Destroying my credit rating
Let me Begin by saying that I've been a customer with them for more than 20 years and that the last two months I have had bills of 7K and 5K that I completely paid off. however I was one day late with my credit card payment and they slashed my overall credit limit in half. I called all of them to complain and get the escalating it and have been told I have to wait at least 3 to 6 months and then if I continue to have an excellent record of payment, that I can then request a credit increase. in the meantime my FICO score is going to go into the toilet because my credit did that ratio is going to skyrocket.
Has this happened to anyone else and what can I do to get my credit limit set back to what it used to be?