I applied for and was issued a Target Guest Card in Sept. 2000 with a limit of $200, right after I filed bankruptcy in 1998. Two years later, I received an upgrade to a Target Visa with a limit of $4000.
I was told it was due to a review of my account management, and it was excellent, never being late and always paying more than the minimum.
Months after that I received a credit limit increase of $400, for the same reason, excellent account managing. A few days ago, I received my statement reflecting a significant payment I made of $610.
Attached to the statement was a letter which indicated, "We regularly review all of our credit card accounts.
As a result of a recent review of your account, we have adjusted your maximum credit limit to $3800, effective immediately.
This new credit limit is reflected on the billing statement you have just received."
Now based on them reviewing my account before, they increased my credit limit 2 times, and what existed in my credit files existed each time they increased my limit.
I spoke with a supervisor, Marsha, who said she couldn't understand why they would reduce my limit either based on the facts I presented above to her.
She told me to write a letter to the "Account Review" department explaining the situation, and see what happens. I did just that and faxed it on June 18.
I called June 23 to see what the outcome was, and I was told by a representative that the fax had not been reviewed yet, and to call back tomorrow.
June 24 I called, and I was told that the fax was received, reviewed, and the request to reinstate my limit to where it was, was declined.
I asked if I could speak with the department responsible for making the decision to decline my request, and the rep. Told me I had to wait for the letter and then call back.
I told her that sounded absurd, and I thanked her for doing her job, but I requested to speak with a supervisor. She transferred me to Gayle, a Customer Service supervisor.
I explained the situation to her, and she said they could not discuss my account over the phone, that's why they sent out a letter.
I asked her then why I was told to call back after I got the letter if they weren't going to discuss it with me over the phone.
She said the letter had detailed information that should be clear enough for me to understand. I told her I understand exactly what happened, I just don't understand why a company I've been very loyal to is not being so loyal to me.
Why they have made a decision to decline my limit based off of old news. I told her they have the decision-making power to increase, decline or leave steady a credit limit, and that if someone reviewed my account, as the letter stated they did, I think they would have definitely made the decision to increase my limit, regardless of what my credit file indicated.
All of my accounts on my credit file have been paid on time for the past several years. Gayle said they have to obide by Visa regulations and according to the bureau, they had to reduce my limit.
I asked her for a copy of those Visa regulations that indicates they need to make a decision like that based solely off a bureau report of an existing account which is in excellent standing.
She said they don't practice giving out that information, but I could go to their website. I asked for their web address, and she couldn't give me that information either.
So, I requested to speak with her supervisor, which I was told was David O'Neal. She said he was not in today, but she could transfer me to his voicemail.
I left him a message explaining the aforementioned. While I was searching for the Visa regulations on the website, I stumbled across this website, "Ripoff", and saw that "Sherry" had a similar situation happen to her.
I thought it to be peculiar that the exact same incident happened to someone else just 1 month prior. So I decided to expose them myself. Maybe enough complaints will warrant a change in their practice of existing accounts.
I'm trying to build my credit back up from that awful bankruptcy, and they are reversing all of my efforts just by the switch of a credit limit.
I'm currently trying to purchase a home, and the home I'm currently renting has just been foreclosed. This is just terrible for them to treat consumers like this, and not reconsider after begging and pleading with them to review the situation.
Anyone can see that the decision was computer generated, because it would be totally inhumane to make a decision like this with all the evidence pointing at a faulty system that doesn't check your credit files before issuing an upgraded card for such a large amount in the first place.
Surely there's a way to override the decision, but according to each supervisor I've spoken with so far, there is absolutely no way what-so-ever this decision can be reversed.
Signed, Irritable Credit Builder.
Shaun
Milwaukee, Wisconsin
U.S.A.
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