Hey everyone... I'm so dog gone mad I'm spitting fire!! I've had a GEMB Old Navy account since 2002! 8 long years! I've been late maybe 3 times and they always forgave me and took it off my account. It was never reported to credit bureau. Well my credit is in the toilet because of a student loan that defaulted and was sent to collections. It has been being paid since January 2009, never late but still hurts my credit. I also have high debt to income ratio.
My problem with GEMB Old Navy is this: I had a CL of $520. I had $255.14 charged on it. At one time I had a CL of 1800, but I called and lowered it to $500 and they upped it to $520. Well on their last "review" of my account they decided to LOWER MY CL TO $260!!! SO now my account shows like this:
Credit Limit: $260.00
Avail. $ 4.86
This makes it look like I've maxed my card out!! I did no such thing!! How can they lower my CL to UNDER FIVE DOLLARS to the balance owed?! All they're trying to do is hope I forget to pay and then they'll get me on a late fee, over limit fee... OMG how can they get away with this?! I've turned them into the BBB but haven't heard anything. I called them and told them if they didn't put my CL back up by at least $150 I was closing the account and the foreign CSR, that I could barely understand, kept begging me to reconsider. They didn't up my limit so I closed it. I rather it show up closed than MAXED. I'm paying it off w/my next 2 payments... I'm so fired up about this! Please tell me if there's anything I can do!