Gatorubet
Loathing All Things Georgia
Just got two notices in the mail that two of my chase credit cards limits are being lowered. I googled a bit and saw that they (banks) are trying to limit credit and get folks closer to their limits (one card of mine was lowered 7K to be right at my current balance) so that they can count on squeezing over-limit fees - and also bump you to higher interest rates. The new law that goes into effect this July.
I note that the letters are dated in June, and that the envelope, being a bulk mailer, has no date or post mark. Assholes.
I'm going to pay both of them off now, as using a large percentage of your total revolving credit line (i.e. balances more than a third of your limit) will lower your FICO score.
Lots of people will be screwed by this. People will be charged higher interest rates and be denied credit and loans due to the lower FICO scores that result from this arbitrary bull[censored].
I note that the letters are dated in June, and that the envelope, being a bulk mailer, has no date or post mark. Assholes.
I'm going to pay both of them off now, as using a large percentage of your total revolving credit line (i.e. balances more than a third of your limit) will lower your FICO score.
Lots of people will be screwed by this. People will be charged higher interest rates and be denied credit and loans due to the lower FICO scores that result from this arbitrary bull[censored].
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