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Reply to "Is this credit 101?"
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[quote=Anonymous]Banks will do these things on new accounts because it appears to the actuaries who track this to be a form of credit "churning". that is customers (actually fraudsters) who use significant amounts of their available credit and thenpay it off early. The risk to the bank is automatic credit line increases that these people then fully use the limit and walk away. You can avoid this by either paying too much on the card in anticipation of a large purchase, or calling the bank and notifying them of what yo are about to do. This isn't "credit 101", but it is common. Your credit will rebound quickly and you can expect monthly unexplainable fluctuations. Not to worry, it will stabilize over time.[/quote]
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