In the last ten days I’ve received two letters from two of my three credit card companies. The first stated that since I don’t use my card and haven’t done so in more than twelve months, and since they had “re-evaluated” my employment situation (I’m self-employed) that they were cancelling my credit card.
Then yesterday AmEx sent me a letter stating that they had reviewed my situation (I’m guessing this is a popular thing to do now) and had decided that they were reducing my available credit by 20%. Again, okay by me since I’ve never been anywhere close to the credit limit. I guess they don’t want me to get anywhere near it, anyway.
Anyone else noticing things like this?
Let me state that I am not behind on anything. Nor has my income declined. Nor have I had any trouble at all in years and years and years and years. (I was not so good in my twenties.) My guess is that “my employment situation” isn’t popular right now with credit companies. A self-employed real estate guy has to be a little scary to them.
Yet, 45 days ago I signed a rather large loan with a local bank here during the height of the credit crisis news cycles and they barely even asked me to explain myself. Just “how much do you need” and it was ready days later. Now this money is for a non-real estate related business I also have. So I have to believe it’s the self-employed real estate agent thing on the credit apps and credit company reports that has them leery.
Just a guess, anyway.