CW Posted March 22, 2007 Report Share Posted March 22, 2007 I received a credit card from Citi card with a credit limit of 4k.... I made some charges and used it and made the payments. No bad or late pays. they made the offer in october... in january the sent me a letter stating they looked at my credit and must lower my 4k limit to a 1k limit. Can they do this? DO I have any recourse? Pls advise Link to comment Share on other sites More sharing options...
divemedic Posted March 22, 2007 Report Share Posted March 22, 2007 Yes they can, no you don't. Since they did it by pulling your CR, this is an adverse action, and they are required to tell you which CRA it was, and you are entitled to a free report form that CRA Link to comment Share on other sites More sharing options...
hajimon Posted March 22, 2007 Report Share Posted March 22, 2007 contract with a 5x magnifying glass and a telescope you will see clear as day that they can do this.sorry couldnt resist a shot of humor but uncle creditor can do almost anything they want to when u sign and use their cc. Link to comment Share on other sites More sharing options...
CW Posted March 28, 2007 Author Report Share Posted March 28, 2007 Thanks for the info.... I should have known better. Link to comment Share on other sites More sharing options...
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