The harder I try, the worse it gets. I just got a letter from Household saying they were decreasing my credit line. I have only had my card 4 months and always make way more than minimum payments and always on time. The reason they state were revolving accounts utilization and recent derogatory info. What? It's the same exact info that I had on there when I applied. Now they lowered it to $5.00 below my current balance. Will I now get a damn over the limit fee too?
YES, YOU WILL BE OVER-LIMIT!!! CALL AND TELL THEM THEY ARE IDIOTS!!! Even if you pay today ON-LINE or by check by phone...you will get HIT with an OVER-LIMIT FEE!!!
I thought I wanted this card but now am mad enough to close it. If I close it, do I have to pay off the whole balance immediatly? I've been making big payments to another cc to get that balance down and don't think I could pay all of this balance at this time. They are jerks. I am still re-reading this letter in disbelief! After I calm down I will call and maybe PFB. I never seem to get far with the regular call in reps.
"MOST" cards do NOT have a "DUE IN FULL" clause upon closure...but some have a 22% (or higher) CLOSURE APR...
Now I'm getting nervous. I applied for new cards to help balance/ration and to transfer some balances. I now have 4 Household cards. I hope they don't do this to the rest of the cards.
when we close our card accts. we are told that we still have to make payments (duh, i know), but will not have access to any more funds. i never bothered to find out if they raised the interest rate or not. i didn't realize they even would. it's a long hard road to become credit savvy. but worth it. just don't cut off your nose to spite your face. do you need this card? how long has it been reporting on your credit reports?
It's the oldest of the 4 cards,got it in December. I admit, I applied too much, but they were approving and I though it would help in other ways. I don't need it but I also am worried if they lowere all my limits that I will look maxed out on 4 new cards,aaagh! Just shoot me now!
Will I now get a damn over the limit fee too? ginger2 ================= Probably:It's all part of the racket. A-50-C The END ************************* LB 59
Getting your limit reduced to $5.00 below your balance! That is bullsh1t! Predatory lending at its finest. Give them a call, you might get the overlimit fee waived as a "courtesy" since it was after all their fault. Then I'd pay it off and dump their dumb butts in a heartbeat.
