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The same thing happened to me with my Sams Club credit card. As soon as I paid it off, they lowered my credit limit all the way down to 100.00. GEMB also lowered my Paypal down to 960.00 from 1600.00. I never missed a payment, always paid more than 3 times the minimum payment due. I called customer service for both cards and expressed my opinion of this. They would not budge. If you get any success, please let me know how you went about doing it. Good luck.
Sam's Club CC/LOC was closed by the credit people at Sam's. (It was attached to my membership. The information showed up for the cashier when I checked out. I don't remember having a separate cc, but I may have had one.) When I called them about it, they would not discuss it with me. I had a 5k limit, no debt on it, and paid it in full each time. They said the account was closed, end of story. I never received a letter either.
I told them to cancel my membership too and send a refund. I had JUST paid my renewal fees using the said card (they auto billed membership to the card). They argued, whined, begged me not to cancel my membership. I asked them what the point of having membership if I don't have the cc to go with?
That was like two years ago. I did receive my full refund. No idea what was up with their actions or their attitude. I had "perfect" credit at the time - no baddies. Oh. My mortgage. Maybe that triggered it. But hello? It was recorded on the CR that I paid way more than what was due. I had a few creditors go squirrelly on me for getting a mortgage. I didn't have a car payment. Student loans (small amounts) in deferment, but being paid anyways. My overall other debt was 200k less than my available credit at the time. My credit report clearly showed positives.
Anyways, who knows why banks are doing things. They want to reduce risk, make money.
BofA said they are going to start implementing CC annual fees ranging from $29-99 a year, to include targeting consumers who do not carry a balance over, pay no interest, and are great customers. (this was reported in the newspaper) OUCH.
After trying unsuccessfully with repeated calls for 3 hours.... I was told I can write a letter to consumer affairs and the risk department. I plan on writing a letter to both, I was given the name of the president for GEMoney Bank, Mark Gebor. If anyone wants to join in and write them letters as well feel free to do so. Here are the addresses:
Risk Department
P.O. Box 981064
El Paso, Tx 79998 fax number: 1-866-433-6076
Consumer Affairs
P.O. Box 981726
El Paso, Tx 79998
(edited to remove name - posting of personal information, your own or someone else's, is not allowed in the Forums)
Join the fight!!!!!!!!!
@jcx808 wrote:After trying unsuccessfully with repeated calls for 3 hours.... I was told I can write a letter to consumer affairs and the risk department. I plan on writing a letter to both, I was given the name of the president for GEMoney Bank, Mark Gebor. If anyone wants to join in and write them letters as well feel free to do so. Here are the addresses:
Risk Department
P.O. Box 981064
El Paso, Tx 79998 fax number: 1-866-433-6076
Consumer Affairs
P.O. Box 981726
El Paso, Tx 79998
(edited to remove name - posting personal information such as full names is not not allowed in the Forums)
Join the fight!!!!!!!!!
I think you have already exhausted all your options. That has/is happening to many cardholders. Apply for a new card. But any way, if wish to continue your fight, PM me, and I will send you (name removed) email. He won't reply directly, but you will here from an executive via mail within a week.
Slightly OT but last year I noticed that GEMB was doing an AR on both my GEMB accounts at least once a month. They stopped doing that back in May and I dont know if they started again since I dont use EQ's scorewatch anymore.
IMHO they were looking at my CR for activity on other accounts as a possible precursor to AA. I did get a CLI on the Sams card (I didnt ask and never would) and nothing on the Chevron card.
What was your activity on other accounts? also did you have any new accounts?