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Honored Contributor
Posts: 28,763
Registered: ‎03-10-2010

I got that message somewhere.  I have not used my Capital one card in a long long time.  Then I got a letter apologizing and saying they had raised my credit limit.

 

I don't know but I didn't even look at what was going on for either message.  I don't use Cap One. 

Respected Contributor
Posts: 3,603
Registered: ‎06-15-2014

I would call and check the legitimacy of

email.

Respected Contributor
Posts: 2,621
Registered: ‎03-14-2010

I heard on our local news that is happening across the board.  Credit card companies are either lowering limits or cancelling cards during this pandemic.  People out of work are using credit cards to survive and then there's the potential of filing bankrupcy.  I was talking to someone just the other day who said 2 of her cards were cancelled and her amazon limit was lowered.  It's also going to be more difficult for some people to get loans, even with good credit ratings.

Honored Contributor
Posts: 24,569
Registered: ‎03-09-2010

Re: Capital One E-Mail

[ Edited ]

Ours was also lowered from Capital One, should not affect your credit score. We always pay in full, even with a large monthly bill. 

Trusted Contributor
Posts: 1,704
Registered: ‎11-02-2014

In the past month, our Capital One as well as Chase Visa lowered our available credit.  We never carry a balance and figured they're not making any money from us. 

Honored Contributor
Posts: 9,833
Registered: ‎05-13-2010

@Icegoddess   Unfortunately no debt, not charging your life away, not spending much money on stuff does affect your credit score. I know this because my having zero debt and paying off my cc every month has lowered mine.

 

We've owned our home since 2000, neither me nor my husband have any debt. We also have owned our vehicles for years. He/we don't know what his score is, he's never ever looked at his credit report. Years ago I looked at mine, cleaned it up because there was a lot of stuff on it that was either my some of my parents' combined or just my mother because our names are exactly the same. So my report is great but my score has dropped through the years.

 

Seems we're da*ned if we do and da*ned if we don't. Just cannot seem to win in this nutso world we reside in.

Respected Contributor
Posts: 4,177
Registered: ‎03-10-2010

I would just call them and ask why they lowered it.  Did you open a new credit card and have more credit with someone else?  may that is why they lowered it?

Esteemed Contributor
Posts: 5,506
Registered: ‎03-10-2010

I got a letter yesterday from USAA that they lowered my limit because I have almost never used the card. Btw, my score is really good but since we just paid off our house and only have one small car loan, I'm sure it'll go down some.

Honored Contributor
Posts: 23,363
Registered: ‎03-10-2010

This month I had my Paypal MasterCard  limit RAISED $4000. I did not ask for it....do not really need it.  I pay off the card each month...and do use it a lot. But I never charge even close to what the old limit was...so do not reallyknow why they raised it? 

my FICO score is 850 on average.  It varies by a point or two month to month. Probably raising my card limit will adversely affect my FICO for a few months..