No April Fool - Serious Banking Q for guys in the know

[G_Thang]

i had a line of credit with washington mutual for 10k which i used for school and business.  the acct was switched to chase.  you know banking consolidation and all.  anyway...these yahoos just reduced my line to 1500, have been giving me stories about lack of activity, market conditions, protect me from fraud, etc.  then they comeback and say they can pull my credit report and consider an increase on the acct.  what the f##k is that if they just reduced by 8500 in the last 24hrs?

how do i deal with this?

thanks.    

[JOCKTHEGLIDE]

no,,,with banking reform and how the economy is,,creditors are now reducing the limts on people because at any momment they know you can lose your source of income any time,,,so they dont want to rick it,,if you lose income you can start to charge on cards right away

[Tapeworm]

[El Diablo Blanco]

Banks are the world's biggest fucking crooks.

[bigkid]

Thats rough.  The cut mine from 20 to 9500.  Just a backlash from how they fucked up in the first place.  I remember when my limit was 3000 i called to get it raised.  I was thinking like 7500 or so.  She goes, "how does 18500 sound" This was in 06.

[emn1964]

hahaha...suck it up bitch...the world north of mexico aint for bitches...better figure out a way to find the money or your ass is going back to your third worl hovel

[Azn Muscle]

I remember a few years ago when I was in college I had like a 6k credit line but it was almost maxed out, so I paid 4k of it off basically draining my checking account.  A few days later they dropped my limit down 4k so my credit card was still maxed out.  But since I paid it off with my checking account they essentially made me broke as now I had no cash or credit.

I called and asked them why this happened and they said my account had been re evaluated and I was a credit risk.  I asked how can I be a credit risk I never miss a payment and just paid 2/3 of my debt off not even 3 days before.  But they said too bad and shoved one up my arse.

Now mind you this happened while I was on vacation in Hawaii during Xmas.  Worst vacation ever. 

[Palpatine Q]

I remember a few years ago when I was in college I had like a 6k credit line but it was almost maxed out, so I paid 4k of it off basically draining my checking account.  A few days later they dropped my limit down 4k so my credit card was still maxed out.  But since I paid it off with my checking account they essentially made me broke as now I had no cash or credit.

I called and asked them why this happened and they said my account had been re evaluated and I was a credit risk.  I asked how can I be a credit risk I never miss a payment and just paid 2/3 of my debt off not even 3 days before.  But they said too bad and shoved one up my arse.

Now mind you this happened while I was on vacation in Hawaii during Xmas.  Worst vacation ever. 

OUCH...that's a no-grease fuckjob right there

[CalvinH]

i had a line of credit with washington mutual for 10k which i used for school and business.  the acct was switched to chase.  you know banking consolidation and all.  anyway...these yahoos just reduced my line to 1500, have been giving me stories about lack of activity, market conditions, protect me from fraud, etc.  then they comeback and say they can pull my credit report and consider an increase on the acct.  what the f##k is that if they just reduced by 8500 in the last 24hrs?

how do i deal with this?

thanks.    

Michael Douglass,"Falling Down"

[G_Thang]

no,,,with banking reform and how the economy is,,creditors are now reducing the limts on people because at any momment they know you can lose your source of income any time,,,so they dont want to rick it,,if you lose income you can start to charge on cards right away

an alternative would be to cap your credit at a point.  hence...if they want to protect you from fraud and protect their interest...not letting u charge to live...they can cap a 10000 line at 2000 only allowing you to use that much until there is an economic turn around.  at least as a consumer you still show that credit line you worked for over a 10 yr period intact. away...i'm after their a$$e$ right now.     

[G_Thang]

hahaha...suck it up bitch...the world north of mexico aint for bitches...better figure out a way to find the money or your ass is going back to your third worl hovel

good one.  excellent!  when i finish NA education...i'm going back to the slums.  thank you very much. 

[what:]

You can't do anything.  I work for one of the major banks and had a customer that used their line of credit for overdraft protection.  They canceled his line which caused $400 in overdraft fees.  Two days after he went into the branch to see what happened and he was pre-approved for a credit card right on the spot.   I have tons of these stories.   

[MJK]

i had a line of credit with washington mutual for 10k which i used for school and business.  the acct was switched to chase.  you know banking consolidation and all.  anyway...these yahoos just reduced my line to 1500, have been giving me stories about lack of activity, market conditions, protect me from fraud, etc.  then they comeback and say they can pull my credit report and consider an increase on the acct.  what the f##k is that if they just reduced by 8500 in the last 24hrs?

how do i deal with this?

thanks.    

Means you are overextended.