Was Your Credit Card Limit Lowered Due To COVID-19? How To Minimize The Damage To Your Financials & Credit

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Credit usage is computed by taking the quantity of credit you’re using and dividing it by the quantity of credit you have access to. If you do discover yourself with an all of a sudden lower credit line on your credit card, there are a few avenues you can take to reduce the damage to your financial health. While you might have seen a drop in available credit on one card, a different company might consider you due for a credit line increase. Something worth getting into the routine of doing even if your credit line hasn’t reduced is examining your credit rating often. A possible remedy to a lower credit line is simply to increase your total quantity of credit available.

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