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 find yourself with an all of a sudden lower credit line on your credit card, there are a couple of opportunities you can take to decrease 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 boost. Something worth getting into the routine of doing even if your credit line hasn’t decreased is checking your credit rating often. A possible solution to a lower credit line is just to increase your total amount of credit offered.

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