While in a Target store in 1999 I was enticed to convert my regular Target charge card to a Visa. I did and for the first year everything was fine. My credit limit was established at $10,000 and the rate was 15.9%. I used the card sporadically in 2000 but in 2001 I used the card to the limit and then paid it off. During this time I was also going thru a separation/divorce.
In May I was hospitalized and had to have a surgical procedure. During this time I inadvertently misplaced my bill and forgot to pay it until the next due date which made me 30 days delinquent (the one and only time ever with them). Subsequently they raised my interest rate to 23.9% and reduced my credit limite to $1,800. I thought this was drastic so I called and was simply "brushed off" by their rude customer service people.
To make matters worse they didn't notify me of this and I didn't find it out until about 2 months afterwards when my internet service provider and a gym membership started calling asking why their charges to the card were being denied. This cost me insufficient funds fees with them as well. I finally spoke to someone who took the time to "listen" and "review" the situation but in the end refused to make any changes to the account. I was told that in November I could request to have the account "re-instated" to its former limits.
In November they reduced my rate back to 15.9% but didn't adjust my credit limit. I just called recently and was told that they would not adjust the credit limit back as promised but they would be happy to send me a 10% discount coupon for Target. I ask you... Why the Hell would I want it? This type of action is exactly why people don't care anymore about whether certain creditors get paid or not. God forbid my financial situation would ever deteriorate but if it does I know who the first creditor on any personal bankruptcy filing will be.
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