Why does my credit card limit keep reducing??

[OCGuy]

These are automated messages that are spit out when they run your credit. Please dont take them too seriously.

 

[yh125d]

Credit card debt? Or does student loan debt count as well?

No they are separate. On your report there are two non-deliquent types of debt. Long-term installment debt (car loan, student loan, mortgage), and revolving credit (CC). High utilization of revolving debt means having a 4k max CC, a 5k max CC, and a 1k max CC, with say 8k spread out over them all. You'd be at 8k/10k available, or 80% utilization, which is bad


Though from the sounds of it you seem to be at 0% utilization, call your bank and protest. When they lower your amoutn of available revolving credit, it hurts your score

 

[Kntx]

They're probably hoping you don't notice and then blow your limit so they can collect some fees. Sweet sweet fees.

 

[ShawnD1]

lol 300$

That is fucked. I'm a student with no income right now and my limit is $5000.

 

[IceBergSLiM]

Credit card debt? Or does student loan debt count as well?



It's a Macy's store visa. I use it for the discounts, but haven't used it in almost a year at this point. My other credit card limits haven't changed one bit.

Macy's was or is in bad financial shape. They have been trimming credit lines for most all their customers to limit their exposure to the ongoing credit crisis. They cust mine by 50% ....I just paid off the balance and haven't used it since.
I would just close the account.