A friend just called me and related that his Target Visa cl was reduced from 6k to 2k. The offical explaination is that there is a bk listing and the lack of credit usage. A bit of history is needed here. He filed bk-7 in 1996 and has maintained excellent credit history since than. As a matter of fact his old Providian account was sold to Chase and since than Chase has increased his cl twice. At the time he was approved for the Target Visa the bk was listed so that reason that they gave him is bunk. The only reason that I can think of is that he has stopped using his Target Visa since early this year. As a matter of fact he has a zero balance since then. He has been on a debt reduction plan as he was on a mortgage hunt. He's pretty steamed about his reduction and wants to cancelled the account. I told him that a positive tradeline is a positive tradeline. He is wondering if they will cancel his account if he does not put a charge on it. He is also concern that Cap 1 will also pull a similiar stunt as the Cap 1 is his oldest tradeline. Any thoughts? Best regards, Mirage
"IF" it is necessary to keep the card...FINE...if not JUST CLOSE IT!!! They don't want the business...THEY WILL LOSE IT!!! Reducing a credit limit is a REAL BAD THING IF YOU EVER "MAXED" THE CARD!!! example... HIGH BALANCE $10,000 CREDIT LIMIT $6,000 YOU DID HAVE A CREDIT LIMIT OF $11,000 BUT THEY DROPPED YOU TO $6,000 SO A NEW CREDITOR LOOKING AT THAT WITH THEIR EYES WOULD "ASSUME" THAT YOU WERE $4,000 OVER LIMIT!!!!!!! EVEN IF YOU WERE $1,000 UNDER THE LIMIT!!! CALL AND ASK FOR IT TO BE RAISED BACK UP~~OR CLOSE IT "IF" YOU DON'T NEED IT
George, he has a zero balance. I think he is going to drop them. It's a crappy way for Target Visa to act. Best regards, Mirage
They did the same thing to me. Lowered my limit from $6000 to $4900, complaining about a charge-off from 1999 that was on my report when Target gave me the card in 2001. They refuse to reinstate it too. Perfect history. I hate them so.
TARGET (RETAILERS NATIONAL BANK) is going some strange things to customers lately...IF THEY ARE "AFRAID" OF THE CREDIT CARD BUSINESS...THEY BETTER GET OUT!!!
Target Visa gave me an insulting $500 limit 4 months ago which was the lowest card I ever received. They would not raise it at activation said had to wait 6 months this despite I had a 10% off new customer coupon and was buying $1500 in patio furniture. So I used it to get a tire replaced when I had a flat paid in full and have not used it since. They will probably lower mine to $250 ... They appear to not want to be consumer friendly, and I take my business to Walmart instead!
They also REFUSE "CUSTOMER REQUESTED" limit inceases...so I was told many times...although I did get a JOKE $500 increase. They told my wife that they do 100% AUTOMATED LIMIT INCREASES...They "LOOK" every 6 months or so to "SEE" if you get one...SURE THEY DO!!! ME $500 INCREASE HER $0 INCXREASE
Re: Re: Target Visa CL reduction Hey George, I call in and get $700 increases every 6 months. No questions asked.
Re: Re: Re: Re: Target Visa CL reduction You can try this # 888-755-5759. I am thinking that this # no longer works for increases. I don't remember. Other than the main 800 # the only # I have is 1-888-304-4000.
Re: Re: Re: Re: Target Visa CL reduction One # I posted (A YEAR OR SO AGO) is an "INTERNAL" EMPLOYEE LINE (when the computer says call for auth #) The other # is just a customer line (on the back of the card)
Re: Re: Re: Re: Target Visa CL reduction The only reason I would want MORE is for DEBT TO CREDIT LIMIT RATIO HELP... I don't really need the card...(IT IS A "BACK-UP CARD)...SOCK DRAWER... MY PRIMARY CARDS ARE BANK ONE UNITED VISA AND AMEX DELTA GOLD...
Re: Re: Re: Re: Re: Target Visa CL reduction I use my Amex Delta Gold daily. I just got an increase on that one to $20,000.
