Money Divide .com

Are You At Risk of a Credit Limit Rollback?

// March 3rd, 2009 // Credit

Credit limit rollbacks have affected hundreds and even thousands of customers that hold credit card accounts and either have not used the credit cards in a long period of time or have simply neglected to make full payments and find themselves caught in the middle of the minimum monthly payment trap. Credit limit rollbacks are being experienced by many consumers and are an alarming thing when you realize that you don’t have the freedom that you thought you had when you have a look at your credit card statement.

Credit rollbacks are affecting up to ten percent of American Express customers and are coming as a shock. Are you at risk of a credit rollback? Do you currently carry a balance on your credit card? Are you making only the minimum monthly payments to this credit card? If you have suffered a recent decrease in your credit score or fall under these categories than you could be at risk for a credit limit decrease.

To reduce your risk of being tagged for a credit limit rollback consider the following tips:

- Keep your credit rating up by making sure that you are paying all bills on time
- Make sure to pay more than the minimum payment on your credit card
- Be sure to keep your balances under thirty percent of the credit limit
- Make sure that the credit card is repaid on time each month

By following these tips, you should be able to avoid a credit limit back and avoid losing your spending privileges.