Legal Question in Credit and Debt Law in Florida

Credit Card's breach of contract

If my credit card company reduces my credit limit arbitrarily, do I have the right to withhold payment on the entire amount based on the fact that by truncating me they materially breach their contract with me ,defrauded me, damaged my credit and violated antitrust laws? Can I sue them?


Asked on 12/20/08, 3:25 pm

1 Answer from Attorneys
Angelo Marino Angelo Marino Jr. PA

Re: Credit Card's breach of contract

Not so fast. Read the fine print of your agreement. Credit card agreements are an open account of credit which can change from billing period to billing period. You probaly received notice of the reduced credit in the mail. Your option is to stop using the card or comply.

Sorry, unless your agreement is quite different than most.

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Answered on 12/21/08, 1:56 pm


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