I am a life member of the NRA and have supported their efforts over the years in many ways, including obtaining an NRA visa card issued through the First National Bank of Omaha.  Yesterday I was told my APR was being raised to 16%, a 3.25% increase.  Am I being petty by being a bit ticked off about having to pay even more for those who are not paying their own way or for bank executives that have screwed up by generating a bunch of bad debt they can't collect.  I have never missed a payment, carry a very small balance each month and have an excellent overall credit rating.
Anyone else with an NRA visa card get a greeting like this?

I don't have an NRA Visa Card, but I do have several credit cards.

I am a credit user.  I run them to about half the limit, then pay them down the following month/paycheck.  I've always been of the opinion that, so long as you're responsible, a credit card is safer than cash.

As of late I haven't really been using them at all however except to pay bills here and there.  I just keep a small balance on each for the sake of a higher credit rating.  25% the limit seems to be the sweet spot.  And so long as I turn them over regularly, most if not all the interest charges are non-existent, falling under the grace period.

Recently I got letter for all but two of my credit card providers.  They all dropped my limit to what I currently owed.  When I called each of them of stomp some heads over this, they all had pretty much the same canned response.  "Due to the economy and the changing credit market we are currently scaling back the amount of outstanding credit we offer..." blah blah blah.

Well, that's fine for them.  But here's the rub... whereas before I looked great on the books with a good amount of available credit and very low debt ratio, now I look maxed out.  My nice 814 credit score has subsequently dropped over 100 points to just under 700.

What... the... F?!  I've been nothing but a responsible credit user for almost two decades.  I've never missed a payment, my credit "rap sheet" is green across the board.  And now it's been artificially lowered through no fault of mine.

On one hand, I'm all about every man for himself.  These credit banks are looking out for their bottom line and unfortunately I'm just collateral damage.  Oh well.  Right?

But... on the other hand I am of the opinion that when they gave me the limits they did, we entered into a contract whereby they agree I can borrow a certain amount from them (my credit limit) so long as I hold up my end of the contract by not breaking its terms and defaulting.

I held up my end.  But they have not, and in doing so they have damaged me.  Hmph.  Ticks me right the hell off.  

Oh... and the two that didn't?  Discover and HSBC (under the banner of GM... pfff).


-T.

The visa card from the NRA or any other firm are all the same. 

Cutting your credit limit because they feel like it adversely affects your credit score and does damage you.  This is wrong when the credit card rescinds the credit line that they offer a person and the person has not reneged on their part of the bargain.

I'm afraid that the only option you have is to call up and complain.  If that doesn't do any good, then you can terminate the card and move to another credit card company.  I'd suggest contacting the AG's office or better business bureau. 

Jim

Run my cards up to half their limit?  I couldn't afford that.  That would be around 50K per month for me.  I've got over 100K in open credit with 3 companies.  Bank of America, American Express, and Chase.  None of my rates have increased.  In fact they've decreased as the Fed has dropped their rates.  My credit score is not in the 800's, but mid 700's.

I can understand a company wanting to reduce their credit exposure to you.  It's some formula they use where your total credit limit is not supposed to go over a certain percentage.  i.e. make 100K and they want 20% exposure, your limit is 20K.  If your income drops to 60K, they may reduce your limit to 12K.  But I doubt your income has dropped.  For me, my two big cards have a 40% exposure so if reduce my limit, I understand.  But I'll still make a fuss about it.  I know American Express has a 20% exposure limit for me.  I called them up and they don't want to give me any more credit.  Funny thing is that Bank of America was switching a lot of their cards from Visa to American Express.  I told them know.  Had they gone through with it, I'd have an 80% exposure to Amex.   

And if you can, pay your bill off every month and be sure to get those cash rebate cards.  My cash rebate this last year totaled $900+.  The year before was about $1100.  There's nothing better than getting a rebate check for being responsible.