Multiple readers reached out today that Chase sent them notice that their credit limit has been slashed.
It’s been in the news for a while now that all banks, generally, are slashing credit limits as they seek to limit their debt exposure with the whole COVID-19 crisis. Seems a round of cuts from Chase was just sent out, and I imagine many of you got hit with this. It could hurt your credit, slightly, by having a lower credit line – this will depend on your credit profile; for some, the affect will be miniscule.
Haven’t yet heard anyone who was able to get this repealed upon request. Let us know if you try, but I’d guess it’s a futile endeavor.
