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

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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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