5/20/2009

Cireone, you're right. The BB Mastercard is considered a "blended" product because HSBC doesn't have full rights to the card, some of it belongs to Best Buy.

I guess the BestBuy MC is considered a "blended product" due to the fact that you accumulate reward zone points and the fact that its co-branded.

Eric, HSBC consolidates also. I don't know what their restrictions are though because I tried combining my Orchard Bank and Best Buy RZ Mastercard and they refused because they claimed that the BB RZ MC was a "blended product." I talked to about 5-6 different managers and they all said the same thing so I guess it's true.

smcc, I like the suggestion that you made where a consumer should transfer a portion of their limit from a card with a high limit to another card with a lower limit. The thing is, only BOA allows you to do that. I have not heard any other banks that allow this. Please correct me if I am wrong.

Cap1 will also consolidate...I wish HSBC would of course I never asked either

They are holding back just like we are.

I asked BOA for an increase online for my 3 month old BOA AMEX from $1,500 to $3,000 and they declined it.

I nearly maxed out my card intentionally and paid it off in full but still no luck.

your right HJM331, for all of us who are making our payments on time or digging even deeper and paying more than the minimum and for everyone else who might be behind but are working through to make things right there should be some light at the end of the tunnel. But like the saying goes, "this too shall pass"

Once the economy gets better, consumers who have had made on-time payments during the depression should be rewarded with a CLI.

This is true so for all of us we must be very mindful of our credit balances. And to make sure we PIF at the end of the month or pay at least half the balance.

I just don't want anyone to lose the credit limits they have worked so hard for. We all have done everything right to reach whatever limit we have and to all of a sudden lose it be cause of hard times just isn't right not to mention lowering your credit score.

This is a must read

http://www.usatoday.com/money/perfi/credit/2008-06-28-credit-card-limits_N.htm?loc=interstitialskip

For everyone whose utilization is around 40% think about transferring some of your limit to another card with your financial institution. For those whose utilization is very low, something to think about

Very interesting read and it really opened my eyes even more

"companies must notify cardholders at least 15 days in advance before making changes in the terms of their account, such as lowering the credit limit."

I wonder if this is something new... Or if some creditors just didnt notify their cardmembers ahead of time...

Well if they are supposed to do that then how come people have found out their CC were decreased while they were on vacation

There must be a way that all of us can save our CC limit. I know on occasion that BOA will give you a line of credit up to the limit of your credit card. I don't know that the line of credit will decrease if your limit is decreased.

Here is a good question, lets say you have a high limit at your financial institution, never been late, always paid more than the minimum, kept your hard hits to maybe 1 or 2 a year. Will the bank work with you to keep your limit if you have shown less than 5% utilization since you been issued the card?

Does this also apply to CC's issued to business? There has to be a workaround!

Carry balances on more than 1 card is hard because of all the due dates you have to remember and that increases the chances of having a late payment or two. I'm working very hard to increase my limit on my BOA Worldpoints Visa so that I will be able to use it for all of my charges and I would only have to remember one due date and one payment.