Ask Terry Questions credit limit

credit limit

By Terry Savage on November 14, 2023 | Credit/Debt

Received letter from Capital One saying the credit limit on my Venture Visa credit card is being lowered to $5000. In essence, the letter and subsequent call to their customer service said, “you aren’t charging enough”. I am 80 years old and don’t charge much on any card (I have a couple of others) but pay every bill on time and in full. My credit score with the agencies is high…over 800. Will this action be seen as a negative by the reporting agencies? Thank you.

Terry Says

No, that won’t be a negative. More and more people will see lower credit limits as delinquencies (of others!) are on the rise. The card issuers are pulling back on available credit.



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