Why American Express lowered my card’s limit even though I have a credit score of 836 — and what I could have done to avoid it

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  I recently received a letter from American Express telling me that it reduced the credit limit on one of my cards because there hadn’t been much activity on my account over the last year. A lowered credit limit can have a negative impact on your credit utilization ratio, which accounts for 30% of your credit score.  Credit card companies may lower credit limits if you haven’t used your card for a while, or if your credit score suddenly drops. And in the face of COVID-19, some banks have
 begun cutting credit limits to minimize their risk. To

Read more    Source: businessinsider.com

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