Elan Financial Services
National Penn Bank Opened an account, then immediately lowered my limit because of "Credit account too recently opened"

A couple of months ago, I received an offer in the mail to apply for a pre-approved Zero (0%) percent rate credit card, (12 month period), which I could use for purchases, or at my option, to transfer my other higher interest rate card balances to their card. I hadn't opened a new credit card account for several years, but did agree that I could use the 0% interest for a year as a tool for paying down balances faster. Elan Financial opened a new account for me, with a Platinum credit card under the name of Penn National Bank, with a $5,000 limit. I didn't even get a chance to examine which accounts I was going to transfer over! Less than one month later, I received another notice from National Penn Bank (Elan Financial Services) that they reviewed my credit file, and were immediately lowering my credit limit because of a "Credit account too recently opened". Well... YES! The "recently opened account" was YOURS, Sherlock!!!

Company: Elan Financial Services
Country: USA
State: North Dakota
City: Fargo
Site: www.elanfinancialservices.com

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