Credit Card Lenders Closing Cards Over The Last 30 Days

Have you noticed your credit card account being closed within the last 30 days? Or, your credit limit being cut with a credit card? A new report from CompareCards The results showed that nearly 50 million American credit card holders said they have had their credit limit slashed or their card closed in the past 30 days. Lenders aren’t required to tell customers when their credit limits are lowered. LendingTree analyst Matt Schulz told CBS News that many lenders made their moves in the past month to avert losses if cash-strapped consumers struggle to keep up with payments amid surging U.S. unemployment.  We’ll ask Dr. Cheryl McKeiver about this on Thursday morning during the WDKX Water Cooler. Plus, if you have any other questions feel free to text 678-1039 or call and leave a message.