Re: Credit card paydown and credit limit

>How long was
>the card maxxed out?  Perhaps the payment amount and credit reduction
>were a coincidence.
>

The one thing a credit issuer does NOT want you to do is to declare bankruptcy.
 So oftentimes they will string you along by setting the credit limit just a
little bit higher than your outstanding balance.  That way you keep making
small payments every month and perhaps even make a few purchases now and then. 
When a lump sum comes in, it is perfectly legal for them to lower your credit
limit to just above the new oustanding balance.


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Tim Horrigan <[EMAIL PROTECTED]>
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