Capital One cuts credit limits as millions struggle with income cliff
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Summary
In a statement on Friday, a Capital One spokesperson said the company kept credit limits "significantly above" a customer's highest balance of the last year to make sure people could continue to use the card despite the cut to credit limits. A reduced credit card limit can have a very real effect on consumers by affecting their credit score. "You could also call the issuer of one of your other cards and ask for a credit limit increase to make up for what you lost on the affected one."Consumers should also start using their dormant cards, with Schulz recommending placing a small recurring monthly charge on them, such as a Netflix subscription.
As said here by Aimee Picchi