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I got an automated email from my Target Visa card saying I was within $200 of my limit. But I hadn’t used my card in months. The balance was zero and the credit line was $5000 on my last statement, so I called them. They said, incredibly, that my credit line had been dropped all the way to $200 because I really didn’t use my card very much. When I asked when they were planning to tell me this, so I wouldn’t accidentally charge more and get a black mark on my credit: " It should have appeared in the fine print on the back of your last bill. But since you hadn’t charged anything lately you are not getting bills. So it will appear on your next bill. " Good luck with that! Hell if I ever use your card again, it’s a trap waiting to be sprung.
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Comcast advised me I no longer could charge any pay per view because I was behind in my payments. I told them I don’t get a bill, I get complimentary basic service through the building contract and only pay for PPV which I have never used.
They told me, with a serious voice, “You owe 9 cents tax on the digital converter box we sent you last month.” When I asked why they didn’t send me a bill, they explained that it was foolish to waste postage on any bill under a dollar. And they couldn’t see the contradiction that it made sense to cut me off for the same 9 cents from a service they would like me to use. Then I asked them to check why I would owe tax on a free service, and they said it was an error, but they couldn’t correct it from their office but they would credit me 18 cents so I wouldn’t have the problem for 2 months and my account would be clear and I could again qualify for PPV which I don’t use and I would have to call back and repeat this every two months forever. -
My Master Card sent me a letter saying they had settled a case involving bad faith on automatic rental car insurance, in which they still refuse to take responsibility. I was invited to claim a chunk of the booty, to the tune of $5.60, which their records showed I was not entitled too because I’d never rented a car using their card. Well, finally a credit card incident I can understand.
Gee, I guess they must have hired the same folks who came up with the notion that, in order to close a bank account, you must do it by going in person to the same branch where you opened it.
Even if you’re now living in another continent. Riiiiiiiite…
The reason for the changes in credit card terms may be because of new rules that went into effect on Thursday, that require 45 days notice before changing the terms on a credit card account. So some banks instituted changes before Thursday.
Hee hee hee…that’s why I no longer have credit cards. You can’t get bit if you don’t play.
Unfortunately all the bill did was backfire against consumers that used credit correctly.
My Discover card went down to $7,500.00 down to $100.00
What am I gonna do with a credit card with $100.00 limit. And I used my Discover regularly. Oh nothing large, just the monthly gym membership and monthy phone/internet.
What use is a hundred dollar credit card? I don’t know why they didn’t chop the card off all together.
It was kind of a nice “safety net” to have that large credit limit, like for if I had a dental emergency or something. I would think in the back of my head, “well if that tooth needs a root canal I could charge it and pay it off monthy.”
Oh well…What are you gonna do right?
I don’t see them making any money from interest payment; maybe they hope lots of folks will overcharge the $100 and they can charge large fees.
Credit card companies don’t want people using credit ‘correctly.’ Most of their income comes from people racking up huge bills and spending months or years accruing interest as they pay them off. That’s why the FED bill went through to begin with.
Maybe I’d better double-check the terms on the two credit cards I regularly use and the one I’ve never used since my bank gave it to me earlier this year. Especially since I’m one of those “deadbeats” who pays his bill in full every month so they don’t make any money off me in interest.
Ah, is that what happened. Chase cut my limit while I was on vacation earlier this month, citing some bullshit story about ‘new information on my credit report’. Didn’t exactly break me up–I’d paid off the remaining balance on that card a few months back, after they bought my account from the remains of Washington Mutual. I think I’m going to cancel the account–the credit limit is not the first thing they’ve messed with that didn’t make me happy.
Hee hee hee…I’ve never gotten irresponsibly in over my head with debt and had to drink Dave Ramsey’s kool-aid, YMMV.
This happened to me with the one US credit card I keep (so I don’t get bitten with an exchange rate fee when I’m in the US). I wondered why they’d drop my limit, but I get it now with the law changes.
Probably should cancel it anyway, since I won’t be going back any time soon.
Oh yeah? Well I called my bank to complain about a four dollar service fee they had charged me. They agreed it was their mistake. My next statement showed a four dollar credit…and a six dollar “customer service” fee for calling them. Man it is almost time for torches and pitchforks.
Then you are in the teeny tiny minority. Most Americans carry a balance. And we recently paid cash to redo the flooring in our rental unit. I don’t consider it Kool-Aid…I consider it sound advice that’s worked for many people.
I suppose the funny bit is that the OP was complaining that he hadn’t actually used the card, yeah?
I think that a lot of people are going to cancel accounts because of various bits of nonsense that the CC companies are doing. And the CC companies are gonna go into a tizzy fairly soon, wondering why they can’t retain customers.