A question about the credit crunch?

United States
October 9, 2008 4:08pm CST
Do credit card companies have to tell you that they are lowering your credit limits before they do it, or do they do it with you unaware of it?
2 responses
Morbidbabe
@Morbidbabe (511)
• United States
9 Oct 08
They usually do it with you unaware, sometimes they even say that on the agreement policy.
NuclearRabbit
@NuclearRabbit (650)
• United States
9 Oct 08
Oh, that's not good.
Morbidbabe
@Morbidbabe (511)
• United States
9 Oct 08
yup, but it's true
Fafner
@Fafner (68)
• United States
9 Oct 08
Morbidbabe is right. Read your card holders agreement. I expect you can probably find it online if you don't have a copy in your files. Most of them say the card issuer can change the credit limit and the interest rate whenever they want to. Usually these agreements also say the card can be revoked without notice.