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If you’ve had your credit line reduced or cut off, you aren’t alone
By Charles Martin | September 30, 2008
Many of my friends and readers with good (720+) ficos have had calls or letters from their credit cards saying that $50gs that was available last night, is no longer. Banks are going after just about the entire market — top tier included — to get back a lot of the money they had on the open market.
My customers are seeing this on those that apply with them for car loans. HARO is sending out numerous reporter requests for people that have been cut off.
If you really think you’ll need the money, take them up on the 3.99% (hopefully with no fee) and put it in your bank for a rainy day. It’s the better solution to scrambling last minute.
Topics: Big biz, Greats in business | No Comments »