What to Do if a Credit Card Issuer Lowers Your Credit Limit
Your main option is to ask your issuer to reconsider. But there are also some steps you can take to mitigate the effects of a cut and minimize the risk of future ones.
Gregory Karp
Gregory Karp is a credit cards expert for NerdWallet. He has been a newspaper reporter and editor, authored two personal finance books and created the Spending Smart syndicated newspaper column, which ran from 2003 to 2014. He previously was a reporter at the Chicago Tribune, covering consumer issues, airlines, retail and other business news topics. He has been quoted as a guest expert on all media platforms — from TV, newspapers and magazines to podcasts and blogs — and he has spoken on panels at national conferences. He has won numerous awards, including national recognition from the Society of American Business Editors and Writers. Email: [email protected].
Posts by Gregory Karp:
Mastercard Expands Offers With Digital Brands for World and World Elite Customers
If you have one of the upper-tier Mastercards — dubbed World and World Elite — you might be able to take advantage of new deals the payment network has forged…
Capital One Venture Raises Bonus; Worth $1,400 if You Spend Enough
If you’re looking to stockpile travel rewards for a vacation, now’s a good time to consider the . It’s offering a bonus with a total potential value of $1,400. The…
What Is WebBank and Are Its Credit Cards Right for You?
WebBank is a financial institution that issues credit cards and other financial products largely for brands that aren’t directly in the banking business. It’s similar to Synchrony Bank or Comenity…
What Is a Diners Club Card?
A Diners Club card is like a regular charge card or credit card, with an emphasis on travel — not dining, oddly. The main difference is that, currently, an individual…
What to Know About Chase’s New Policy on ‘Cash-Like Transactions’
Chase is using a new and expanded definition of “cash-like transactions,” which for Chase credit card holders refers to purchases that trigger the penalties of taking a cash advance. Cash…
Citi Flex Plan: What It Is and How It Works
Citi Flex Plan allows cardholders to access their credit card’s line of credit in new ways, besides the usual purchases at stores and online merchants. Cardholders can essentially use their…
Discover Relaunches Balance Transfer Card
» This page is out of date Discover’s balance transfer credit card is now available on multiple online platforms, including NerdWallet. The exclusive offer described below has ended. Discover’s…
Citi Offers New TurboTax Discounts, Ability to Pay With Points
During the pandemic, many credit card issuers are offering creative ways for customers to use their credit card rewards points, which would typically be redeemed for travel in normal times. Through the…
Chase Ultimate Rewards: How the Program Works
Chase Ultimate Rewards® is the name of the points program for Chase’s rewards credit cards. Among points systems, Chase’s program is highly regarded because point values can be relatively high if used strategically…
