Account Central
Dramatic reduction of credit limit

I have had a credit card with a $4,000 credit limit from Account Central for several years. I use it for daily expenses and pay the balance in full each month online, sometimes even making a mid-month payment as well. My balance ranges usuallly from $300 to $1,000 and is always paid well before it is due.

This morning, without warning, I was shocked to log into my account online to find that my credit limit had been reduced from $4,000 to $840. To add insult to injury it also stated that I was beyond my credit limit by $49 because my balance was $889. This is February 22 and I already made an early payment February 3 so there is no payment due on the next payment date of March 5. Nonetheless I immediately made an online payment of $300 and will pay the rest of the balance off next week.

Today is Sunday so I now have to wait until tomorrow until I can contact a bank official but from what I've read in another complaint I can expect very little but a statement that I'm stuck with their decision - made without warning. February 22 for me is a dismal Sunday.

At such a perilous time in our economy I cannot understand why this bank would treat a good customer who always pays in full on time like this.in the next few weeks I have plans to buy a house. The impact this will have on my FICO score could well put me in a position where I will not be able to secure a mortgage at the rate a bank has already given me in a good faith estimate. I'm filling out the pre-approval forms to mail tomorrow and am prepared to put a bid in for a HUD house in Georgia by Friday. This could totally wreck my plans to move from being a renter to a house owner. So much for the Obama administration's attempts to help people like me move from renting to owning! Is this bank deliberately subverting the President's efforts to help us?

Company: Account Central
Country: USA
State: Illinois
City: Carol Stream
Phone: 8003797999
Site: accountcentralonline.com

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