• http://www.quizzle.com Michael Dunn

    It’s pretty sad when your credit card company drops 70% of your credit line and claims it was because of increased inquiries to my credit report and the credit bureau has no clue what these pirates are talking about. Results? a loss in my credit score based on lies told by HSBC. It doesn’t matter what you people say will help your score when these banks are hell bent on destroying hard working, good paying people like myself. Never was even one day late with a payment to ANYBODY.

  • http://yourmoneydrawer.com Bill Rice


    I’m not certain of your specific details, but I know this happened to a lot of good credit people that had home equity lines of credit that were capped during the “great mortgage crisis.” These were popular “piggy-back” loans to marry with mortgages in order to avoid PMI (Private Mortgage Insurance) and allow smaller down payments.

    I know it happened to me. Even with a 720+ credit score they capped home equity lines for their own protection. This is when I discovered the importance of credit utilization to your credit score. A discussion with my bank got them to start reporting the credit line correctly (i.e., the full line not their cap), which fixed the ding on my excellent credit score.

    This just reinforces why it is so important to be very vigilant in reviewing your credit report regularly and not being afraid to talk to your bank.