Can they reduce our credit limit without telling us?
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nance
Apprentice
Joined: 05 Feb 2005
Posts: 4
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 Posted: 01/21/08 - 06:13 Post subject: |
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| My husband and I have one jointly held account at the bank. We like it this way; it enables us to know our financial situation without doing math all night with different bank accounts. But, we recently had some unexpected expenses, and it seems that we cannot solve our problem in near future. In addition to this, the bank reduced our credit limit without telling us. Can we make a complaint to someone or there is nothing we could do? |
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giordano
Apprentice
Joined: 17 Jan 2007
Posts: 5
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| Posted: 02/20/08 - 02:54 Post subject: |
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| It is not unusual for a bank to reduce credit limit, but many people think that it is not professional either. It depends on a policy of individual bank, and there are banks that will inform you of their attention to reduce your credit limit. That is why we should choose our bank very carefully and also try to gather as much information about this as we can. However, you still have a chance; you could insist on a meeting with the bank manager and ask for an answer. If your bank account was in order they should resolve this misunderstanding in your favor. |
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