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Question By
Pyscean

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Non-re-issue of a revolving line of credit
I have a line of credit that expires at the end of this month and the bank is not going to renew it based on the fact that they feel my credit score is not high enough at this time to support it. I've never had an issue paying way more than my monthly minimum and have managed to pay off four digit charge balances within 6 months of making the initial charge.

I am just wondering how this closure of my line of credit on the "banks request" will affect my credit rating. I'm concerned that this will negatively impact my credit rating.

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Top Contributor
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It will likely affect your rating because you're losing that $ in available credit. Unfortunately it's within the bank's right to do this. The economy has changed and the lending landscape is totally different and continues to change.

Reply by
Pyscean

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It's unfortunate that it will most likely impact my credit negatively since I had no influence on the account being closed.  My payment history is spotless and though I have a lot of debt relative to the card (student loans and a mortgage), I've never had an issue meeting any of those payments.

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