If someone were to foreclose on a home. Would, lets say, credit card companies "take away" some of your credit limit. For example if they initally gave you 10,000 could they change it and give you less since you foreclosed?
2007-12-22 13:06:20 · 3 answers · asked by 331m 1 in Business & Finance ➔ Credit
Funny how you say take away. So many people think their credit cards are "theirs". Good marketing I guess.
Your credit limit and interest rate can be changed at any time for no reason at all.
So if you score drops below trigger points, or you go delinquent with any account, major card companies will reduce the lines or close the accounts.
a>
2007-12-22 19:46:25 · answer #1 · answered by Gatsby216 7 · 0⤊ 0⤋
Credit card companies are empowered to do a lot these days....so that's a definite "yes" to your question. They constantly monitor your credit reports for signs of trouble...Even one late payment on another credit card can cause your interest rates to go to 33%. Cutting card limits is certainly another option for them.
2007-12-22 21:18:36 · answer #2 · answered by CatDad 7 · 0⤊ 0⤋
Yes.
2007-12-22 21:14:23 · answer #3 · answered by Gooogled 4 · 0⤊ 0⤋