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


Credit utilization is determined by taking the quantity of credit you’re utilizing and dividing it by the quantity of credit you have access to. If you do discover yourself with a suddenly lower credit line on your credit card, there are a few avenues you can take to decrease the damage to your financial health. While you may have seen a drop in offered credit on one card, a different issuer may consider you due for a credit line boost. Something worth getting into the habit of doing even if your credit line hasn’t reduced is examining your credit score frequently. A possible treatment to a lower credit line is simply to increase your overall amount of credit available.

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