Comments on: I Pay On Time, Spend Big Money – Now You’re Lowering My Credit Limit?

By: niki

niki — Sat, 20 Aug 2011 18:34:02 +0000

ooops….What about keeping good, regular, higher than minimum payers ‘”shored up”.

By: niki

niki — Sat, 20 Aug 2011 18:32:32 +0000

Hello Everyone now I know this is much BIGGER than I imagined. In Sept of 2008 my fico was 748 and climbng. Suddenly got my monthly AmEx statement with my limit lowered from 30,000 to a ridiculous 2800 (no letter with 30 days notice nothing). After 45 minutes on the phone with now Risk Dept instead of regular customer service. since when did we all become risk (since the creditor lowered the limits). there was about 3500 of 30000 use on card. BoA, AmEx, HSBC and GE, etc all got bail-outs. They were “shored up” to preserve the US economics from crashing completely. What about keeping good, regular, higher than minimum payers ‘”hored up”.

By: Sheila

Sheila — Sat, 09 Oct 2010 03:02:09 +0000

I was issued a Belk card by GE Moneybank last November. The card had a $750 limit. I have used the card several times and payed the card off several times, all payments were on time and way over minimum. Was planning on doing all my Christmas shopping again at Belk this year. However, I received a letter in the mail today October 8, 2010 stating that my limit has been reduced to $100 , seriously what kind of game are they playing. It makes me feel like I have done something wrong. Sorry, Belk don’t guess you will receive anymore sales from me. Guess I will have to shop other places and use my Visa, too aggravated to shop Belk. Going to contact Customer Service tomorrow or Monday and cancel card. I don’t want the debt to limit affecting my credit.GRRRRRR

By: Rick

Rick — Tue, 01 Jun 2010 00:01:35 +0000

You bet it has. The worse part was I had used my card to pay a deposit for a trip for a group. They had paid me cash, I paid down my card to pay the deposit on the card. Two days later I went to pay the deposit only to see they lowered my limit by the $900 I had paid. So now I no longer had the the $900 and could not make the payment for the deposit. I am about to take a trip, and need the cc for the rental car etc, I am totally paranoid to pay it down only to get 1300 miles from home and find out my card has been declined. This situation really stinks, and we the consumer are left to scratch our heads while the cc companies ruin our lives!