Hsbc
Drastically Lowered Credit Limit for No Reason!

Business & Finance

Feb 27 letter received March 4 states that due to a "recent loss mitigation review" my credit limit was reduced to $300 from $2,400. I don't really care... I have $50 of recurring charges every month that I pay off in full and occasionally go up over that $300, also paid off in full but I spent a lot of time waiting and paying in full every month, being a good slave to the credit master, so I could boost my FICO.

Because as we all know, the system is stacked against us and in order to get a decent interest rate on a loan, you need that FICO up there and to get the FICO up there you have to dabble with using credit and to dabble with credit means minimum payment bondage in perpetuity for all but the most responsible so yeah... Paying in full every month got me ZIP now that my credit limit was reduced.

My credit report is fine, nothing changed, it's simply that they are in trouble and want to reduce their liability across the board since our wonderfully reckless new homeowners who are facing bankruptcy anyway like to jack all their credit cards out to the max, and then walk away from the house AND the cards. Hey... House of Cards, I made a funny.

So I can't wait until I see my FICO take a dive because my total available credit limit gets nicked away by this card and that card for NO GOOD REASON but being fiscally responsible. Just ONE MORE WAY the rest of us who did the right thing are getting shafted, hard.


Company: Hsbc
Country: USA
State: Illinois
City: Carol Stream
Address: PO Box 525
  <     >  

RELATED COMPLAINTS

Hsbc
Fraudulent practices

Hsbc
Overcharged

Hsbc
Credit limit reduced by $3400 without notice

Accountcentral By HSBC
Credit Limit lowered without warning Pennsylvania

Hsbc
My credit limit was reduced by 1/3, and my interest rate was raised to 24.99%!

Capital One Bank Usa
Capital One, N.A. After being a good cardholder for years they refuse to do anything with your existing terms

Direct Merchants Bank/HSBC
Credit line reduced 50% with no warning and great history Nevada

American Express
Reduced credit limit with no warning which shows reduced credit limit plus affects fico credit score never been late ever account over 10 years open i will discourage anyone catch 22

Capital One
Credit cards ripoff, misleading reporting to credit bureaus

GE Money Bank - Walmart Credit Card
Lowered credit limit for no reason