Diners Club

[Maddog_]

They are going through account reviews over the past 60 days.  Apparently, digging through old account records, it caused their billing system to kick out that $0 balance statement.  They have been reducing credit limits and closing more accounts recently (BMO), for reasons that are hardly justifiable.  I have a FICO over 800 and they just cut my limit in half, even though I have been in good standing with them for 8+ years.  I think they are winding the consumer cards down finally.  For many years these cards were made of "unobtainium", meaning no one could get a consumer card because they were just not issuing any of them.

[sjt]

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@Maddog_ wrote:

They are going through account reviews over the past 60 days.  Apparently, digging through old account records, it caused their billing system to kick out that $0 balance statement.  They have been reducing credit limits and closing more accounts recently (BMO), for reasons that are hardly justifiable.  I have a FICO over 800 and they just cut my limit in half, even though I have been in good standing with them for 8+ years.  I think they are winding the consumer cards down finally.  For many years these cards were made of "unobtainium", meaning no one could get a consumer card because they were just not issuing any of them.

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Did they give you a reason for the decrease in CL?

[Maddog_]

They said they were dropping high credit limits in order to reduce their exposure to fraud.  I told them they were taking an adverse action against me and I closed my account.  Goodbye unobtainium.

[BuckyB]

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@LADave wrote:

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could just be phishing.

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Diners Club is owned by Discover, but the cards issued in the US are issued as Mastercards by a licensee bank.

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Diners Club is administered in US by BMO I believe

[K-in-Boston]

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@BuckyB wrote:

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@LADave wrote:

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could just be phishing.

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Diners Club is owned by Discover, but the cards issued in the US are issued as Mastercards by a licensee bank.

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Diners Club is administered in US by BMO I believe

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Diners Club International has been owned by Discover for about 15 years.  Discover owns the global payment network and the trademark.  Individual countries have different issuers of the cards, and for the US and Canada they are issued by BMO but operate on the MasterCard network, which was a change Citi made before selling DCI to Discover and the rights to Diners Club cards to BMO.  There is a strange paradox that Diners Club cards issued in the US and Canada can't be used on the Diners Club payment network, yet Discover can.

[BuckyB]

Interesting stuff, thank you.  I'd like to see the cards make a comeback.  They have a nice long history and had a great deal of clout back in the day.

[MJ-san]

Same happened to me - CLD 30k to 15k. 
Got the AA letter in the mail about 10 days after they did it. They gave FICO score (810) and said "too many new account and high balances on revolving accounts.

Ironically that FICO score is 60 points higher than when I first got the card. Clearly they are trying to run off customers.

When I called to close, it was no questions or attempts to retain me. I said it wasn't worth the AF anymore and with the CLD I didn't feel valued - and the rep said they were getting a lot of closures. 
Stupid decision imho - they just bought BOTW and should have tried to migrate me to one of those cards, I would have probably bitten

[BuckyB]

Yeah they've pretty much ruined the card and the brand which is sad.

[sjt]

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@BuckyB wrote:

Yeah they've pretty much ruined the card and the brand which is sad.

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100%!

Diner's had so much potential. They could have used the brand to market premium cards to their Private Banking customers like JP Morgan/Chase did with the Reserve Card. I wish Discover would take over their personal card portfolio.

[sjt]

Now that Capital One bought Discover, I wonder what they will do with the Diners Club brand.