The Credit Crunch become real

[snoopy369]

It stated that the limit is getting cut, but not how much.

"If your credit limit is >500, it will be reduced." != "If your credit limit is >500, it is being reduced to 500." At least one comment below indicated that my interpretation is correct [someone else had a Geico card with >500 limit, and it was reduced by half, but not to 500 or below].

[rah]

Since I rarely carry a balance on any of my cards, every couple of months when I'm paying it off online, I just click that request credit increase button and it gets raised automatically by 500 to 2000 a crack. So if they reduce it, no big deal, since in a few months it will be back up there.

[DanS]

Snoopy: The statement was crystal clear. Consumerist's comprehension of it was wrong. It is merely coincidence that this fellow's limit is now $500.

[snoopy369]

Ah, you thought I was critiquing your statement and not Consumerists... I was unclear on that I meant to say that the headline was not accurate.

[Japher]

Well, if they cut my credit to below what I need to "finance" an airline ticket I guess I'll just go back to kiting checks