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Credit Limit Reductions - AMX, MBNA
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Posted by Terrass604 (12.19.97.166) on March 21, 2003 at 09:39:21:
I was just notified by AMX and MBNA that they have reduced my existing credit limits. I have always paid exactly on time and usually double the minimum amount due. Since I have had the cards, I have opened up several other accounts and each one of them have been paid without a hitch. MBNA customer service rep stated thay they have changed the limit because they do not agree with my spending habits and 'do not trust my judgement'. I typically run a maximum of 70% or any credit card, leaving a reserve for 'what ifs'. They also believed my total debt was too high for my income, even though they admitted they did not know what my income was.
Has anyone else had this happen to them? I am shelving both cards until paid off and will cancel both accounts then. I use the cards for emergency funds for trips, in case I lose my primary card, and now they have no value for that and I can never trust them to lower the limit again while I am on a trip.
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