This is wierd, after account review, JC Penney is decreasing my limit from $500 to the balance of my bill. A wopping $160. ( I haven't even got the bill yet.) I only used my card 2 times in a year, and paid off the first balance ($40) when the bill came. I have no negative credit (pulled a report today) but I use my cards and I do have balances, and always pay early. JC Penneys reason: To many cards with balances, length of credit history. My score is 692. Has this happened to anyone else here? Geeze, I recently had a couple of major card companies increase my limits without me even asking.
JC PENNEYS does that if you don't use the card "LOTS"... My wife's limit is like $600...it WAS $3,000+
I don't understand the rationale behind lowering already established credit limits if your account is in good standing. That's like Penneys telling me that they don't want any of my business if they can't have all of it. Ozzy who just opened a JCP account last month.
jamie, I have JCPenney Card for almost four years and I used the account for two or three times. They haven't decreased my accont limit. I used it to buy clothing and grocery from Eckerd. I noticed they did account review from Equifax credit report every three months like other Monogram Card accounts that I have. Ron. Ron.
