Why has the bank lowered the credit limit on my card?
Case that Card users The credit You realize that your credit limit has decreased dramatically. Jigsaw that It can cause discomfort and confusionWhy is this change?
I asked for a lot of funds
Let’s remember that Credit institutions such as banks o Sofomes continually analyze the credit behavior of its customers. This means they can Consult Your credit bureau As long as you allow it.
Because of this situation, just in case Many credits requested In various financial institutions, the bank may choose to lower your credit limit to prevent you from becoming indebted You end up scraping all your plastic. Therefore, it is not recommended to request a lot of financing at the same time.
Debt restructuring request
When you have a credit card and Ask one Restructuring Of debt, It is very likely that the bank will reduce your creditworthiness So you can focus on paying Your debts. Although it is possible that over time they will reset your maximum card limit.
Emergencies or emergencies
The pandemic caused by Covid-19 has been one of the main reasons behind the hundreds of credit card users they Limit From credit. This, as a The measure taken by the banks To reduce debt risk.
In general, this reduction in credit lines occurred to customers who Extensions required to comply with payment Of your cards. Despite this procedure, Guide for deviation Modified (IMOR) was 17.93%, with an average of 2.13%.
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