GE Money Bank / Credit Card Lowered limits and closures
I received notice from Sams Club Discover (GE MONEY BANK) that they were lowering my limit from $4500 to $140. (I owed about $100.) I immediately paid the balance off. I then received a letter that they were closing the account. The reasons for lowering the limit and closing the account were "Months since last delinquency" found upon reviewing my credit report. I had just ordered a copy of my credit report, and have NO LATE PAYMENTS EVER.
I just received a letter from JC Penney (GE MONEY BANK) has lowered my limit from $500 to $100. I owed them a balance of $47. The reason again was "Months since last delinquiency". I have good credit, and have never paid them or anyone else late. I called the # and asked why they did this, and they told me to get a copy of my credit report. I have a copy in hand, as I am trying to buy a home. There are no late payments or anything negative on my report. This is an unfair business practice, and stupid. I have been a good customer, and am not a bad risk. Shame on them.
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