In Feb 07 I received an offer for a Citi Diamond Preferred credit card with a $750.00 limit, and I took it. Since then I have made two purchases, both under $75.00, and the first purchase I already paid off, leaving a balance of 67.00 and no payment due for June since I already paid. Well, today I happened to view my account and noticed they decreased my credit limit from 750 to 500. I called customer service and, of course, spoke to someone with a foreign accent who was hard to understand. He looked into it and said that due to "something that came up on my credit report" they chose to decrease my limit.
And of course he couldn't say what that something was. I subscribe to a credit reporting agency that gives me all 3 scores and reports on an ongoing basis, so I know what's going on with my credit. After checking it out, I saw one score went down by 2 points but another one went up by 8 points... So what's the problem???
I think it is ridiculous how these credit card companies fish so hard to get your business, then when they have you, use what goes on in your private credit report to up the ante and put the screws to you. Well, the joke's on them, because I don't need to use their stinkin' card. I'm going to pay off what little balance I have. Too bad for them, because I would consider myself a good consumer who loves shopping AND can pay my bills. I haven't had one late payment of any kind in years. But these companies want to find ways to charge you more by sneaking into your credit file and determining you're a "risk" by what your scores are now showing, and jack up rates or "punish" you by decreasing credit limits.
Well, thanks for the decrease, Citi. Now I'll keep it at zero and you'll get nothing from me.
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