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WalMart Credit Card / credit limit decrease

1 Huntington, WV, United States Review updated:
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I have had a wal-mart credit card for approximately three years. Always paid on time,twice has been paid off. Here's the nightmare!! I make a $1,300.00 payment in october, another minimum payment of $45 in november, and dec 07,2007 wal-mart and ge money bank decide that i need a credit limit decrease,because i got a loan from american general finance, part of which i paid them with. Luckily, i had already shopped for christmas!!! No one from this company will respond, other than to say that after a review of my credit report, i "needed" a credit limit decrease. This is sick!! I guess we punish those who work hard, and pay their bills on time in this country. Congress, should put an end to the crappy treatment of consumers in this country by the credit and banking industry. They suck!!!

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Comments

  • An
      10th of Mar, 2008
    -2 Votes

    Chances are you got a letter explaining why they lowered it. Too many credit accounts in your name? A couple of delquencies on accounts? Who cares if you paid off this particular card...what happens on everything else affects ALL credit. If you were late on a phone bill it affects your credit cards? Hrmmm little known fact huh? They made a business decision because of information they received from the credit bureau that YOU were too much of a risk to them. SOOOOOOO they lowered the limit. The enemy isn't them. The enemy is the credit bureau.

  • Br
      18th of Oct, 2008
    0 Votes

    They did the same to me. In addition... They decresed my limit below my outstanding balance. I was told that if I did not pay to bring the balance below the now lowered limit, I would be charged over-the-limit fees.

  • As
      11th of Nov, 2008
    +2 Votes

    I have had two credit cards with GE Money Bank. never late on ANY payments. My credit rating did not decrease, it actually increased. But, GE felt the need to decrease my credit limits. One to only $100.00. What I'm I going to buy for $100, that I can't pay cash for????? Give me a break!!! I have since paid off all of GE's card and closed the accounts. If they are going to punish me for their mistakes, then they are not going to make money off of my interest nor are they going to get my business.

  • Ho
      28th of Jun, 2017
    0 Votes

    @Ashley They just lowered my account as well from 1000 to 350 and my credit has taken a few hits but now has increased over the last month. So, I figure, no biggie. Pay the last of it off, and close it. I have been with them for about 2 years. Note to self, no matter what offers they send me, then don't open it up again. There are other cards.

  • Fe
      21st of Nov, 2008
    0 Votes

    The same thing happened to me. I have been with them over a year, made on time payments, and was given a credit decrease. They said this was due to info they saw in my credit files. I told them to take the account and shove it. I thought that was crap!!!

  • Co
      4th of Dec, 2008
    +1 Votes

    Look at all the other companies decreasing credit lines. If you want to have future access to your credit cards then don't complain. People rely on credit cards WAY to much these days. Creditors are going to keep decreasing the amounts they are letting people borrow because of the state of the economy. Your credit scores may have increased, but with the credit line decreases you have to have a lot higher score to maintain the credit line you previously had. For example, if you had a credit line of $1000 with a FICO score of 650, you now have to have a FICO score of 680 to have a credit line of $1000. This is not fraud or illegal and creditors basically have the right to do whatever they want with your credit line. FYI IT'S NOT YOUR MONEY...it's the banks money that you are borrowing so start paying with YOUR money and don't rely on a credit card for purchases.

  • Ma
      20th of Dec, 2008
    0 Votes
    Wal-Mart Credit Card - Dissatified Customer
    United States
    marycwalker62@yahoo.com

    I had a wal-mart money card and I didnt get a chance to get all my money off of it I dont want another one because I just had 25.00 on the one I had and I just got 20.00 off of the money I put on it myself I tried to call about it they said they will take 2.00 off if I call. I dont want another one.

