A credit card company does have the right to reduce your credit limit even if you have been paid on time and never been on collection?
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JHntaft
ANSWERS: 1
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Right now, until better regulation of the credit card companies, they can do whatever they want. Did you ask why your limit was reduced? Were you late on a loan or another account? Did they send you any change of terms paperwork? You should call the company and ask to speak to someone. IF the answer is unsatisfactory, cancel the account and let them you you'll take your business elsewhere.
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