credit card limit story

[an]

[quote=Blissful Ignoramus][quote=davelj]This is the price you pay for financial gamesmanship. [/quote]

You’ve got it right here, in a nutshell.
[/quote]
I totally agree with this statement though. That’s why if you want to do things like this and don’t want it to affect your credit, keep the balance to limit ratio to below 30%. If you have $170k in credit limit, getting a $50k in 0% balance transfer wouldn’t affect much.

[alarmclock]

Our Barnes and Noble credit card got cut from $1200 limit to $500 limit, “to better fit our spending profile” (or something similar).

I would say that the letter is a mail merge, where the reason is selected randomly from a list of plausible phrases generated by marketroids.

[alarmclock]

Our Barnes and Noble credit card got cut from $1200 limit to $500 limit, “to better fit our spending profile” (or something similar).

I would say that the letter is a mail merge, where the reason is selected randomly from a list of plausible phrases generated by marketroids.

[alarmclock]

Our Barnes and Noble credit card got cut from $1200 limit to $500 limit, “to better fit our spending profile” (or something similar).

I would say that the letter is a mail merge, where the reason is selected randomly from a list of plausible phrases generated by marketroids.

[alarmclock]

Our Barnes and Noble credit card got cut from $1200 limit to $500 limit, “to better fit our spending profile” (or something similar).

I would say that the letter is a mail merge, where the reason is selected randomly from a list of plausible phrases generated by marketroids.

[alarmclock]

Our Barnes and Noble credit card got cut from $1200 limit to $500 limit, “to better fit our spending profile” (or something similar).

I would say that the letter is a mail merge, where the reason is selected randomly from a list of plausible phrases generated by marketroids.

[scaredyclassic]

my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.

[scaredyclassic]

my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.

[scaredyclassic]

my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.

[scaredyclassic]

my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.

[scaredyclassic]

my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.

[zzz]

[quote] my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.[/quote]

You just answered your own question. You are 1 of millions of people who have credit cards, of course they use mathematical models to predict risk. Credit card companies don’t set your limit based on your assets they don’t know your financial situation. Credit card default is happening and will continue to worsen so the credit card companies are cutting risk.

[zzz]

[quote] my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.[/quote]

You just answered your own question. You are 1 of millions of people who have credit cards, of course they use mathematical models to predict risk. Credit card companies don’t set your limit based on your assets they don’t know your financial situation. Credit card default is happening and will continue to worsen so the credit card companies are cutting risk.

[zzz]

[quote] my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.[/quote]

You just answered your own question. You are 1 of millions of people who have credit cards, of course they use mathematical models to predict risk. Credit card companies don’t set your limit based on your assets they don’t know your financial situation. Credit card default is happening and will continue to worsen so the credit card companies are cutting risk.

[zzz]

[quote] my interest is mainly do credit card companies actually have any idea what the risk really is in the current economy? I’m sure they have all kinds of neat mathematical models based on how things have gone in the past, but I’m wondering whether any of it means a dman now. Maybe they’re just freaking out and cutting limits. But the solution to reducing risk isn’t just to cut everyone’s limit. heck they could cut risk to zero and just close all the accounts. the accounts only have value when they’re open. I have a feeling that the credit card companies actually have no freaking idea whatsoever what the relative risk is on each cardholder. and they are going to get .creamed because of it. i.m not sure risk is knowable in the current environment.[/quote]

You just answered your own question. You are 1 of millions of people who have credit cards, of course they use mathematical models to predict risk. Credit card companies don’t set your limit based on your assets they don’t know your financial situation. Credit card default is happening and will continue to worsen so the credit card companies are cutting risk.

[Author]

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