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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 104039
Experience:  Attorney experienced in commercial litigation.
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Hello-I am having a problem with a credit card company for

Resolved Question:

Hello-I am having a problem with a credit card company for which I need
advice. I received an email from them stating that they
were reviewing my account due to one or more late
payments. As soon as I received this email,
I went online to investigate this. The payment
in question was, in fact, on time, and I have the
proof to back this up. The letter went on to say
that after reviewing my account, they were going
to lower my credit limit from $25,000.00 to $5,700.00.
During this time, I paid another $1,000.00 on my
account, just to show good faith.

When I spoke with the first of five representatives,
she said "the figures told her" that our debt was too
hi, so our credit limit was going to be lowered. They did
admit that my online payment in question, was,
in fact, not late so they took the late fees off.
My concern was not about the late fee. It was about
them lowering my credit limit and how that can/will
affect my credit score. I know other credit cards
I have could also follow suit. I am trying to protect
my credit score, which has put me in the top
5% of others with excellent credit. I make very good income, which I gave
them my figures. I also have assets which pay
me well throughout the year. My husband and I
have a sole proprietor business that does well.
The reason they want to deny our credit to us is
because we have an equity line of credit for
$200,000.00, of which the balance is now
under $100,000.00. Other than that, we have
very little in credit card debt, maybe $7,000.00.
Our Equity Line of Credit is tied to our business
and it is there if we need it to help us grow
our business. At one time we had a balance
of close to $200,000.00, but have paid it
down to $99,000.00. I spent four hours on the
phone with them, being transferred from rep
to rep, usually because they couldn't give me
any good solution to this info they are going to
report to the credit bureau. I have been a customer
of theirs for over twenty years, with an excellent
payment history. We came to a stalemate
after four grueling hours on the phone.

I need some advice as to what I should do
next and what my rights are. I sincerely thought
my high income and excellent payment history,
along with my high credit score would be enough
for them to reinstate my account as it was previous
to this mistake on their part. They will not budge
so far. I will await your answer. Thank you
for your time.
Submitted: 2 years ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 2 years ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

The lowering of your credit card limit increases your utilization score, meaning your credit balance to limit ratio. In increasing your utilization score, this can have a negative impact on your credit score by 20-40 points or so, depending on the rest of your credit and assets. In order to change the utilization score and raise your score back, you would have to pay more down on the credit card so that you lower that utilization score which would bring back your credit score as well.

I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO RECEIVE ANY CREDIT, if not the site keeps your money on deposit.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

This is NOT the practice of law nor is it legal advice to you, it is merely educational information for you to use to seek out a licensed attorney in your state to get actual legal advice from them. Please use sites such as or or to find a local attorney to get actual legal advice in all matters.
Customer: replied 2 years ago.
So, I think you are saying that there is nothing I can make this
credit card company do to change things back like they were before they
lowered my limit, even though it was their mistake. Is this correct?
Are you also saying to pay off my card with this company or with the
Equity Line of Credit bank? Thank you.

Also, about how long does it take for your score to come back up?
On Trans Union, my score today is 810.
Expert:  Law Educator, Esq. replied 2 years ago.
Thank you for your reply.

Yes, legally it is up to the credit card companies to decide how much credit to extend to someone and you cannot force them to extend you more credit. It was a right of a business to decide. You have a right to send a written appeal to them asking them to put it back the way it was, but legally they do not have to do so.

It can take 3-5 years sometimes for your score to come back up, but that also depends on all of your other assets and debts, sometimes it can be back in less than 2 years. Without examining your finances in depth there is no way to know.

Paying off the credit cards decreases your utilization score which could bring it back in less than a year. Using your equity line would still mean your utilization of credit is high. The less credit you use, the faster your utilization score drops which raises your credit score.
Law Educator, Esq., Lawyer
Satisfied Customers: 104039
Experience: Attorney experienced in commercial litigation.
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