Qs Laptop
Thinks s/he gets paid by the post
- Joined
- Mar 11, 2018
- Messages
- 3,555
I have two credit cards I use, one for business purposes and one for personal uses. Chase Visa is my business card and has a $28,000 credit limit; Citi Visa is my personal card and had a $30,800 limit until recently.
Previously, I had used my Citi card as my business use card, but a couple of years ago I switched to using the Chase card as my business card. The Citi card became my personal card and was used for higher ticket purchases like appliances, stereo systems, a lawn mower, and vacations. I pay the balance off every month.
I got an email from Citi saying my credit limit had been adjusted so I logged into my account and took a look. It turns out there were two notices of credit limit adjustments, one last December lowering it from $30,800 to $21,000 and one from yesterday lowering it from $21,000 to $17,000.
This seems odd to me. Why would they lower my credit limit if I've been charging somewhat expensive things to it recently?
Besides my two Visa cards my wife uses a Discover card for typical things like groceries, gasoline, gym membership, restaurants, etc, and pays off the balance every month which is usually around $500. I think the credit limit on the Discover card is around $10,000.
I should mention household income has increased significantly in the past 3 years.
Any idea why Citi would lower my credit limit?
Previously, I had used my Citi card as my business use card, but a couple of years ago I switched to using the Chase card as my business card. The Citi card became my personal card and was used for higher ticket purchases like appliances, stereo systems, a lawn mower, and vacations. I pay the balance off every month.
I got an email from Citi saying my credit limit had been adjusted so I logged into my account and took a look. It turns out there were two notices of credit limit adjustments, one last December lowering it from $30,800 to $21,000 and one from yesterday lowering it from $21,000 to $17,000.
This seems odd to me. Why would they lower my credit limit if I've been charging somewhat expensive things to it recently?
Besides my two Visa cards my wife uses a Discover card for typical things like groceries, gasoline, gym membership, restaurants, etc, and pays off the balance every month which is usually around $500. I think the credit limit on the Discover card is around $10,000.
I should mention household income has increased significantly in the past 3 years.
Any idea why Citi would lower my credit limit?