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Target is cutting CL's!

Established Contributor

Target is cutting CL's!

I just checked my Target CL this morning, and they dropped my CL from $5K to $3K. 

 

I don't use it a lot because the APR is so high, but this made me mad.  I've been with them for ten years, and have NEVER been late.  

 

Argh.  The current CC environment is brutal.   

pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 1 of 12
11 REPLIES
Moderator Emeritus

Re: Target is cutting CL's!

Just great....now my $200 will turn to $100. That'll be my luck!

 

OP, sorry that happened. Seems like I read another post saying that their Target was cut too.

Message 2 of 12
Established Contributor

Re: Target is cutting CL's!

Amen!  This is a Target Visa.  I know they've been looking for a way to make their CC division more profitable, so this may be it. 

 

 

pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 3 of 12
Established Contributor

Re: Target is cutting CL's!

Poster on another thread wrote that her/his Target card had been decreased from $5000 to $500, I believe. Guess I'd better log into my Target account and see what's happening with my $5000 limit.

 

Crossing my fingers...

Message Edited by VEEnVEGAS on 07-28-2009 10:46 AM
Message 4 of 12
Established Contributor

Re: Target is cutting CL's!

For the moment my Target Visa CL appears to be intact.  Whew!! Smiley Happy OP, did you receive notice before the decrease or only find out by logging onto your account? Any idea when this was decreased?
Message 5 of 12
Established Contributor

Re: Target is cutting CL's!


VEEnVEGAS wrote:
For the moment my Target Visa CL appears to be intact.  Whew!! Smiley Happy OP, did you receive notice before the decrease or only find out by logging onto your account? Any idea when this was decreased?

 

Over the weekend it was $5K, and today I logged in and it was $3K.  I did not get a notice, this was a surprise. 
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 6 of 12
Established Contributor

Re: Target is cutting CL's!

Uggh...I hate to see this happening with another credit card issurer. I'm so sorry your CL was cut...good thing is at least they left you with more than many Target card holders ever receive.

 

Myself, I'm still sweating out the Wamu/Chase thing. 

Message 7 of 12
Established Contributor

Re: Target is cutting CL's!

I just called them, and the CSR said they are taking AA on accounts for the following reasons:

 

  • Recent bad payment history on Target account or other accounts
  • Negative CB information
  • Non-use of card

 

He said they normally close CCs that are inactive for six months, but that in my case, I've only gotten a CLD.  In other words, a warning to use it or lose it.   He said they are pretty much doing these things across the board.  

pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Message 8 of 12
Super Contributor

Re: Target is cutting CL's!


llecs wrote:

Just great....now my $200 will turn to $100. That'll be my luck!

 

OP, sorry that happened. Seems like I read another post saying that their Target was cut too.


 

+1. I wonder what they will do to my card with $200 CL for last 2 years....Smiley Wink
Message 9 of 12
Valued Member

Re: Target is cutting CL's!

Well I just double checked mine and I have the same $200 limit I have had since 07. I guess I am not the only one with a dinky limit.
Message 10 of 12