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My $100 annual fee card was fine until they cut my credit limit in half
I used to think paying a $100 annual fee for travel points was smart, but after Capital One dropped my limit from $8,000 to $4,000 last month without warning, my utilization shot up and my score took a 30 point hit. Now I'm leaning toward a no-fee card with a simple cash back rate, even if it means losing the lounge access I rarely used. Has anyone else had a bank reduce their limit out of nowhere and which side do you land on, fee cards or free ones?
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jadej501mo ago
Did they give you any reason for the cut? Same thing happened to me with Chase last year, only mine went from 10k to 5k with zero heads up. I dumped the fee card and went with a free cash back one, and honestly my score bounced back faster than I expected once I paid down the balance.
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