70M credit cardholders saw limits shrink, cards close during pandemic

CHICAGO (WLS) -- About 70 million credit cardholders saw credit limits shrink or their cards closed all together during the pandemic, according to CompareCards.com.

The lowered limits and closed cards were due to missed payments, inactivity on the cards or hits to consumer's credit scores.

If you don't want your cards to close you should try to avoid going too long without using them, experts advise.

If you are having trouble paying your credit card bills due to the pandemic or a job loss, call the bank to see if they can help you.

RELATED: How to get help if your credit card debt is rising during the coronavirus pandemic

Sometimes, banks will let you miss some payments without having to pay a late fee.

You should also monitor your credit score with one of the three free credit bureaus, experts say.
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