Skip to main content

What to Do if Your Credit Card Limits Are Lowered (& How to Avoid Closure)





Credit card companies are closing accounts and cutting limits - you can try to avoid this by using any credit cards that you've left inactive and if they DO decrease your limit, get on the phone with them immediately. Most of the time they will reverse or partially raise your limits again. What you want to understand is that the available credit is the 2nd most important when it comes to your credit score. This means that if the creditor lowers your limit from $2000 to $1000 and you have a balance of $500, your utilization goes from 25% to 50% immediately and your score will reflect this as well.

How to lower your risk: credit sweep to remove negative items and use inactive credit cards to avoid closure and then lastly, to protect yourself: pay down balances to decrease utilization.

Join the free inquiry removal webinar Wednesday 5/6/20 at 5pm PST. Go to https://onlinenewsletters.net/neu02/ to drop your email to get signed up.

Want to hand over the burden to an expert? Get a free consultation at https://live.vcita.com/site/expertcreditsweeps

Comments

Post a Comment

Popular posts from this blog

Tips for my brokers; Craigslist, Facebook, websites, advertising and more!

I work 90% with brokers, 10% with clients, and I actually prefer to work with brokers, as I have contact with only one person instead of 300 clients. So considering there are 528 of you brokers, I figured that I would post some tips and tricks for my brokers. I will break it down into sections to make it easier reading, and if you have any questions, comments or suggestions, let me know! Advertising Advertising can be a serious pain in the butt, and it is utterly necessary for a business like this one. I will give you a couple of suggestions that work for me. I am mostly just word of mouth now and do not need to advertise, as I have thousands of clients, but there are days when I do put my business out there again for new clients. Craigslist It is quite difficult to advertise with CL now, but there are tons of ways to get around being flagged or to prevent it from happening. CL is the 4th most visited site in the  world , so that right there should tell you that you need to
Post a Comment
Read more

3 Resons why you should wait to apply for new credit

Applying for new credit before all derogatory items are deleted: My advice to my clients is always the same: wait until you're done with your credit repair or credit sweep program, but have a strategy to move forward from there. Here's a few reasons why: #1 you may be denied if you still have 1-2 items remaning and will end up with new inquiries that will drop your score #2 it may hinder the process of removing the last few items and can add 1-3 months to the timeframe #3 you may be approved with a very low limit and would have to wait 3-5 months prior to requesting an increase. In comparison, you can wait til everything has been completed and obtain a higher limit right off the bat. Here's a real-life example: I have a client would only has 4/86 negative items remaining and he wanted to move forward with his mortgage. I advised him to wait because (see #1) it would add inquiries and he may not be approved. He'd mentioned tha
Post a Comment
Read more

How to Lower Debt to Income Ratio Without Paying a Dime (Mortgage Loan)

If you want to get approved for a higher mortgage loan amount and lower your debt to income ration without paying anything, watch this video! If you would like to get a free credit sweep consultation head to https://my740.com. You can learn how to legally and permanently remove negative items from credit reports with confidence at https://sendmeto.co/steroids. Client results playlist https://www.youtube.com/playlist?list=PLCkW-fTkIGnxOdGjZrudHSn-ygbYuWuQO Violations video 1 https://www.youtube.com/watch?v=fMOe-xaGW-0 Violations video 2 https://www.youtube.com/watch?v=woZS_VI-Pts Links: Credit repair course on steroids: https:/sendmeto.co/steroids Guaranteed Deletion Debt Validation Dispute Method: https://sendmeto.co/vod2 EvolutionLine Method Workshop: link coming soon Dispute Funnel Workshop: link coming soon All courses: https://sendmeto.co/courses Live Automation: https://sendmeto.co/auto Credit Sweep Secrets Playbook: https://sendmeto.co/getmycheatsheet Advanced Credit Sweep Ta
Post a Comment
Read more