Credit Card Limit Lowered Below Credit Limit! (cont'd.)
Guest: credithelp
Post subject: Credit Card Limit Lowered Below Credit Limit!
Credit Expert (100+ Posts)
Posted: Sat Mar 11, 2006 12:15 pm
balance transfer to another card. That will take care of the problem really fast.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
iceman
Posted: Sat Mar 11, 2006 12:21 pm
JaneiR36 wrote:
iceman wrote:
She is the situation where she can't pay it to get it down pass the new credit limit, but she is making the min monthly payment. I believe also her APR is high, I told her to apply with chase, and do a balance transfer. She was receiving pre-approved application with 0 balnce transfer and 0 APR for 1 year.
This sounds like a plan! She should consider talking to MBNA still so that the universal default rate does not kick in (when you're late to one creditor, they report you to the CRAs and everyone else starts to jack your interest rate or deny you credit).
With the 0% cards, this happened with a friend of mine. They had high balances and a couple collection accounts and so I assumed they weren't getting 0% offers. When I told them to seek out such accounts and apply they told me they were actually getting the offers at home! When I had high balances all I ever got was secured card offers. Just goes to show you should never limit what credit options people have.
I will tell her to pulled her credit reports to make sure she will not have that same problem. I agree with you never limit what credit options you made have!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: iceman
Posted: Sat Mar 11, 2006 12:23 pm
credithelp wrote:
balance transfer to another card. That will take care of the problem really fast.
credithelp
I hope this will work for her, I will keep your inform!
Thanks everyone for your advice.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Mar 12, 2006 2:19 am
iceman wrote:
My friend has a credit card from MBNA, and what they did was lowering her credit limit below her credit balance. So they are charging her over the credit limit fees. What is her option as far as resolving this matter?
I understand that they can lower or increase your credit limit, but how can they lowering below you balance, then start charing you over the credit limit fees. When she was not over the credit limit, but because she was not using the card anymore, they chose to lower her limit.
I need some advice so I can give it to her, so she can resolve this issue as soon as possible. Thanks
They "CAN" reduce it to under what you owe
BUT THEY CAN'T CHARGE AN OVER-LIMIT FEE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
Posted: Sun Mar 12, 2006 2:21 am
There are many 0.00% BT offers all over the place
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Credit Card Limit Lowered Below Credit Limit!
Credit Expert (100+ Posts)
Posted: Sat Mar 11, 2006 12:15 pm
balance transfer to another card. That will take care of the problem really fast.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
iceman
Posted: Sat Mar 11, 2006 12:21 pm
JaneiR36 wrote:
iceman wrote:
She is the situation where she can't pay it to get it down pass the new credit limit, but she is making the min monthly payment. I believe also her APR is high, I told her to apply with chase, and do a balance transfer. She was receiving pre-approved application with 0 balnce transfer and 0 APR for 1 year.
This sounds like a plan! She should consider talking to MBNA still so that the universal default rate does not kick in (when you're late to one creditor, they report you to the CRAs and everyone else starts to jack your interest rate or deny you credit).
With the 0% cards, this happened with a friend of mine. They had high balances and a couple collection accounts and so I assumed they weren't getting 0% offers. When I told them to seek out such accounts and apply they told me they were actually getting the offers at home! When I had high balances all I ever got was secured card offers. Just goes to show you should never limit what credit options people have.
I will tell her to pulled her credit reports to make sure she will not have that same problem. I agree with you never limit what credit options you made have!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: iceman
Posted: Sat Mar 11, 2006 12:23 pm
credithelp wrote:
balance transfer to another card. That will take care of the problem really fast.
credithelp
I hope this will work for her, I will keep your inform!
Thanks everyone for your advice.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Mar 12, 2006 2:19 am
iceman wrote:
My friend has a credit card from MBNA, and what they did was lowering her credit limit below her credit balance. So they are charging her over the credit limit fees. What is her option as far as resolving this matter?
I understand that they can lower or increase your credit limit, but how can they lowering below you balance, then start charing you over the credit limit fees. When she was not over the credit limit, but because she was not using the card anymore, they chose to lower her limit.
I need some advice so I can give it to her, so she can resolve this issue as soon as possible. Thanks
They "CAN" reduce it to under what you owe
BUT THEY CAN'T CHARGE AN OVER-LIMIT FEE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
Posted: Sun Mar 12, 2006 2:21 am
There are many 0.00% BT offers all over the place
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 3:31 PM
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