Credit Card Center Advertiser Disclosure†
06-25-2007 06:00 AM
06-25-2007 06:19 PM
06-25-2007 07:01 PM
Usually CC companies do this when your balances go up in your other accts. Simply put, I would cancle the acct. Don't put up with this. A couple years ago, Barclays bank through their Juniper acct decreased by balance because I took on new debt with another credit card. I cancled my acct and sent them a check that very moment. HSBC once approved my application over the phone for $300. I was insulted and immediately closed the acct on the phone right after it was opened. I now have four cc's with limits of $25K, $25K, $18K and $15K. Everytime I open an account I inform the bank that if I don't get a certain limit or a certain rate I won't accept the card/loan. Believe it or not, I usually get what I respectfully request.
focused07 wrote:Has anyone experienced this before?
06-25-2007 07:48 PM
Tuscani - are you here??? Related question - just got a letter from Amex (my costco Amex)...wouldn't you know that it's a FR letter? I have not applied for any new cards since fall of last year (I think this was my last card and it was opened in October). My initial CL was 2000, and they just sent me a letter stating that based on info from TU my CL has been reduced to 1400. I know that all of my FICO's have increased over this time period as we have been in the process of improving scores in order to purchase a home. If anything my TU score has increased 30-40 points over the past 5 months - and is way better than what it was in October '06. i was honest on my application about income - have always paid on time - have no idea why they would be doing this now. I called the customer service # on the back of the letter and the rep stated that if I was certain that my score had increased their could have been an error and that I could fax them the summary page with my FICO score from TU to show them what it was and they would compare to the score that was reported to them by TU. If they determine there is an error they will reinstate the original CL and update the account accordingly. I am just so frustrated because I have been doing nothing but paying balances down (I paid several down to zero and reduced util by 30% or so) and diligently watching my score. I feel like they really waited a long time to conduct a FR in this case. Has anyone experienced this before?
06-25-2007 08:02 PM
06-25-2007 08:02 PM
Thanks to you both. I told the rep that I feel as though I am being penalized for being nothing but a good customer. It's a pain that I have to take the time to prove to them that TU has made an error. It's total BS and although I have had nothing but a positive experience with amex I am considering closing my account (just have to wait until we make the home pruchase). Do you think think anyone at Costco customer service would care about the customer service I am not getting from their partner AMEX?
06-25-2007 08:07 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.