OMG! Decreased CL's

[SWISSOATL]

My credit limits are being decreased and I cant take!

My JCPenney CL was $500 and is reduced to $100 wtf????

and My Walmart card was $200 and is now $150 Just crazy!

and they say its due to my utiliz, collection (one on equifax), and too many new accounts (BMW & BMW Visa)

a  mess!!!!!

[MidnightVoice]

You are not alone - there is a lot of it going round. 

[Equinox]

I too had a CLD on my Old Navy card from 500 -> 100 recently. I also have no late payments, collections or anything

You're not the only one.

Message Edited by Equinox on 12-01-2008 11:54 AM

[ma_fico]

This is all part of GEMB's recent insanity.  I'm sorry you've been hit as well.

If you google around you'll see a lot of this going around with GEMB cardholders (Chevron, Lowes, etc etc).

[granny031350]

so far so good for me.  I have a Lowes and a Walmart and a JC Penny card.  To date, everything is still set (low cl anyway).  They have pulled soft on me at least 2 times a month but nothing has changed on my credit report except my balances are slowly coming down.  No new collections or missed payments.  So I am keeping my fingers crossed. 

[Schoolbuskid]

They havent decreased mine either, i have been carrying a balance for a little over 3 months now! Im really waiting and watching to see if they decrease me!

[Anonymous]

I have a Lowe's and a Walmart card from GEMB, so far, no CLD,  they doubled my Lowes CL back in July and my Walmart CLI in 9/08.

I check once a week and so far I am good. Both of my accounts turned one year old in 11/08.

[Ariel]

Just happened to me last month with my Chevron card... from $1000 limit to $450 .... I plan to cancel it anyway, since there are no Chevron's in the area that I just moved to.

[Anonymous]

GEMB finally got around to closing a furniture account I opened in March and never used. I should have called them to close it myself, but didn't. I knew it was coming. Use it or lose it. My other GEMB cards are fine. Still getting CLI's but they are being used every month and PIF.

[lorihmatthews]

My Wells Fargo Visa just reduced my limit from $21K to $14K. I have no idea why, apparently I should be receiving a letter in the mail shortly. I am livid. I am sure this is going to impact my score negatively because now my balance is basically maxed out whereas before it wasn't.