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Banks have lowered my credit limit on 6 credit cards

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    Winslow J

    Hi Daryl! Welcome! I had something similar happen - it was only on one card but it had a high limit and zero balance and the issuer closed it without warning. Definitely impacted my utilization in a way I hadn't planned on.

     

    In my case, it was probably because I hadn't been using it, which sounds different than your situation, but I do feel your pain!

     

    I was able to find this NerdWallet article that talks about what steps you can take to mitigate the impact of your credit limit being lowered: 3 Things to Do if Your Credit Limit Is Lowered

     

    Hopefully that can help a bit. It would be interesting to hear what the results are if you try those tips and want to share.

     

    Winslow

     

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