CNN Listen! Help Stop Credit Card Limits from being reduced!!

Stop Credit Card companies are lowering credit limits on good paying customers. The end result is a crime in that good paying customers are having there credit score reduced as much as 60 points depending on your total amount of credit card debt because credit card companies / banks are reducing credit limits close to the balance owed on those cards. This act appears to show to creditors you might seek new credit from that you are a risk because you cards are maxed out when you probably were not before the limits were reduced. Even if you pay down on the balances, credit card companies such as Bank of America and Citi are continuing to lower those limits on those cards as you pay them down.

The American people have no solution for this as the government has extended the deadline to January 2010 to comply and not raise rates to default rates of 25-27% or lower your credit limits just because you have other credit card debt. You need to call your Senators and Congressmen now and speak out. This needs to be reversed and these companies held responsible for deliberately hurting good credit worthy customers by forcing the credit reporting agencies to lower their credit scores due to the acts of the credit card companies. Lowering credit scores are based on card balances to credit limits and is adjusted automatically due to the system that calculates those scores.

Category:

News & Politics

Tags:

• High
• credit
• card
• rates
• CNN
• Listen
• and
• help
• stop
• companies
• from
• lowering
• limits
• on
• good
• paying
• customers.

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