Disabled W. Credit Card ?
I am currently on SSD for a condition that is improving, however i needed to take some cash advances as a result to pay some monthly bills. One of my credit cards had a $20K limit, with $10K limit for cash advances. I was informed today by the bank that issues the card that they were reducing my credit line to $10K, effectively preventing me from taking any more cash advances. I'm nowhere near filing for bankruptcy as i expect to start working part-time soon, and I never missed a payment on this card, so my question is: Is it legal for a bank to reduce the credit line for someone who is officially disabled? If yes, is there someway to appeal this? I live in New York State.
Answer:
AFAIK it is perfectly legal, unless the card agreement says something different.
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