Banks and Credit Card Companies should be regulated even further. When a customer is paying his/her credit cards on time, regardles of it being the minimum payment or not. These entities should not be allowed to randomly lower credit limits when the customer suddenly pays a large part of their credit card debt, this is a penalty and not a reward for a clients good intentions.
Our world revolves around Credit Scores and actions such as the reduction of credit limits should be illegal. If a customer has been paying on a timely basis these entities should not be allowed to decrease the credit limits if this means lowering one's score.
Why is this important?
I would like for Credit Card Companies (banks etc.) to not be able to ruin a person credit rating just because. I have always paid my credit card payments on time, always tried to pay more than the minimum but at the very least I have paid the minimum. Recently I paid, or thought I was paying 2/3 of my balance so I could increase my credit score. Instead I had my credit limit reduced thus my score is still lower than I would like it to be. Due to unprecedented expenses (divorce, legal fees etc.) my credit card balances were high.
