Credit Card Limits & Bankruptcy Reform: Coincidence?

[Proud Liberal Dem]

Has anybody noticed their credit card limits being raised recently? Almost all of the credit card companies that my wife and I do business with except for National City (which was pretty high already) have suddenly raised our credit limits in some cases by $2000 just within this past month I was wondering if this has anything to do with the recent passage of the bankruptcy bill. They tell me in their mailings that they are raising our credit limits because of our "responsible account usage (we pay more than our minimum balance every month and pay on time)" but I have more of a feeling that what they really want to do is encourage more debt spending (which will be harder to get out of now of course). What has everybody else experienced in terms of any recent changes to their credit card limits and does anybody believe that the passage of the bankruptcy reform legislation has anything to do with it? The timing seems rather suspicious to me.

[mhr]

1. Without Jobs - More People Will Become Enslaved With High Credit

eom

[napi21]

2. Chase did raise the limit on my hubby's card just last week.

Same story they gave you..."such a great payment history"!

I try to pay each card off every month, and do, with very few exceptions.

We use the credit card for everything, mainly because the annual summary at the end of the year really gives you a great snapshot of your spending habits, and you don't have to be always worrying about stoping at the damn ATM or carrying a lot of cash.

I don't know that there's a connection between the limits and the new bill though. That same cr card co. has been doing this for YEARS! We just read the notices and laugh, because neither of us could ever imagine maxing out our cards for anything!

[virgdem]

3. Your observation is right on the money...

I personally have not noticed any increases to my 4 cards with small limits, but I suspected that this would happen and it is NO ACCIDENT. I intend to ask my credit card company to put a freeze on the credit limits and not to raise them unless I personally ask for a raise in the limit. That lets me control what the limit is, not what they want to raise it to in order to tempt me to spend more than I want. This new BK bill should be a wake up call to everyone to reign in their Credit Card spending.

[caledesi]

4. Yes...MBNA raised ours to 3K...ironic bec we had just sent them

a letter closing our account. ZERO balance. Thieves!