PSA in entirely personal capacity: if you are a small business with a credit line and you think you may need it, you may want to draw in advance of need to maintain optionality. Some lenders are actively reducing their books due to the perception that credit quality is impaired.
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An insurance policy that only works when you don't need it.
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I think it’s easy to take sideswipes like that but they were willing to do the line of credit when eight banks in two countries were not, and it paid an employee when revenues wouldn’t, and allowed me to grow and sell the business. I don’t begrudge them the decision.
End of conversation
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Where is this bank located? Federally regulated banks, and many state-regulated, in the US are decidedly NOT supposed to be doing that—in fact the opposite.
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Not a bank.
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We had a $50k line reduced to $2.5k this week!
Wasn’t planning on using it, but amazed at how quickly they pulled it.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Anecdotal, but my CC issuers were each physical mailing me weekly touting balance-transfer-to-checking w/ 8-18 mo 0% APR offers until 3 weeks ago. Those offers now seem to be off the website entirely.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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