, so they have to tighten credit standards to reduce losses. They are far from the customer service era of doing things to satisfy customers. They have changed their attitude and focused everything on the bottom line. Banks do not care if they piss off loyal customers paying on time because they are being buried in losses and just trying to stay afloat.
If you find your credit limit reduced and your financial situation has not changed, then chances are you are simply a victim of the credit card company reducing limits based on entire portfolios being minimized for loss exposure. It doesn't matter if your FICO score is high, you have no other debt or no debt at all, or if you have a high net worth. I know it is hard not to take it personal and become angry, but the fact of the matter is credit card companies are reducing every one's credit. The idea is if you have no more credit available, you can't default on it. It doesn't make any sense in the big scheme of things, but the credit card companies aren't looking pass today in making their credit limit decisions.
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