Surging Credit Card Delinquency Rates are Affecting Credit Limits
While credit card debt and delinquency rates often go hand in hand, overextended credit card accounts may also lead to decreased credit limits. CardRatings’ credit card experts offer tips for minimizing the impact of these possible cuts.
Bad economic conditions coupled with consumer behaviors like overspending and late payments are the leading causes of these decreases.
CardRatings.com, a leading credit card review and comparison site, offers tips for how to minimize the impact of a potential credit line cut and discusses the potential impact this could have on consumers’ credit scores, in their article: How surging credit card delinquency rates can affect credit limits
“Not only could a credit line cut affect a consumer’s purchasing power, but it could also hurt their credit score,” says
Doss is available to discuss credit limit decreases and tips for handling a potential cut.
About CardRatings
CardRatings is owned and operated by
CardRatings innovated online credit card ratings and has been offering independent ratings and reviews of credit card offers since 1998. The website collects and maintains data on more than 800 credit card offers and carefully compiles objective lists of the top credit cards by card type, making it easy for consumers to find the right card to fit their needs.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240625642278/en/
Executive Editor
jdoss@quinstreet.com
Source: CardRatings