I have a question about credit cards. is this legal?

i was just told that my credit line was lowered for my amazon card because i had accounts from other companies that were in collections. is that allowed? are my accounts with other companies their business, and is this legal?


0|0
2|8

Most Helpful Guy

  • if same as UK yes, they share information as they see fit, can alter credit card agreements with notice, cancel contract terms with notice, pretty much as long as notice is given anything

    0|0
    0|0
    • 15d

      that's really f*cked up. i don't see how my other accounts would be any of amazon's business.

What Guys Said 7

  • Of course it's legal.

    Imagine you promised to lend some money to a friend to buy some books. Then you find out that same friend had borrowed money from all your other friends and didn't pay them back. You'd cut your friend off too.

    1|0
    0|0
  • It is their money, not yours. They are not required to loan it to you. Frankly I'm surprised they wouldn't cancel your card altogether when you have accounts in collection.

    0|0
    1|0
  • It is legal. Companies can even go so far as to repossess their secured interest if they have a good faith belief that you accounts are insecure. Credit cards are unsecured, but yup, they can lower your limits and perhaps even increase rates, depending on the language in the contract.

    0|0
    0|0
  • Probably, they've got a shitload od legal ways to fuck us over

    0|0
    0|0
    • 15d

      i was trying to find information on it, because that has never happened to me before. that doesn't sound like it would be any of amazon's business.

  • It is legal, and they could actually close your account completely if they want to.

    0|0
    0|0
  • Yes, its part of your credit history and its how they base your credit limit

    0|0
    0|0
  • it's their money you're borrowing so they can do whatever they want with your credit line.

    0|0
    0|0

What Girls Said 2

  • Yes. If you have too much debt or a low credit score and they feel like you can't or won't pay them back, they can do whatever they want with your credit line. You should focus more on paying down your debts than purchasing anything more on credit cards.

    0|0
    0|0
  • yes, its legal and it happens all the time

    0|0
    0|0
Loading...