Credit card companies are slashing people’s credit limits without telling them

ATLANTA, GA — Channel 2 consumer advisor Clark Howard warns that the next time you go to use your credit card it may be declined.

Channel 2 anchor Jorge Estevez and Howard talked about a scary new credit card company trend.

The credit card companies are getting strict because the banks are worried people won’t pay.

“The banks are afraid that a lot of people are going to default on their credit. So, they are without notice cutting your credit off,” Howard says.


Here is how Howard says for you to be prepared:

  • Have at least one additional card from another bank or credit union.
  • Make sure you have credit cards, not store cards.

“It doesn’t matter if you are current on your payments or have a good credit score,” says Howard.