Credit Cards

Did anyone get credit limit decrease recently?

  • Last Updated:
  • Aug 28th, 2020 11:49 pm
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[OP]
Deal Guru
Dec 5, 2006
13051 posts
8290 upvotes
Markham

Did anyone get credit limit decrease recently?

Just wondering in this environment, a lot people need credit, especially for certain hard hit groups, do banks still do credit card limit decrease or they paused for now

Thanks
22 replies
Deal Fanatic
User avatar
Jan 4, 2011
5836 posts
7197 upvotes
Montreal
smartie wrote: Just wondering in this environment, a lot people need credit, especially for certain hard hit groups, do banks still do credit card limit decrease or they paused for now

Thanks
There was a thread started here with a similar topic: banks-going-start-re-evaluating-clients ... 9-2364521/ You may find some info there.
Deal Addict
Nov 8, 2017
1556 posts
885 upvotes
I got a limit increase the other day on my rog plat
A whopping 900
Now 4400
#ballar
Deal Fanatic
User avatar
Nov 13, 2010
7607 posts
1681 upvotes
Scarborough
Op did u get a decrease or closure of credit ?
Deal Addict
User avatar
Dec 6, 2017
1687 posts
1144 upvotes
Manitoba
Didn't receive an increase lately but my limits are ridiculously high (against my usage) that I will not need any increase anytime soon.
Member
Sep 4, 2017
490 posts
151 upvotes
Rogers gave me a whooping $500 CLI on top of my $2500.

From $1500>$2500>$3000>?

Wonder what's next in December Face With Tears Of Joy
Deal Addict
Oct 27, 2012
2817 posts
4604 upvotes
Toronto
I got denied for CTFS. Astonished Face

A few weeks before that denial I was given 16K and 7K with CIBC on 2 cards, 11K with BMO. Back in Feb RBC gave me 32K on Avion. I'm a little surprised I haven't had the limit cut on some cards I haven't used in a very long time, like my MBNA with a 30K limit.
Deal Addict
User avatar
May 7, 2019
1467 posts
1283 upvotes
Ontario
ozzie16 wrote: I got denied for CTFS. Astonished Face

A few weeks before that denial I was given 16K and 7K with CIBC on 2 cards, 11K with BMO. Back in Feb RBC gave me 32K on Avion. I'm a little surprised I haven't had the limit cut on some cards I haven't used in a very long time, like my MBNA with a 30K limit.
Geez, that's rough of them.

I guess they've significantly tightened their lending practices with the pandemic.

And to think, you virtually have a Private Banking relationship with Scotia.
.
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@mikka2017, don't feel so bad ... you're not the only one.
.
Preferred cards:

Brim WE . ☁️

CTFS CA and Triangle WE .🔻
[OP]
Deal Guru
Dec 5, 2006
13051 posts
8290 upvotes
Markham
banker8 wrote: Geez, that's rough of them.

I guess they've significantly tightened their lending practices with the pandemic.

And to think, you virtually have a Private Banking relationship with Scotia.
.
.
@mikka2017, don't feel so bad ... you're not the only one.
Yes. I guess they are tightening conditions. Might be secretly very happy he didn't accept offer

Woohoo, another 10 dollar PCL saving lol
Deal Addict
Oct 27, 2012
2817 posts
4604 upvotes
Toronto
banker8 wrote: Geez, that's rough of them.

I guess they've significantly tightened their lending practices with the pandemic.

And to think, you virtually have a Private Banking relationship with Scotia.
.
.
@mikka2017, don't feel so bad ... you're not the only one.
I had a CTFS Cash Advantage years back. Accumulated a huge amount of cashback from it paying off my Scotia PSLOC with it. Stupidly I cancelled it. At the time it was one of my highest CLs.
Deal Addict
User avatar
Sep 14, 2012
2372 posts
1767 upvotes
Montreal, QC
I've never had a credit limit decrease that I didn't initiate on my own on any of my credit cards.

Even with one of my cards which as a $25k credit limit and the most I've ever charged to it within 2 billing cycles is under $5k, they've never decreased my limit.

