Morgan Stanley

l4ng3r

Hi all was hoping someone could put my mind at rest....

I have just received a letter from Morgan Stanley re an account I cleared a while back and have kept on as an emergency but have never used the card since. The letter states they have viewed my credit file and have immediately dropped my credit limit substantially.

Should this worry me, my income etc is way better than it was when I originally applied for the card and I just recently ran a credit report which showed no obvious black marks.

I think this may be related to the whole credit situation as I seem to remember an article about people with extremely good credit ratings having limits etc dropped but just wondered if anyone else had seen a similar letter?

cheers

NickX

This is a fairly regular occurrance with the current credit crunch.

Banks are trying to reduce their exposure to risk and have reduced your facility for the simple reason that you appear not to be using it. By doing this it means one less customer with the potential to max their card out.

Its nothing really for you to worry about unless you want to use the facility in which case I would call them up and ask them politely to re-instate the original limit.