Home Depot Credit Services
Credit Limit Cut From $16,000 to $8,100 Hurt Credit Score

I am furious. Home Depot did a room enclosure and failed to pull the proper permit. A neighbor turned me in. I worked with them, missed a lot of work, and it took a year to resolve it and get the code violation removed. In the meantime the real estate market went down. I expressed to them to hurry because I wanted to move, but the market kept declining. I am now upside down in my home, so I want to rent.

I was fixing up my home, and in the middle of renovations I got a letter stating that they were lowering my credit limit from $16,000.00 to $8100.00. My balance is $8029.00. Their reason? Because on my credit report I was close to my credit line on a few credit cards. Now look what they did. Is this going to be a snowball effect where other cards will do this because Home Depot took away my 50% debt to credit line? My credit score is now 650. This is sabotage. I called them and tried to reason, but the man could only say he was sorry.

I lost money twice from Home Depot. I will never shop there again. I built 4 homes and remodeled 6, and never applied for a card until 2002. I have always paid my debt with them, and my balance has been as high as 13k twice and paid off numerous times. Home Depot does not deserve my loyalty anymore. I never shopped Lowe's, but guess what: hello, Lowe's. Blue looks good right now, and I am off to see an attorney next week.

Company: Home Depot Credit Services
Country: USA
State: Florida
City: St Petersburg

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