...The rising concern about credit came as more households faced difficulties paying their mortgage or rent than at any time since the mid-1990s. Reports that unsecured debts - such as on credit cards or through overdrafts - were a "heavy burden" on consumers also reached record levels...
...
They want to reduce the exposure to CC debt, just in case. This is just the beginning
.
I wonder how that will affect credit scores. showing they closed the account
Thanks for the infoUnfortunately it will. But not just by showing a closed account.
They calculate the credit risk ratio of your debt by calculating the total credit limit (all possible credits) and the total debt (all accounts again). Reducing the available credit will increase your ratio. You can try to appeal it if you had a good standing with them, just not sure if it would work with them.
.
Since it said vendor relationships, I would think that it would have been a card similar to Chase backing the WDW cards. Was this a card through Capital One that said maybe Best Buy or Walmart, etc on it? If so, they are terminating their relationship with that company and have to cancel the cards with those names on them.
Unfortunately it will. But not just by showing a closed account.
They calculate the credit risk ratio of your debt by calculating the total credit limit (all possible credits) and the total debt (all accounts again). Reducing the available credit will increase your ratio. You can try to appeal it if you had a good standing with them, just not sure if it would work with them.
.
Unfortunately it will. But not just by showing a closed account.
They calculate the credit risk ratio of your debt by calculating the total credit limit (all possible credits) and the total debt (all accounts again). Reducing the available credit will increase your ratio. You can try to appeal it if you had a good standing with them, just not sure if it would work with them.
.