Business Credit

[dockeryfan]

Has anyone randomly had their credit reduced? It's such BS that my business credit lines were both reduced. I have never made a late payment, have impeccable credit both personally, and through my businesses, and Chase just decided to reduce the credit lines, for no other reason than to change the liability on some bank's books.

Credit is there for the "what if". It's just annoying...

[twa]

for no other reason than to change the liability on some bank's books.

Seems a decent reason in their;) position,you restrict yourself to Chase?

[techboy]

It's currently a trend, for both business and personal lines, at many credit card companies in general, and Chase in particular. American Express is another that's been getting out the axe.

As twa noted, it's mostly about their reassessment of exposure levels, and not really much to do with the holder personally at all, usually.

The worst stories I've heard are the people that have balances near the max, who pay the card to attempt to improve credit scores, only to see Chase hack off the limit as the card is paid down, leaving the cards still nearly maxed out.

[el gorilla]

I don't like chase when it comes to business credit. I much prefer to do a credit line through the bank I use. But than again I have no balances and I haven't had the need to use the cards. The only "credit" I am paying back, if you wan't to call it that, is a cash advance from the credit card merchant my mother got a while back when my brothers pocketed money from our restaurant.

I do not recommend anyone do this when the pay back is half of what you barrowed. Thankfully it'll be payed off in about 2 months.