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Regular Contributor
vollybal
Posts: 119
Registered: ‎12-05-2007

JCPENNY CLD'd me 90% of Credit Limit!!!

Oh Man, I just received a letter from GE Money/JCpenney stating that they have decided to lower my CL. The funny thing about this is that I just paid the Card off!!! So pretty much they let me pay a lot of money to them just to cut the limit to almost nothing...I will be calling them tomorrow and see what I can have them do to restore the limit.

 

 

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Senior Contributor
laz98
Posts: 4,291
Registered: ‎09-06-2008

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

ouch!  very sorry to hear that!
Latest scores: Walmart TU: 766. MyFICO TU: ---. DCU EQ: 741. PSECU EX: 756.
Regular Contributor
vollybal
Posts: 119
Registered: ‎12-05-2007

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

The sad thing is that I knew this might happen because one of my TLs from the past just updated there files incorrectly and put 8 lates in 08 and 07 on my report when it was closed in 06! I just verified with GE money that that was why they killed my credit limit. I have contacted the creditor and they are going to correct it but now I have to sit tight and hopew that no other creditors do the same thing.
Frequent Contributor
lurknomore
Posts: 356
Registered: ‎10-10-2007

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

Sorry to hear this happened to you, volly.

 

There have been tons of posts on other forums about the aggressive AA being taken by GEMB against holders of their cards (e.g. Care Credit, JCP, Lowes, Paypal, Walmart, Sam's Club, etc).  According to speculation/rumor, the prime targets for AA are those who either (1) haven't used the card in a long time; and (2) those who have recent blemishes on their reports. 

 

If any posters fall into either or both of those categories, you might want to check any GEMB cards that you have.  (Some whose accounts were closed for inactivity only have reported success having them reopened.)

FICO: 8/08 - TU 718; EQ 702; EX 733 (Bonafide 700 club member!)
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Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

Don't forget, lurknomore, that another of these prime targets are those who carry balances for a certain amount of time. I've seen AA on people who've carried a balance for three months.


lurknomore wrote:

Sorry to hear this happened to you, volly.

 

There have been tons of posts on other forums about the aggressive AA being taken by GEMB against holders of their cards (e.g. Care Credit, JCP, Lowes, Paypal, Walmart, Sam's Club, etc).  According to speculation/rumor, the prime targets for AA are those who either (1) haven't used the card in a long time; and (2) those who have recent blemishes on their reports. 

 

If any posters fall into either or both of those categories, you might want to check any GEMB cards that you have.  (Some whose accounts were closed for inactivity only have reported success having them reopened.)



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Established Contributor
cartercorp
Posts: 851
Registered: ‎07-01-2008

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

Sorry to hear this and i know the feeling i was cld once due to a cash advance with best buy (hsbc).
Frequent Contributor
USC08
Posts: 275
Registered: ‎06-27-2008

Re: JCPENNY CLD'd me 90% of Credit Limit!!!


lurknomore wrote:

Sorry to hear this happened to you, volly.

 

There have been tons of posts on other forums about the aggressive AA being taken by GEMB against holders of their cards (e.g. Care Credit, JCP, Lowes, Paypal, Walmart, Sam's Club, etc).  According to speculation/rumor, the prime targets for AA are those who either (1) haven't used the card in a long time; and (2) those who have recent blemishes on their reports. 

 

If any posters fall into either or both of those categories, you might want to check any GEMB cards that you have.  (Some whose accounts were closed for inactivity only have reported success having them reopened.)


 

Question to reason #1: Is having a balance on a card and not using it but "paying it off" considered activity regardless? I mean, would they take AA for that? Anyone know?
Established Contributor
Uniqua
Posts: 683
Registered: ‎04-05-2008

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

[ Edited ]
USC08, I wouldn't classify that as activity. Some CCCs may still take AA even if there is no card usage but a balance is being carried. This isn't the rule for all CCCs, but nowadays too many are suffering from AA simply because they are carrying balances (even while paying more than minimum amount and paying on time).
Message Edited by Uniqua on 11-05-2008 03:09 PM

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Current Score: TU 796, EQ 743
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Regular Contributor
vollybal
Posts: 119
Registered: ‎12-05-2007

Re: JCPENNY CLD'd me 90% of Credit Limit!!!

I just got off the phone with JCpenneys and had to escalate to the managers and above and they want to pull a hard inq. I told them under no circumstance do I want that. I informed them that they soft pull all the time on me to CLI over the years on this account and I want that to happen. I informed them of the fact that I just paid off the card and that I use this card heavy over christmas...Not really but it might help...The manager told me that she will contact me on Monday and let me know what they can do for me. Hopefully they will give it back, they were very nice and appreciated the fact that I have corected the error and was proactive to this change.

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