Flashes of Panic

Today’s mail included a notice from one of my credit card issuers, telling me they have “adjusted” my credit limit based on “the way [I] have historically used [my] account”. (All previous noticed about my credit limit were explicit about how they had “raised” my limit, so I am forced to conclude that “adjusted” is bank double-speak for “lowered.”)

The new credit limit, approximately half the previous limit (sound familiar? Same lender) is still 15 to 20 times more than I generally use the card for in a given month. I can still buy a car with the credit card, just not as ridiculous a car as before. Put another way, this new credit limit is more appropriate than the last one… so what business did they have offering me the previous amount of credit?

As another victim put it,

It’s kind of emotionally painful to be told that yesterday you were considered dependable to pay back up to X$, but today you’re only good for 0.5X$, for no reason. …

But what pisses me off the most is that a few months ago, when the bank itself was having a spot of financial trouble, and needed a loan to hold them over, I sent them $146.92. I did, and so did every other living U.S. citizen. That was money I really could’ve used for something else. They haven’t paid me back for that yet, and I kind of doubt they ever will. So they really have a lot of nerve, after taking my helping hand, to write me a letter saying they’re cutting my credit.