LeslieR Posted November 14, 2008 Report Share Posted November 14, 2008 So I have had my Chevron card for over two years now. I pay it off every month and never charge more than about $150 a month. I have NEVER paid it late. Last month, i actually goofed and paid it twice and had a credit balance! Then I took a road trip and got it back up there to a balance of $141.Tonight, I go to use this card (which has a CLI of $800) and it's declined! I call and am told my CL has been cut to $100!!! But as a "courtesy," I'm not being charged an overlimit fee for the $41.BEWARE if you have a Chevron card. I was told that the letter informing me of this went out on 11/11.PS: A little additional info. = All three of my scores are 700+. My util is a little higher than usual right now on two cards due to my recent move. Link to comment Share on other sites More sharing options...
jq26 Posted November 14, 2008 Report Share Posted November 14, 2008 Hey Leslie,That really sucks they did that. The banks are being irrational right now because they are in survivial mode. My guess is that the quality of their credit pool has been deteriorating and they're taking sweeping across the board action to limit potential losses. You just got caught up in it...I'd say maybe best to pay it off and permanently sockdrawer it.Is it a rewards card? If not, and you have such great scores now, then maybe you can get a cash rebate card or frequent flier miles card. Link to comment Share on other sites More sharing options...
Krash Posted November 14, 2008 Report Share Posted November 14, 2008 this doesn't suprise me, comming from these a holes!!!!!!! They are just like HSBC Link to comment Share on other sites More sharing options...
MissSilence Posted November 14, 2008 Report Share Posted November 14, 2008 Great I have a chevron card, they will prolly be the next card I have to spaz out. Wamu already did jackin my rate up to 31.99% Wamu is now makin friends with the dust bunnies under my dresser Link to comment Share on other sites More sharing options...
JustaTexan Posted November 14, 2008 Report Share Posted November 14, 2008 Goodness gracious that's nuts! I'm sorry and I would be mega pissed too! Link to comment Share on other sites More sharing options...
Chester P. Dexter Posted November 14, 2008 Report Share Posted November 14, 2008 That is the worst CLC (credit line CUT) story I have heard yet, Leslie. It totally stinks.I have the same card. It says Texaco on the front but when I log in, it's a Chevron card issued by GEMB. They raised me from $600 to $800 recently.I owe them nearly $800. I can only imagine what's in store for me.I check EVERY credit card online to verify available balance and credit line before I use it, after hearing all of these stories. I fear I will be next. Link to comment Share on other sites More sharing options...
dARTHcREDIT Posted November 14, 2008 Report Share Posted November 14, 2008 Just my luck. I logged in and my CLD to $100 as well, wait theres more I also logged into my Dillard's account and they reduced it to $100 as well. I havent gotten a letter with an explanations as of yet. I already put those cards in the shredder and I wont re-order cards again. Link to comment Share on other sites More sharing options...
Chester P. Dexter Posted November 14, 2008 Report Share Posted November 14, 2008 This is the worst I've heard in the cc world lately. I wonder if I will be in the same boat as you two once I pay my balance down. I just logged in and I am OK for now, yet I owe $622 on an $800 credit line. So there's not much room for them to cut me - YET.You guys have probably had your account longer than me (I think mine is about one year old now) and my scores are crappy, in the mid-600s and lower now. So I don't really get it. Link to comment Share on other sites More sharing options...
JustaTexan Posted November 14, 2008 Report Share Posted November 14, 2008 Just my luck. I logged in and my CLD to $100 as well, wait theres more I also logged into my Dillard's account and they reduced it to $100 as well. I havent gotten a letter with an explanations as of yet. I already put those cards in the shredder and I wont re-order cards again.Dillards bumped you down? From what? Link to comment Share on other sites More sharing options...
creditreformer Posted November 15, 2008 Report Share Posted November 15, 2008 Stories like this make me glad I’ve never had a gas card. What do they really think people can do w/a $100 CL? I can see CLD ‘high risk’ borrowers (ex., ficos have tanked, utilization is whack, increased lates/missed pays, etc.), but when you start CLD GOOD customers, that sucks. Link to comment Share on other sites More sharing options...
dARTHcREDIT Posted November 15, 2008 Report Share Posted November 15, 2008 I called and got some lame excuse....that they are trying to be "conservative" with credit lines, since I haven't used my card for 9 months. I've been a Dillard's Elite customer for 2 years now, but have been a regular shopper since 1991. GEMB Stinks! Link to comment Share on other sites More sharing options...
LeslieR Posted November 15, 2008 Author Report Share Posted November 15, 2008 Well I checked my Dillards account, because that was my thought too -- I think it's the only other GEMB account I have. But it's still sitting at $500. I'll have to keep an eye on it.OH and an update - when Chevron made this great decision, they put a HARD inq on my EQ report. Still infuriated,LeslieR Link to comment Share on other sites More sharing options...
LeslieR Posted November 15, 2008 Author Report Share Posted November 15, 2008 Stories like this make me glad I’ve never had a gas card. What do they really think people can do w/a $100 CL? I can see CLD ‘high risk’ borrowers (ex., ficos have tanked, utilization is whack, increased lates/missed pays, etc.), but when you start CLD GOOD customers, that sucks.When my limit was only $300, I requested a CLI. This was over the summer during the nearly $5 a gallon gas period when $300 was nearly maxed in a few weeks. I was denied online. I called in and spoke to someone and got an increase to $500 upon recon. Then they gave me an auto-increase to $800 in September. Now this. Talk about irrational. And my credit's only been getting better and better - in fact it's just normal credit now. And certainly my internal behavior w/ Chevron/GEMB is perfect.jq put it well - irrational. Link to comment Share on other sites More sharing options...
Rick9972 Posted November 15, 2008 Report Share Posted November 15, 2008 How weird!!! I check my DW's Dillards account and they have just given her a $250 CLI. Link to comment Share on other sites More sharing options...
Flyingifr Posted November 15, 2008 Report Share Posted November 15, 2008 Leslie - GEMB is cutting everyone's credit lines. They cut mine from $7500 to $1000 on an eBay Mastercard when I have a balance of $0. That card went from the sock drawer to the shredder. Link to comment Share on other sites More sharing options...
red1gtrubodsm Posted November 15, 2008 Report Share Posted November 15, 2008 Wont all this CLC's negatively affect everyones CR in a different way. Now everyones "high balance" will be way higher than the new CL as it is listed on your CR. It will show up as that you were way over your limit with them.That is what any potential lender will see Link to comment Share on other sites More sharing options...
Flyingifr Posted November 15, 2008 Report Share Posted November 15, 2008 Utilization is not figured using High Balance, it's figured using Current Balance. Link to comment Share on other sites More sharing options...
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