I have had some non-annual fee credit cards automatically not renewed (and cancelled) due to non-use by the financial institution on their own... sometimes without letting me know that they did this (not that it bothered me since I wasn't using their card). I only found out when I looked at one of my credit cards in my drawer and noticed that it expired and I never received a renewal card. When I called, I was told that they closed my account due to non-use.
Deal Addict
User avatar
May 7, 2019
1467 posts
1283 upvotes
Ontario
ozzie16 wrote: I had a CTFS Cash Advantage years back.
Was this the card you applied for "again", yet got declined?
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ozzie16 wrote: I had a CTFS Cash Advantage years back. Accumulated a huge amount of cashback from it paying off my Scotia PSLOC with it. Stupidly I cancelled it. At the time it was one of my highest CLs.
Ouch.

Not to worry. We all make plenty of mistakes during our lifetime.

Just try to learn from them.
.
Preferred cards:

Brim WE . ☁️

CTFS CA and Triangle WE .🔻
Banned
User avatar
May 7, 2007
13912 posts
5705 upvotes
banker8 wrote: Was this the card you applied for "again", yet got declined?
.


Ouch.

Not to worry. We all make plenty of mistakes during our lifetime.

Just try to learn from them.
Hey banker,

Are you OKAY?

This was your last public post on RFD ... and this was on August 8 ...

Since then (on August 8 also actually) I PM'ed you about something ... and noticed you didn't even read my PM ... NOR you posted publicly at the forum here (after being quite active, posting many posts publicly every day) since then ... and now it's already August 28 -- so it's been 20 days since.

Are you OK?
[OP]
Deal Guru
Dec 5, 2006
13051 posts
8290 upvotes
Markham
Darkman wrote: Hey banker,

Are you OKAY?

This was your last public post on RFD ... and this was on August 8 ...

Since then (on August 8 also actually) I PM'ed you about something ... and noticed you didn't even read my PM ... NOR you posted publicly at the forum here (after being quite active, posting many posts publicly every day) since then ... and now it's already August 28 -- so it's been 20 days since.

Are you OK?
Lol

He is counting bonus now and will get back to you soon
Banned
User avatar
May 7, 2007
13912 posts
5705 upvotes
smartie wrote: Lol

He is counting bonus now and will get back to you soon
Not funny if something happened to him.

20 days not being at forum, where you generally posts daily ... and always active ... is quite a long time.
Deal Addict
Feb 17, 2015
1090 posts
422 upvotes
Windsor, ON
Despite being on a CERB break for 2 months and my bank knowing about it, new mortgage approved, decent limit infinite visa approved, CLIs offered on 3 of my cards, some small balances on low interest CCs under 5K plan to pay off in 12 months, thought I might meet the same fate for having 11 cards and a bunch of new accounts but I guess not, would I complain if they reduced any of them....not really
Deal Addict
Feb 10, 2018
1726 posts
1156 upvotes
Darkman wrote: Hey banker,

Are you OKAY?

This was your last public post on RFD ... and this was on August 8 ...

Since then (on August 8 also actually) I PM'ed you about something ... and noticed you didn't even read my PM ... NOR you posted publicly at the forum here (after being quite active, posting many posts publicly every day) since then ... and now it's already August 28 -- so it's been 20 days since.

Are you OK?
Perhaps you can use Darkman powers and get Ace604 to come back.
Banned
User avatar
May 7, 2007
13912 posts
5705 upvotes
Ya ... that's what I meant ...

Ace was so active and helpful ... and then just disappeared ... totally.

You never know ... bad things can happen to any of us ... we are not immune to life's bad things, health issues etc.

P.S.

The good thing, maybe, looks like Banker did read my PM now ... (if am not mistaken) ... and if so he must be okay :)

He hasn't replied back to me though, lol ... yet :)
.
Last edited by Darkman on Aug 28th, 2020 11:38 pm, edited 2 times in total.
Banned
User avatar
May 7, 2007
13912 posts
5705 upvotes
smartie wrote: Who is @ace604 and what made him famous
Totally absent from RFD (at very least) for over 3 years now .....


ace604
Deal Guru
Member since Aug 9, 2012
Last seen Aug 19, 2017 12:07 PM
BC

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