Millennial Money: Why you should increase credit limits now | Health and Fitness

Counting on a credit score restrict in a shaky financial system is the equal of anticipating a weak bridge to climate a storm and carry you to survival.

It’s not unusual for bank card issuers to reduce their threat by reducing credit score limits or closing accounts when there’s potential for financial misery. Bank card issuers took these actions within the Nice Recession and early within the COVID-19 pandemic, based on a 2022 report by the Client Monetary Safety Bureau, maybe attributable to modifications in credit score profiles, inner account efficiency metrics or shifts within the issuer’s threat administration insurance policies.

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