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Can a bank/credit card reduce your credit limit to below your balance while you have that balance?
Can a bank/credit card reduce your credit limit to below your balance while you have that balance? Let's say somebody has a credit limit of $9,000 on a card. They borrow $7,500 by spending with the credit card. They pay their bills on time. However they have less income than when the original credit limit was approved. The bank determines based on their income or lack of income, the credit limit should be $5,000. Is there any worry that the...
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