My limit was reduced from $4,300 to $750. I pay on time and have never exceeded the limit. I usually pay the balance in full each month, so I'm sure they don't like me. Boo hoo.
When I called to ask why, the Customer Service Rep, based in Calcutta, read a bogus statement that basically said, "yes, we lowered it and no, you don't get to know why."
The statement also said I would receive notice via US Mail in 7 to 10 days. Oh, thanks. And along those lines, I apparently signed up long ago to be notified by email when I'm within $200 of my credit limit. It turns out that, though their system knows IMMEDIATELY if you're over your limit, it takes them five days to generate that warning email. Which of course is ridiculous; it gives you plenty of time to go over so they can collect their usurious $41 late fee.
This card gives me 2% back, but you have to call them to get it credited to your account. So I asked for that to happen. I was kept on hold for 10 minutes, then told they couldn't do it because I was "over my credit limit."
I made a payment that brought my balance down below the limit, then called again a few days later. Supposedly I WILL be credited with the reward money, though I was told it could take "up to 45 days" for the $98 in rewards to actually be credited to my account. 45 days?
So we'll see. The last time one of their CSR's told me something would happen within 10 days it didn't, and I had to call again.
I was told this would not go on my credit reports, nor would I be charged an over-the-limit fee. Show of hands, should I believe what they say?
I emailed everyone I know to warn them of this practice and heard back from several people that it had happened to them, but by other cards. Some of the big names were mentioned, Amex, Citi, B of A, etc.in some cases, they DID charge an OTL fee.
To friends on this website who wish bankruptcy on the company, NO! That means they don't have to pay debts or take any responsibility. The shareholders suffer (and maybe they deserve to), but the evil company execs do just fine. Also, don't get mad and cancel your card. If you want to punish them, keep the card but only charge a dollar each month, then pay in full so they get no interest. They will get money from the merchant, but not enough to even cover the costs of sending you a statement.
It's WE who should be filing bankruptcy.in my opinion, EVERYONE should. The credit cards and banks are, in actuality, the most evil organizations in the world's history — read up on Central Banking, such as the book "Creature from Jekyll Island" by a noted economist about the Federal Reserve.
The money they "lend" isn't even of real value, since they (and they're NOT federal, they're private) tricked congress into giving them the right to simply manufacture money out of thin air. So if you file bankruptcy, it costs them nothing, and they will have already made plenty of money off you via usurious interest rates and their never-ending parade of fraudulent fees and tricks.
The book was written a decade ago, but there's a chapter called "The Name of the Game is Bailout" that clearly describes how bailouts really work, and are the biggest scam imaginable.
So why are they the "most evil organizations?" Because they figured out centuries ago that the best way to get rich and powerful is to lend money that costs them nothing, AND that the most money can be lent to people fighting wars. They've made a practice of causing wars just so they can finance both sides. It's documented historic fact. We all need to know about this. All wars in the last few hundred years have been unnecessarily incited by their minions. It's mind-boggling.
Discouraged
Little Rock, Arkansas
U.S.A.
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