JD in Pennsylvania said: “I had a $6500 limit on a Direct Rewards Mastercard. Had the card for about 3 years. Never late on a payment. I took advantage of a 2.9% interest rate on cash advance of $2000 in August 08 and had an additional $500-$600 of charges . I used the card often $200-$300 charges per month. I would typically make large monthly payments $300-$500 and I would often make multiple payments. I never went over 50% credit used. I lost my job in Dec 08 so I started making much smaller monthly payments $75-$100. Anyway, in Mar 09 HSBC reduced my credit limit to $50 over my outstanding balance which was about $2900. They must be using some type of software that flags you in some way. I guess a perfect payment history means nothing.”
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