How to Respond to a Credit Line Reduction

It has been happening to numerous cardholders, because of the financial crisis and in recession credit companies are reducing consumers line of credit, but to reduce without notifying the cardholders is an outraged.
Most companies are not notifying the cardholders of any modifications toward their reductions pay close attention to your monthly statements.

Cardholders are more likely at risk if they have use their cards close to their credit limit or to the max. Even though you pay on time or you've been with the company for years you may receive a reduction on your credit line or your account maybe close.

I have a few tips that you can follow it's not set in stones, but give it a try.

Instructions

1

Ask to speak to your banks supervisor or someone in charge this will probably increase the chances of resolving the issue by stating if they can review your account and reconsider their decision.

2

If your credit limit has been reduced leaving you less than your current balance with over the limit fees and your terms of agreement were modify. New over the limit fees should not be apply towards your new line of credit. You can dispute it with the bank and to Federal Reserve Consumer.

3

I don't really suggest this solution, but if you have no other choice try to transfer from one card to another, if you have more than one card.

4

Use no more than half or below your availabe credit lines.

5

Review your credit report for resolved accounts, which are still there or for any invalid information.

6

Check your credit score. If your credit score has been effected by the above situation, try to fix your credit scroe; once you noticed its stable or up to your standards; request another review to your credit card company.