cancel
Showing results for 
Search instead for 
Did you mean: 

So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

Established Member

So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

I am SO angry right now with GE Capital!  I opened a CareCredit account in January 2012, because I needed extensive (expensive) dental work done that would be performed over time, depending on different factors like healing time, etc.  I was approved for $12,000 and have charged $6,450.00 to the card, and it currently carries a balance of $3,100.00.  I have never missed a payment, and pay at least the minimum every month, yet I just received a letter stating that my credit line was reduced to $4,600.00!!!!  NOTHING IN MY CREDIT FILE HAS CHANGED TO PROMPT THIS DECREASE!!  I was going to have more work done in May and now I can't.  Not to mention that now my utilization rate has just shot up dramatically and I'm almost maxed out on the card so it can affect my credit in a negative way!  This really makes me mad!!  Is this normal, such a huge decrease?  Why did they even approve me then for $12,000 initially?  Has this happened to anyone before with their GE Capital account?  Do I have any options this is just ridiculous!

 


Starting Score: 6??
Current Score: Walmart TU 640-7/12, Experian 717-3/12
Goal Score: 720+


Take the FICO Fitness Challenge
Message 1 of 9
8 REPLIES
Moderator Emerita

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

Give them a call and let them know you will be using the CL in a month. CareCredit is one of those lines meant for an anticipated charge and since your dental work was half of what you needed they dropped your line.

As long as your credit profile has not changed - I don't see a problem.
Message 2 of 9
Super Contributor

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%


vegasgurl2001 wrote:

I am SO angry right now with GE Capital!  I opened a CareCredit account in January 2012, because I needed extensive (expensive) dental work done that would be performed over time, depending on different factors like healing time, etc.  I was approved for $12,000 and have charged $6,450.00 to the card, and it currently carries a balance of $3,100.00.  I have never missed a payment, and pay at least the minimum every month, yet I just received a letter stating that my credit line was reduced to $4,600.00!!!!  NOTHING IN MY CREDIT FILE HAS CHANGED TO PROMPT THIS DECREASE!!  I was going to have more work done in May and now I can't.  Not to mention that now my utilization rate has just shot up dramatically and I'm almost maxed out on the card so it can affect my credit in a negative way!  This really makes me mad!!  Is this normal, such a huge decrease?  Why did they even approve me then for $12,000 initially?  Has this happened to anyone before with their GE Capital account?  Do I have any options this is just ridiculous!

 


hmmm. try calling GE to find out why. It is perfectly legal for them  to chase balances, but something must have prompted them to. You said nothing in your file has changed though....so I don't know why. Best way is to call them and find out.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 3 of 9
Established Member

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

In Working with care credit for the past 6 years I have seen them do that a. Lot in the last 3 years. I have. Patients. Get approved for. Initial limits of 12k and. In 6 months. Care credit closes. Or. Reduces the limit Significantly .. It's just how they do business now days. .. If you call them they will do a HP to give you a CLI it's. sucks!!! Busy of. Luck but call them
To many credit card !!
I'm on the road to 700
Message 4 of 9
Highlighted
Valued Contributor

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

 

Have had Care Credit for 8 years.  It was never activated according to them.  So it's closed.  It still shows as open.   I gave up on dental work in my area and paid about 70% less by going to Dr. "T"  in Mexico.   After coming back I had the work looked at by a local dentist (3 root canals with crowns) and he said whoever did it, did a good job (and he's one of the best in my area).  THEN I told him where I went,  and he got a bit nasty.   Tough, they wouldn't work on the price, so I worked on it myself.

 

After talking to a Care Credit CSR and supervisor, they wanted us to close the account before they did (that was over a year ago), saying it would look better if they didn't close it.  I told them don't do a thing with it.  It's still reporting open and 0 balance  Smiley LOL

Message 5 of 9
New Visitor

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

I too have been slapped by GE Capital on seneral of my credit accounts...started with JC Penny.....lowered not once, not twice, but 3 times!  Then they went for other GE accounts that I had with the latest one having a zero balance and they decided to close it at their descretion....I always paid on time every account!  So of course, when they reduce your cresit limit-it looks worse on your credit and YES my scores went down because of it......so then they use that as another excuse to reduce other limits as well.......sooooooo  frustrating!!!

Message 6 of 9
Regular Contributor

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

Isn't GE the company that issues the Lowe's card? I like the idea of 5% off, but I wouldn't want to deal with a company that acts arbitrarily.
Costco TrueEarningsSallie Mae MasterCardDiscover itUS Bank Cash+Chase SlateBlue Cash EverydayFidelity VisaTU-803/EQ-808/EX-800
Message 7 of 9
New Visitor

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

yes they do issue the lowes card......just waiting for them to cut my credit limit on that one too!!!  Smiley Frustrated

Message 8 of 9
New Contributor

Re: So ANGRY w/CareCredit CC! GE Capital decreased CL by 62%

Yeah risk department decreased credit lines to more than 60,000 accounts In the last two months due to over exposure and government regulation compliance. Wait for the letters of adverse action and then call in if you don't agree, The only thing CSR's and credit solutions can do is doing a dispute with the CRA's to see if the info transunion gave is wrong.
Message 9 of 9