My Juniper credit card got its total credit limit LOWERED!!! WHY!?!?

Question

I only got my total limit lowered by like $250, but they still lowered it and said they did it because I had too many new credit card accounts opened, and too many inquiries.

WTF!?!?!?

Im trying to reestablish my credit and got mannnny credit cards and what not, and now I'm getting PENALIZED for it?


What gives?

Anyways, is this bad for my credit score, that they lowered it?


Thanks.

Answer 1

I agree with the others that a bunch of new accounts do make creditors nervous.
Though Juny has been extremely odd and worse than normal lately.

Recently they had a computer glitch that was approving everyone and their dog. Since then it seems that they are penalizing many people, including customers that have excellent credit and have been in good standing with them for years.
Quite a few of the reasons that Juny has given are very flimsy and they might just have well said that they are reducing a persons credit, or closing the account, simply because that person had a grilled cheese for lunch instead of the tuna melt.

You should stop applying for new credit and let your new accounts age before you slowly continue to rebuild your credit.

And, until Juny stumbles across their brains, you might keep a low profile with them for the next 6-12 months.

As far as your scores, if the decrease didn't place your account(s) at a high utilization rate then it shouldn't have much of an impact on the scores.
If it did place your account(s) at a high utilization rate you might pay down the balances as soon as you can.

Answer 2

No that doesn't impression the credit besides the reality that it impacts your credit worthiness or how a lot you're able to take transport of or the max volume you have. Now what impression your credit are various issues: a million. the share you employ out of your available credit as revolving credit. 2. no longer paying your expenses on time and so on. in the different hand in case you're able to have owed 25K from the 80K meaning that could owe 31% which isn't that undesirable yet permit's say your credit is decreased to 30K and you proceed owing 25K meaning you have used 80 3% of your available credit and that's what impression your credit, additionally they think approximately the revolving credit that's how long you reside with the debt, the way you pay it and different issues. So the respond on your question. no longer this does not impression your credit on your case reason you do no longer owe something. And anyhow it fairly is on your credit which you had that quantity or which you have been nicely worth this a lot anyhow. I genuinely have being banking with economic business enterprise of usa and that they larger the credit each month they have not dropped it in any respect. Neither Amex Blue. yet I heard some human beings this has being performed.

Answer 3

Borrowers that apply for too many accounts at once tell their creditors they may be in deep trouble and they are heading a default off at the pass! This is complicated, but go to this website and read it all!

This site is about credit repair and the content definitely applies to you! Especially the "how credit scoring works" section.

I used this site to help repair my credit and got my score up frm 485 to 720 in a little over a year!

Credit has a lot of myths and I didn't get them all either! This website will help cure those, really!

Answer 4

Credit card company looks at your total exposure credit line and decides that it doesn't want to take risk with someone who has too many credit cards open.

If I were you, I'd rather have one or two credit cards with high credit line instead of several little ones. If you try to re-establish your credit, having too many credit cards and too many inquiries won't help you.

Answer 5

The more credit cards you have the less likely it is that you'll be able to pay them all off or keep them all current. Especially if you have bad credit.