Over the last few months, everyone of my credit card companies have lowered my credit limit. I had a 740 credit score and over the last six months it has dropped to 575. I had not had any late payments at all, i use all of my cards...none had high balance...but do carry balances. Now, everytime I use a card, i get letter saying they lowered my credit limit and i am maxed out. Im talking six or more credit cards....it is killing me. I leased our cars and i have to turn them in in january. I will not be able to get another lease or buy a car with that credit score. I dont know what to do. I have no late payments, no collections, i have a great job, own my home....and i have a credit score of 575??? Any suggestions?
You need to pull your credit reports from the three credit reporting agencies and see what's on them. You can pull those reports absolutely free once a year. The credit reporting companies are Experian, Transunion and Equifax. Contact numbers are: