sorry to rant, first off..
So my wife and i have a a few (a total of 3 HSBC credit cards) and we have relatively small balances on them (less than 2400) about 30% of the total available credit. I get an email alert last night about the balance being within 1000 of my limit on my card. Needless to say I am totally freaked because the card has like 1200 on it and the limit is 4000.
I call thinking that someone has fraudulently used the card or something and while on hold I log into the account on line...they lowered the limit so much that it took me to ove 90% use to available credit ratio! This is really bad because this will DRASTICALLY effect my fico and then all the other people will raid their rates on me...I am so pissed at this because I have NEVER been late, always paid over and have had this card for a long time (like 5 years) I spent 2+ hours on the phone and was basically blown off by non english speakers
The fico score will drop now because it will artificaly look like i am maxing my credut out, this was a deliberate malicious act i think and short of closing it, what can i do? (i won't close it till it is at a 0 balance)
I don't need lectures about how i should not carry balances...i used the cards to do work on my house that was wrecked by a builder who ripped me off. (we are slowly pulling all our debt from the house debacle down and have less than 8000 left)I have some $ saved up, but i am NOT gonna use that for this in case i have job loss...this just pisses me off