Well this is new

HurricaneHeather · 04-15-2009, 07:21 PM

So I have two credit cards with a large national bank.

Today I get two letters in the mail from said bank. One says: we are cancelling this card because you have sufficient credit on other accounts. (this card has no balance on it, but I use it on random occassions to keep it open.)

The other letter says that my credit limit has been reduced on the other card....reduced by 15K.

(this has a balance on it with stuff for my husband's school).

I have never had this happen before....I am at a loss for words.

Has this ever happened to anyone else? Is it because of the economy they think I might rack up all this credit and not pay it? Mind you, my account is in good standing, never had a late payment or overdrafts or any of that stuff.

I am just so confused and angry that they can do that. The one they cancelled was one of my oldest cards and so this is going to effect my credit overall....I'm so bummed. I don't need this right now.

04-15-2009, 07:21 PM	#1
HurricaneHeather AMA Supersport Join Date: Nov 2008 Location: Sydney Moto: '98 Honda Fireblade Posts: 3,696	Well this is new So I have two credit cards with a large national bank. Today I get two letters in the mail from said bank. One says: we are cancelling this card because you have sufficient credit on other accounts. (this card has no balance on it, but I use it on random occassions to keep it open.) The other letter says that my credit limit has been reduced on the other card....reduced by 15K. (this has a balance on it with stuff for my husband's school). I have never had this happen before....I am at a loss for words. Has this ever happened to anyone else? Is it because of the economy they think I might rack up all this credit and not pay it? Mind you, my account is in good standing, never had a late payment or overdrafts or any of that stuff. I am just so confused and angry that they can do that. The one they cancelled was one of my oldest cards and so this is going to effect my credit overall....I'm so bummed. I don't need this right now.