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Originally Posted by Rhino |
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So ... if they notify you the way they say they will in the Terms and Conditions ... giving you the notice they say they will .... they did something wrong?
In all reality, people need a bit of a wake-up anyway. Stop living on credit and buy what they can afford to. Use the credit cards as an interest free bank and pay it off each month.
If it moves people away from the "borrow everything and hope for the best" mentality then it's a good thing. |
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In some cases, the notice didn't come til after they dropped the limit. Also, they seem to be conveniently dropping that limit to a number close to your balance. It would be a different story if your limit was $9k, your balance was $5.8K, and they decided to drop your limit down to $7k. You still have some breathing room to cut back and start paying off your debt.
I basically use (2) credit cards to improve my credit rating.