You may have found that your credit card limit has been cut recently, even though you made your monthly credit card payments regularly & on time.
To tackle this issue, you might be tempted to reduce your monthly payment a little. Why? To free up money to help pay for things you may have put on the card.
However, this will take you longer to pay off the balance & so cost you more in interest ! Find out exactly how much more, by using this credit card calculator.
One solution could be to clear your credit card balance with a loan. And keep the “reduced limit” credit card for emergencies?
So, if you get your credit card limit cut, you might want to check out what sort of low cost loan you could get with an ethical not-for-profit lender like us – it only takes a few minutes!