topic Re: Target is cutting CL's! in Credit Cards

Target is cutting CL's!

pattycake — Mon, 27 Jul 2009 19:03:16 GMT

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.

Re: Target is cutting CL's!

llecs — Mon, 27 Jul 2009 19:48:53 GMT

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.

Re: Target is cutting CL's!

pattycake — Mon, 27 Jul 2009 20:00:27 GMT

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.

Re: Target is cutting CL's!

Anonymous — Tue, 28 Jul 2009 17:46:31 GMT

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

Re: Target is cutting CL's!

Anonymous — Mon, 27 Jul 2009 21:08:32 GMT

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

Re: Target is cutting CL's!

pattycake — Mon, 27 Jul 2009 21:28:18 GMT

@Anonymous wrote:
For the moment my Target Visa CL appears to be intact. Whew!! 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.

Re: Target is cutting CL's!

Anonymous — Mon, 27 Jul 2009 21:35:37 GMT

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.

Re: Target is cutting CL's!

pattycake — Mon, 27 Jul 2009 21:45:58 GMT

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.

Re: Target is cutting CL's!

Red1Blue — Mon, 27 Jul 2009 21:50:50 GMT

@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....

Re: Target is cutting CL's!

Anonymous — Mon, 27 Jul 2009 22:27:31 GMT

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.

Re: Target is cutting CL's!

pattycake — Mon, 27 Jul 2009 22:56:19 GMT

My brother has a $200 CL. They are not very generous with CLs but at least they are a good card for building, and will eventually PC to Visa later on.

They're not doing very well right now so they are clamping down pretty tight.

Re: Target is cutting CL's!

Anonymous — Tue, 28 Jul 2009 03:57:03 GMT

Well my big cl of $200.is still intact,But they can have it back.