credit limit revoked

Submitted by Anonymous (not verified) on Fri, 04/02/2010 - 03:53
Forums
Credit repair

Hello,

I had my credit limit revoked for one of my credit cards last months. So, now I have a credit limit of 0, and will have to apply for new credit card. I want to know, what are my options now? and how will "credit limit revoked" affect my credit? I did ask the company if this was a "charged off" account. They said that it was not a charge-off.

Please help.

Aaron

Hi Mathews,

Can you tell me whether or not you asked the reason for this? Credit limit can get revoked for many reasons. If you gave any false information on your financial details, your credit limit may get revoked.Even if you exceed your credit limit, your credit limit can get revoked.

In this situation what you can do is convert the line of credit to that of a standard loan. However, it is better to discuss this with the company.

Hope this helps.

Regards,

Aaron

Fri, 04/02/2010 - 06:51 Permalink
equistar

Make your remain payments with that credit card and get your credit limit back, from your description I think this is the reason why your credit limit has been revoked.

Fri, 04/02/2010 - 14:24 Permalink