Major Walmart Credit Line Decrease

Anonymous · ‎05-19-2009

Just wondering if anyone else has experienced this with GEMB/Walmart recently...

Two months ago, I paid off my Walmart card in full trying to be responsible. Around the same time Capital One raised the limit on two of my cards with them and Macy's doubled my limit. I only had $500 with Walmart (being young and dumb a while back with credit). I went to Walmart and decided to use the card Sunday and was denied with a total of $136. After a couple attempts, I walked away since I did not bring any other cards with me. I called the number on the back of the card and the rep told me me limit was dropped to $100 "temporarily due to the national economic crisis" and my limit would "be restored in 60 days". I asked when they planned on telling me and he said, "We mailed you a letter yesterday."

Needless to say, it was extremely embarassing and now I am thinking of putting some scissors to all my GEMB cards and start visiting my friends at Target and Kroger instead.

Has anyone else had anything drastic like an 80% decrease with no reason being blamed on you?

Red1Blue · ‎05-19-2009

Sorry to hear what happend to you. Looks like, this is the preview of what is about to come in the future for all customers.

Anonymous · ‎05-19-2009

Has anyone else had anything drastic like an 80% decrease with no reason being blamed on you?

Yip... that is what happened to me a couple of months ago.. They cut my Walmart from $575 to $100. Prior to that they cut my Pay Pal from 600 to 290 and my Amazon Store Credit from 700 to 350. They flat out closed my Lowes before I ever got to use it.

I keep the card and put $50.00 or so on it and pay it off. Just yesterday, I tried to get CLI on all of my GEMB accounts. Surprisingly, they gave me $100 on Paypal and Amazon.. $300 on JCP.. and Walmart.. got declined. When I first called when I got my CLDs, I was told that even though the cards are all financed throu GEMB, the stores still have their respective credit guidelines. This, I was told, was why I had all of the cuts, but JCP actually approved me for an increase just a month after everything else was cut.

I will try with Walmart again in Nov. or so to see what happens. Do not give up on it just yet.. Yeah.. I wanted to cancel all those accounts, but I needed any little CL I could to decrease my utilization. Trust me, these cuts from GEMB happened with a lot of us over the past 3 or 4 months. There is a lot of posts about it here.

Anonymous · ‎05-19-2009

Sorry to hear about the CLD

But why for only 60 days? That's seems weird.II wonder if Wal Mart knows something about the economy that there not telling us...

Trishco · ‎05-20-2009

GEMB has been at it with me since late last year.

Care Credit 5500...closed

Care Credit 500... closed

Lowe's Visa 4000 cld to 2100 (which was not much over my balance) and with every payment they are decreasing the limit)

Dillards 500 cld to 250

Walmart 500 cld to 124

The Lowe's visa started as a regular Lowes cc, they *upgraded* it to a visa, more than doubled the limit, added the rewards, then turn around and take it away. Hmmm...I don't think they like giving me all those gift certificates!!

Anonymous · ‎05-20-2009

They did the same thing with fiances Gap card. $500, $300, $100 I think it was. In any case after it hit $100 he closed it before they did it for him.

Anonymous · ‎05-20-2009

I have heard about people being negatively affected for a couple months now and I guess its just now my time to start feeling it. I just received a letter from Chase (formerly WaMu) saying "In order to maximize our profitability on your account" -- basically doubling my APR.

A friend of mine just suggested I should send a letter back starting with "In order to maximize profitability in my wallet... please close my account!"

Anonymous · ‎05-21-2009

@Anonymous wrote:
"In order to maximize profitability in my wallet... please close my account!"

LOL did you try that?

Anonymous · ‎05-21-2009

As cute as that letter would be (and of course I would post it on here), Chase hasn't really done anything to me yet that would make me want to close the account. But trust me, the balance on that account will be dropping rapidly very soon.

When they force people working with credit correctly to make up for the people not paying, eventually all the 'good' people are going to leave their company and that leaves the only people not paying their bills as customers -- but of course, if you don't pay for anything, then you really aren't a customer. All I can say is: Good luck credit card companies... you're gonna need it!