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 amount of credit you have access to. If you do discover yourself with an unexpectedly 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 offered credit on one card, a various issuer may consider you due for a credit line increase. Something worth getting into the habit of doing even if your credit line hasn’t decreased is checking your credit rating often. A possible remedy to a lower credit line is simply to increase your general quantity of credit available.

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