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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!!!!!
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.
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).
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.
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.