09-06-2012 11:14 AM
They have an interest free charge card that they finance themselve... They are SUPER easy, like I don't know anyone that has been declined I don't think kind of easy (Never interest, Never Fees, and they don't sell off or send off to collections and if you come back and pay later, they will re-open account (friend did it after more than a year!)
Anyway, they closed the account like 1 or so years into my ch 13 after doing a review on my account (They either have hard limits or what's considered open limits (Still has an internal limit and when you hit a certain number with balance they will review the account)
Anyway, They closed account during BK but said that as soon as BK was showing closed on credit to call back and they would open. I did that back in 2010 and they Hard Limited me at $200... Sometime ago I got a letter saying they reviewed and had released the hard limit. okay, what ever... was really only using it for cosmetic type things because they also ship free! On vacation this past weekend I managed to slam my Prada Sunglasses in the car door (My 8 year old Prada Sunglasses purchased at Von Maur way back when (Can't believe they lasted that long!) ANYWAY so I wanted to order from them and you know you have to try sunglesses on and I no longer have a store near me so I went online and ordered 3 pairs similar but different styles. Just under $1k, small company they have short working hours to talk to someone, I got notifed that I had an INQ and didn't think to to much about it because of the 50 car loan app pulls (not sure of exact number but over 20 for sure)
So finally talk to someone this morning who tells me that it was a $300 limit but set to review if I went over the $900ish and they did the HP on EQ (Only way they review credit is HP!) and because of the review they decreased my open charging over the $300 and put the Hard Limit Charging at $300 again!
In the end she didn't have to much to say and didn't really agree with me on much UNTIL I told her to stop talking about 2010 and stop talking strictly on my credit (I had stated that yes you are legally able to HP my account whenever you want because I hold credit with you but you should really at least let someone know at what spending level you would do a review or to ask them if they want to go forward with purchase or what not because of the HP and that if I had been working on a mortgage right now it could mean the difference)
Which is of course why I told her to look at bigger picture for a minute because she was quick to chime back "With how many INQ you have right now, a mortgage is not something that would be effected by my 1 INQ!" Valid point for ME, I have been car shopping, but what about someone else!)
So she said "OKAY, I see the point" I will send the feedback to upper management but so far this is how they do it.
I mean Im glad my orders went through but I still find it a little stupid to say oh, we don't like this charge off from 2010 so we put your limit to $300 which you are welcome to use when your current $998.30 balance falls BELOIW the $300!! LOL
and they report as charge like Amex so no limit, and no util. calculated.