Crown Jewelers CLD

[iltph]

I've had my Crown Jewelers account for 12 months now. I just checked my account info after having paid off my last purchase a few weeks ago. My credit limit is now only $500. It was originally $1,500 then bumped up to $2,500. I've made three purchases that were all over $100. Has this happened with anyone else lately? Will they bump my CL back up if I ask? If not, I guess I won't buy anything more and just let it get closed out in 6 months after not making any purchases.

Edit: I just checked my wife's account and noticed that her limit was also decreased to $500.

Message Edited by iltph on 02-09-2009 03:55 PM

[Anonymous]

Not sure if crown jewelers is anything like daniels but my credit limit also has went down since i paid off my last purchase. It started at 950 then after i paid it off it went down to about 400. Maybe if there are no purchases being made they may lower it. I know for example if I wanted something from daniels that was more of my credit limit they would raise it... this has happened twice so far.

[oracles]

Hi iltph

I don't have this card however I have read they will give you a credit limit of how much you have spent with them.

I.E.. If you bought things totaling 1500 they give you a 1500 limit

      if you bought things totaling 2500 they give you a 2500 limit

This is done after 6 months supposedly to see where your limit should be. YMMV (some have had it done after 12 months and not 6 months)

If you have only bought less than 500, they will report only a 500 limit.

 Hope this helps

[Anonymous]

You actually have to keep purchasing something every 6 months to keep that CL of 2500.00.  If you pay the balance off and let it report a 0 balance for too long or not pruchase something in a six month time frame they will automatically lower your limit to 500.00.  I have had my 2500.00 cl for more than 15 months and I only purchase small items every six months then pay it off.

[iltph]

My wife and I both purchased something 3 months ago (as we've done every 3 months) then just paid the balance before this month's statement cut. Now they're both showing a 0 balance and a $500 limit so I guess it's the 0 balance that did it (even though it was just paid off). Oh well, i'll just let the accounts close out after not making anymore purchases.

[tray]

Hi, you are not alone they also decrease my credit limit from $2500 to $500 I found this out while looking online on the CJ website. I opened the account in May of 07 I purchased 2 items one over $200 I have never been late pay every month as well as the interest charges.  I am currently still paying on my last purchase soon to be paid in full.  My credit reports still reflects $2500 but i am sure it will change once I have a 0 balance.  I am outraged as this is going to affect my utilization, but I plan tommorow to email CJ on this issue and see what comment is emailed back to me.  I will post another thread on the results.

[Schoolbuskid]

They decreased me as well, i only bought something once to get the account to report and that was it, oh well not a big deal to me!

[Anonymous]

How long can you go without buying something before they close the account and do they give you a heads up first???

[oracles]

Hi Wildcat

I have read they do give you a heads up on closing the account. they give you time to make a purchase if you do not want it closed.

The time period is suppose to be after 6 months of no purchases, they will close it, however some members have posts it being longer.

hope this helps

[valley_man0505]

After reading this, I checked my account.  They just reduced me to $500 as well.  I am glad I did my mortgage pre-app before the new CL was reported or my UTL likely would have brought me down below the cutoff.  Luckily, my UTL will be below 10% by the time I go for final approval even with the new CL reporting.

ETA:  I just purchase something last month.  However, I think I do remember seeing something when I first signed up that you have to spend over a certain amount of money in the first 6 months to maintain the $2500 CL.  My 6 month mark was the end of January.

Message Edited by valley_man0505 on 02-10-2009 11:30 AM