Anyone experiencing this with credit card companies?
Am I possibly being considered somewhat of a credit risk, or is something going on with credit card companies? In the past month the following have happened:
1. In December a card on which I had a $4,000 limit, suddenly was reduced to $1,500.00. When I called to ask why, they said it was because I was not using the limit therefore, it was reduced. This was a credit card with a travel company that gave me direct credits for airlines tickets, car rentals based on how much I charged on the card. I have been using the card constantly for things like gas, groceries, household goods, and paying the balance off monthly. So it is true that these monthly expenses hardly ever topped $2,000 and they have not made one dime of interest off me in the 15 months I have had the card. I have also accumulated a good deal of credits for airline tickets which I had planned to use this summer to visit relatives.
2. I have another credit card with rewards, which has a membership fee of $60.00, but it has been waived every year for the past 5 years I have had the card. This year, they would not waive the fee, no matter who I talked to. When I first had this card, I did carry over small balances month to month (never more than $1,500), but I have not carried over a balance probably in the last 3 years.
My credit score has been fluctuating from month to month, which I attributed to the fluctuating (and sometimes quite high) balance on a 3rd credit card, however I allowed the balance to get high while it was in a 2-year no interest period. I paid it off this January at the end of the no-interest period.
Is this enough to make credit card companies be less accomomdating to me because of a perceived risk? Or are the credit card companies just tightening things because of the current economic situation?
I was thinking of just closing the credit card because they won't waive the fee, however I'm wondering if that would be a bad move given the economic climate. It would leave me with just 2 bank card credit cards, which I could live with, but I wonder if it would put those 2 cards in jeopardy as well?
Any light anyone can shed on this would be greatly appreciated.