I have credit cards with very high credit limits. I use them for purchases like cars, and other big ticket items. These purchases tend to be infrequent, for obvious reasons. The other day, I received a notice from Citigroup informing me that since I was not using my entire credit limit, the limit would be decreased. I have never had a late payment. My credit score is above excellent.
By reducing my limit, Citigroup is telling me it wants me to do less business with them.
This is exactly the kind of brilliant banking which contributed to Citigroup losing $28 billion in 2008.
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