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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm not sure what your question is, but yes, banks can lower credit lines or cancel cards particularly if the economy is bad. I think banks are doing this currently. I just received a letter from one of my credit cards saying the limit was being cut in half. I've had the card for 15+ years and have an 800+ credit score. The credit line was $25k and I probably charge about $500 per month and pay it off. Banks are looking for ways to reduce their risks.[/quote]

OP. I thought I was pretty clear..

My question is, if credit cards can cancel when income drops what happens in retirement or in early retirement? [/quote]
No. The reason is that you will probably have higher NW as you are nearing retirement. I barely work, but there are companies I don't even use that know about the balances of my accounts. So do the scammers. The amount of offers and calls I get (mostly from Florida) is getting on my nerves. My own cc companies also know about my account balances and they like what they see a lot more than a job I may lose any day. 
That said, the companies can close your accounts and lower or raise credit lines any time for whatever reason.
[b]Are you planning to charge them up a week before you die?
[/b][/quote]

Unless I plan on moving overseas for good, that won't work. :-)

The question triggered because I came across a very active thread on Reddit about Amex cancelling cards, in a few cases, of people who have been members for years. Sometimes there seems to be no reason and in other cases it was associated with a loss of income so i was wondering what happens when income stops but my payment habits (on time) continues.. [b]Will they still cancel the card?[/b]
[/quote]

Almost surely no.  There is a list of about 100 things I would worry more about with retirement than this.[/quote]

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