CREDIT LIMITS SLASHED AND CLOSED BY CREDIT CARD COMPANIES WITHOUT WARNING| 3 CREDIT CARD STRATEGIES

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CREDIT LIMITS SLASHED AND CLOSED BY CREDIT CARD COMPANIES WITHOUT WARNING| 3 CREDIT CARD STRATEGIES

✅In this video, I'm discussing how credit card companies are decreasing and closing credit cards.

✅I had 2 credit cards from Bank of America and the other day I got an email that they were closing the card on the same day. The card had a $12,000 credit limit.

✅ 3 Credit Card Strategies:
👉 Decrease credit card utilization. If you can have below 30% that is
okay but a zero utilization is better. Paying off the card every month
is the way to go.

👉Make small recurring purchases on ALL of your credit cards.

👉Increase your credit limits. Call to see if the credit card company
will increase your limit.

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I just want to get a high limit card. Before banks or credit union cut back because of the pandemic.

brickcity
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That a good idea to spread the wealth .. I noticed that paying my cards off weekly had a negative effect on my credit because the credit card companies had nothing to report so now I am just leaving enough for them to report each month and pay it off before it’s due

homiedonthateg
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Girl...that's happened to me a few times. Credit card companies are shady...LoL

FunandBudget
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based on the current economy, I think lenders will raise their standards for lending. At this point, my credit is not very good so it does not really matter for now

almay
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Ya that sucks. Sorry to hear that. Maybe go after a new card??

docsays
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Wow... Bank of America man. I saw a finance person recommend using credit to save cash. I guess these companies said, "Sike! Not going to happen"!

NoDebtButLove
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Banks 🏦 are 🤬 no don’t close them you need a certain amount of open credit accounts to reach 850

shawndoe