{"id":2230,"date":"2010-03-03T21:03:54","date_gmt":"2010-03-04T05:03:54","guid":{"rendered":"http:\/\/www.krunk4ever.com\/blog\/?p=2230"},"modified":"2010-03-03T21:03:54","modified_gmt":"2010-03-04T05:03:54","slug":"credit-lines-shrinkage","status":"publish","type":"post","link":"https:\/\/www.krunk4ever.com\/blog\/2010\/03\/03\/credit-lines-shrinkage\/","title":{"rendered":"Credit Lines Shrinkage"},"content":{"rendered":"<p>It looks like credit card companies are cracking down hard on unused credit. As I had blogged about previously, <a href=\"http:\/\/www.krunk4ever.com\/blog\/2010\/02\/17\/citi-credit-card-now-has-annual-fee\/\">Citi had began charging an annual fee for inactivity<\/a>. I actually called in this past weekend and inquired about switching to a different account with no fees. Unfortunately the customer service rep told me that it didn&#8217;t really matter which account I switched to, I&#8217;d be getting a similar letter soon afterwards telling me about the inactivity fee. I ended up closing that account. I believe I had about $6,000 in credit limit on that card.<\/p>\n<p>Today I received a letter from American Express stating:<\/p>\n<blockquote><p>We&#8217;re writing today because we noticed that you&#8217;ve only been using a small portion of your available credit limit. To more closely match your spending history, we have adjusted the credit limit on your account to $6,500.00 The cash advance limit is $1,3000.00. If this new credit limit is not sufficient for your business, please call us at 1-800-660-2454 between the hours of 8:00am and midnight Eastern Time, Monday to Friday.<\/p><\/blockquote>\n<p>I believe my previous credit limit on this card was either $10k or $11k, so basically reducing it in half. Technically, I only put about $100\/mo on this card, and mostly for gasoline purchases since it gives me 3% back instantly.<\/p>\n<p>Banks must be hurting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It looks like credit card companies are cracking down hard on unused credit. As I had blogged about previously, Citi had began charging an annual fee for inactivity. I actually called in this past weekend and inquired about switching to a different account with no fees. Unfortunately the customer service rep told me that it &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.krunk4ever.com\/blog\/2010\/03\/03\/credit-lines-shrinkage\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Credit Lines Shrinkage&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[274,1156,273,757],"_links":{"self":[{"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/posts\/2230"}],"collection":[{"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/comments?post=2230"}],"version-history":[{"count":0,"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/posts\/2230\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/media?parent=2230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/categories?post=2230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.krunk4ever.com\/blog\/wp-json\/wp\/v2\/tags?post=2230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}