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Why Did My Credit Limit Get Slashed?!

Where you shop, work and live could determine whether your credit limit is reduced — or if your account is even closed.

Credit card lawBecause of the recession, 6.5% of all credit card accounts are at least 30 days late.

So the credit card companies are running all the personal data they have through computer programs in an effort to spot customers who might be the next to fall on hard times and default on their payments.

It’s called data profiling, and if you look susceptible, they’ll whack your credit. MORE

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