I must vent!
With the current economy I am sure that I am not the only person who has received letters about their credit card limits being lowered. However, this practice is making my credit score go haywire and the domino affect has occurred.
I am never late with a payment, always pay more than the minimum, no charge disputes, no bankruptcy, etc... When the credit card industry got in trouble I noticed my credit limits being lowered within maybe a thousand or so of my current balance. We're talking a HUGE decrease in credit line, lets say from
25k (which I always said was nuts) to 4k. This action in decreasing my line, because there is NO comment on the credit report stating the reason why it has been decreased, makes it LOOK as though I have many high balances compared to credit limits that were originally much higher than what is now being reflected. They don't see that originally I had a 25k line on a 3k balance that now has a 4k line!

Any suggestions on how I can handle this? It is not fair that because the companies reduced my credit because of their troubles that it is now reflecting poorly on me! I believe that there should be a notation when they do this that is reflected on the credit report that they lowered the credit lines not due to anything that I did.

Any suggestions would be appreciated.