Credit Rating and Retail Line of Credit
Dear Terry,
I received a letter from a major retailer informing me that our credit limit of $35, 000 dollars will be lowered to $2001.00 due to inactivity if not used by a certain date. If I allow this to happen, will my credit rating suffer?
Thank you for your help.
Terry Says
Ha! This is a blatant attempt to get you to do business with them. Not doing business will NOT impact your credit score. And I’m quite sure that if you suddenly needed to charge $2,000 they would reinstate your higher credit limit in a quick minute! Ignore this, but thanks for writing. I hope others will see this and be warned about this new trick to intimidate customers.
