Best Buy
Reduced Credit Limit

From a customer who will no longer shop at Best Buy...

Not sure I will even receive a response to this email, but I thought someone at Best Buy would like to know that they have lost "another" customer for life,

I believe that CEO Brian Dunn, whom I actually met in 2000 while working for Best Buy when the Whitehall, PA Best Buy was a part of the SOP2 expansion, would like to know about this type of experience...

Up until this past weekend I have always enjoyed working and shopping at your store. As my life and career has evolved, I have continued shopping at Best Buy while using my Best Buy card as my primary means of purchase. I have purchased many things, computers, laptops, TV's, phones, etc.

This past October, I paid off my entire Best Buy Credit Card (HSBC) balance of over $2000 in full. I also spent approximately $500 this past Christmas as I had some open credit to now play with; leaving my with about $1400 of open credit available.

The reason for this message is because just as I was about to spend at least $1400 on a washer and dryer at your store using the available credit on my Best Buy card (and 18 months financing), to include the purchase of a new TV in the same $1400 price range (with out of pocket cash), I found that my credit limit had been reduced from $2000 to $605.

I found this interesting considering I just bought a home with a $417K loan, to include my Jared Credit Card having its credit limit increase from $2K to $3000K.

I am amazed that when I called about why this decrease occurred, I simply informed I will receive a letter in 7-10 business days informing me of why this decrease occurred.

How is it that my bank was more than happy to lend me almost half a million dollars for my new home, yet Best Buy decided to DECREASE my $2000 credit limit to $605, a mere $20 over my current balance; especially considering my track record of paying off this very Best Buy card in full just last October (a $2K payoff).

With that said, this unwarranted decrease in my credit limit has resulted in Best Buy losing over $1400 in appliances sales and yet another $1400 in TV sales, purchases that were literally set to be this weekend.

Unfortunately for Best Buy, all of my future purchases will now go elsewhere. I have tried to stay loyal throughout the years, but I apparently will have to join the growing trend of consumers who window shop at Best Buy, and then make my purchase elsewhere at a lower price...

Sincerely,

Lost Customer... Aka... Lost revenue for Best Buy

Steve Wade
571-350-4016
202-297-8799
swade1472@yahoo.com

Company: Best Buy
Country: USA

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