Lord & Taylor(May Dept store)

Discussion in 'Credit Talk' started by SisterGirl, Aug 14, 2001.

  1. SisterGirl

    SisterGirl Well-Known Member

    I called their customer service recently for a credit guideline increase & was told "sorry".

    I fired off a letter to Planetfeedback to their offices & call was returned within 4 business days.

    I've had this account since 1996 & could not understand the reason for the decline.I was told that based on my recent TU report,that I was eligible for less than my current limit.

    May Company stores have 21.6 APR & 1/5 of balance due each month,but that does not bother me because they know I pay off whatever I charge in 3 equal payments.

    The girl I talked to was nice & sweet,but she must have thought this was my first trip to town;she attempted to "educate" me on thing I "invented"(but my come back was more than she was prepared for...she started stammering her words).

    I suggested her to take a look at my history of account over last 2 years & see my purchase/repayment history. I also asked her to review my most recent credit report they pulled to see that I have options versus using that almighty charge card(they don't even report limits...which we KNOW hurt).

    My Amex is accepted there & will be an alternate versus keeping them since I have engaged a negative interaction w/them.

    It appears to me that the only reason I would keep this card & use it will be that I can use it at other May Dept stores(Foley's is the other store I shop here in Dallas,Tx that is theirs...they don't accept AMEX).

    In closing,I advised her that I will make a decision & will notify of my decision in writing.

    Sister Girl
  2. $wealth$

    $wealth$ Well-Known Member


    I have this account also. There was a time when I thought about asking for an increase but decided against it for the reasons you outlined in your post.

    A while ago my credit was real bad. Some payments were late. In light of this, L & T thought it best to lower my limit to $200.00, but my balance was about $800.00. I did not bother at the time to dispute, I just paid what I owed until my balance was zero. I began to use that $200.00 limit and pay a little more than the minimum. This went on for about 4 months, at which time their computerize review kicked in and automatically up my limit to $ 2000.00.

    With some creditor it's better not request limit increases and just let the automatic review process do it's thing. I don't think they would have raised my limit had I requested it.

    Hope this info helps.
  3. SisterGirl

    SisterGirl Well-Known Member

    The funny thing about it is they raised me from $300.00 in 1996 to $2100.00 within a year,then changed it to $1200.00 when my online pymt MISSED paying them by 1 day(was I pissed). I have always went into the store & paid in person,but was testing Transpoint to see if it would deliver(cancelled them...why bother).

    From that point I paid them & cancelled the account due to the reduction of my credit line,then changed my mind & reinstated the account 3 months later.If they factor a score,then they should consider themselves at fault that they do not report a credit limit(which makes my current balance my credit limit...like Capital One).

    She stated that she would reinstate my account to the original amount(like I'm going to owe them that much.....N-E-V-E-R in this lifetime w/a dept store that only basically sells durable goods).

    The only good thing is that I can use it for purchases(furniture,electronics,etc. at another store they own without having separate account).

    Sister Girl

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