Reduced Credit Limit for Making Large Payment

Posted Fri July 15, 2011 2:24 pm, by Carol L. written to Chase Bank

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For the second time in about a year and a half, I made a large payment on my Chase Visa account in an attempt to reduce my balance and lower my monthly payments. Both times I have done this, Chase has thanked me by lowering my credit limit.

This is problematic for two reasons: 1) Obviously I have less available credit for my use, should I need it. 2) The lower limit means that more of my available credit is "in use" which negatively impacts my credit score.

Based on my on-time payment history over many years, I would like my credit limit restored to the previous level.

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This is happening quite alot these days by Bill R. Posted Fri July 15, 2011 @ 3:01 PM Carol L., Check out this link and see what others have to say about the same issue. http://www.thesimpledollar.com/2010/03/07/why-was-my-credit-limit-lowe red/ BillR. Reply Interesting by Carol L. Fri July 15, 2011 @ 5:27 PM