Yes, card issuers can change credit limits and benefits without telling you. Here's what you should know.
holders is that the card will no longer offer 25% more value on points redeemed for airfare, hotels, cruises and car rentals through the ThankYou Travel Center after April 9, 2021.
Reasons for a credit limit decrease may include missed or late payments and/or spending too much or too little on your card. You may also notice credit limit decreases during a recession as banks opt to limit potential losses from cardholders defaulting on their debt. For instance, if you had a $4,000 credit limit and received notice on April 1 that it was reduced to $2,000, you could spend up to $4,000 until May 16 without penalty.Most credit card annual percentage rates vary with the prime rate, which is the best interest rate lenders charge consumers. If you open a variable rate credit card, your interest rate can fluctuate along with the prime rate.
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