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thoch5

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can I prevent the cc companies from raising my limitis?
My credit score was excellent and then without asking or telling me they raised my limits which brought my credit score down. I worked really hard to bring up my score and I did not ask to have my limits raised. Do I have a recourse?
Terry Ellen Rieck Hochstetler

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Strange.

Helpful to 2 out of 2 people

Ordinarily credit card companies only raise credit limits after a period of time with good credit usage.  If you have been paying the card in full every month, then they may try tempting you to spend a bit more (because the DO make money on the interest payments).  

I can't understand why your credit score would drop with the higher credit limit.  A higher credit limit gives MORE available credit and you should have a lower usage percentage, which would raise your score, not lower it.

I once had a credit card that kept raising my limit because I came close to maxxing out the card and, because of the interest they were gaining, they raised it so I'd spend more, which I did at that time due to stupidity.  It was a secured card through a questionable bank and my dealings with them ended quite a few years ago.

The trick to a high credit score is having as much credit as possible available, using no more than 20% of it and paying it off as quickly as possible.

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