Not just Amex....GE Money Bank
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| Thu, 03-19-2009 - 6:48pm |
I was just reading the 'chasing the limiit' comments about Amex...GE Money Bank is doing it too. Every card that I have that is owned by GE has had the limit lowered to just above the balance in the past few months. In most cases it's fine (like my Care Credit card--I used it for my dog's surgery and it has a 0 balance) or even good (like my Penneys card--if I don't have the credit line, I can't use it!). But the other day, it was annoying! I was planning on going to Sam's Club because the ink for my printer is way cheaper there and I needed some frozen stuff. I had gotten my online bill thing two days before, so I knew I had about $700 of available credit. So I went to Sam's and my bill came to around $220. My card was denied. So I went to the customer service desk to figure out why and they called the card company only to find out...I had $4 of available credit. Gee, that's helpful. I told them I never got notice. They stated that the letter had been mailed out...4 days before that. Obviously I hadn't gotten it yet! Luckily it wasn't too embarrassing and I still had a bit of a cushion in our bank account from our tax refund, so I didn't have to pick things to put back! But jeez...I pay my bills on time and I get punished because some people don't and they're afraid that I won't? And I LOVE the reasoning, in all the letters, it has been 'credit utilization too high.' Well, WTF do you think lowering my credit line to $4 over my balance is going to do?!
I'm just remembering...when this is all over and the credit cards are begging for our business again....I'm going to remember who screwed me and who didn't.




GE was the institution behind