Your credit card limit was just reduced
You ever pay the minimum amount due on your credit card bill and are never belated, but your credit card limit was just reduced?
Paying the minutest in 2009 is not good enough. Credit card companies are anticipating that as the dip plays out, consumers will be hard-pressed to keep up with their bills. So rhythmical if you have paid on time in the past, they are worried about what purposefulness happen in the future. And the fact that you pay just the minimum is a huge word to the wise signal to your credit card company. It’s a tip-off that you may already be on tenuous ground. Paying just the monthly minimum due signifies to a credit business card company that you may fall behind on payments in a severe recession and that you are also more inclined to to let your balance grow if you hit hard times. And that’s the last fetich they want in 2009. To keep you from doing just that, they cut your trust limit.
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