Posts tagged "credit_score"

credit score utilization ratio

What should I do to prevent banks from slashing my credit limit?

I think my current credit utilization rate is about 85%. It's been like forever due to the following situation: I've paid my debt to more than one year at $ 1,000 per month or more. However, what happens is that banks simply continue to cut my limit to balance my classes each time you make a large payment in the minimum payment. I know it has become very common, but I wonder if there is a so that only you can stop. Should I put the most money and pay on account at the same time? I thought in this case, my score will improve a bit and Lenders do not cut all the limits. Would this work? sigh …

A few months ago I received a letter that my limit has been greatly reduced. The reason was that I not in use. A couple of weeks later, I gave them a call and told them I did not like being cut, because every time I needed the upper limit of an expensive purchase. I asked to replace 80% of the amount cut. They said they would only all the way to the previous limit. Surprise! Not hurt to call and talk to a real live person. I was lucky to be referred to a specialist immediately and not have to tell you everything. So give it a chance. What is the risk down?