  • Mo
      2nd of Mar, 2009
    -1 Votes

    I just had walmart in November give me a increase... they sent a letter and said that after reviewing my history i get a limit increase... cool i thought ... I didnt really use it that much for xmas because if it wasnt in my checkbook to pay for things i just didnt get it. anyway i received another letter on feb 27 that i was considered a risk and they were lowing my credit card limit... of course i asked why would they increase it then just 2 months prior... they didnt give a answer and i havnt opened any new accounts or loans to change my credit rating... all i did though is cancel my card on the spot and told them since they thought i was a risk that i wouldnt have them suffer any more thinking that i was a bad customer because i paid off my card after everypurchase... i also advised them that i would never step foot in walmart again ... i actually shoped at my local store and saved the same as i would of at walmart, and i spent less in gas to get there... my husband was grateful that i am banning walmart he hates going in there and he hated how the associate called us a risk when our credit report is fine and we never abused our credit line... spent over 5 grand last year there for groceries... now it will all go to local supermarkts ... walmart you are the risk and GE banks... oh yeah best of all i had one other GE bank card that it was my pleasure to cancel out and they asked me the reason and i said because your company thought i was a risk for the walmart card so why would this one be different...

  • Mi
      6th of Mar, 2009
    +1 Votes

    I totally agree we have had walmart card for several years now always paid on time and paid off a few times in full we also got the decrease in our limit letter . we have had three times the credit open in past years now very few open and they say we need a decrease, needless to say we will not use that card, but will not cancel it that decreases your credit score...Missy

  • Un
      6th of Mar, 2009
    0 Votes

    Wal-Mart didn't make the decision; GEMB lowered it due to information it received from Equifax. If Equifax sent false information, then dispute it and GEMB will restore the amoutn of their money they allow you to borrow.

  • Mi
      9th of Mar, 2009
    0 Votes

    I agree, however I will not stop shopping at walmart just won't use the charge card to purchase from there.

  • Mo
      10th of Mar, 2009
    +1 Votes

    yeah i wondered if it would of lowered my credit score... but over the weekend i went to bank and was approved for a 15, 000 car loan in a matter of minutes ... my bank thought it was funny i closed out a card... gm thought i couldnt handle 480 dollar limit but my bank trusts me for 15 grand...hilarious gm ... gm loss not mine..

  • De
      17th of Mar, 2009
    0 Votes

    I stopped using credit card. Debit cards and not to worry anything about it. The only time I use credit card is when I rent a car, since some rental agencies need credit cards.

  • Ee
      4th of Apr, 2009
    0 Votes

    GE bank also just lowered my credit limit on a major department store card (to $150- what am I going to buy for this amount that I can't use cash for?). My credit score is better than it was 10 months ago when I opened this card. If fact, it is better that is has been in many years (it went way low because I was disabled and out of work). I'm back on my feet now and working very hard to pay off my debt. I an incensed at the letter GE bank sent me- if it didn't lower my credit score, I would close the card. I will definitely be sending them a very tersely worded letter! Isn't it lending practices like this that has our country in this economic crisis? Maybe GE Bank is one of those companies about to go belly-up. That would give me a little satisfaction!

  • Wa
      7th of Apr, 2009
    +1 Votes

    Do NOT get a Wal-mart card. I have a Wal-mart Discover card with a $2000.00 credit limit. I have used is everywhere - not just at Wal-mart. I received a letter today stating that my limit has been DECREASED to $1000.00...get this...for no reason other than they just wanted to. I have not ever missed a payment, been late, or gone over the limit. Nor do I have any other account on my credit report that has had any negative account history. It is not because of inactivity either. I just read a web page that had at least 20 people complaining about the exact same thing happening to them. I was about to purchase a riding lawnmower from their website, but they can forget about it now.

  • Ca
      18th of Apr, 2009
    0 Votes

    Like most of you, I also have a Walmart Card. I applied for it 10 mths ago and was pleased they approved me and gave me a 800.00 line of credit. I had some bad debit from a ex, 6 yrs ago. I have been building up my credit and credit score. In any case, I have not be late on any payments of any kind in years, 9AT LEAST 6 YRS, ) always pay double the min payment or more on all my cards. Five months ago, made a large charge for new kitchen cabinets, counters, etc. Have paid half of that off (5, 000), paid a car loan off 2 months ago, and paid my house off. No more new credit, no more large purchases. Yesterday I'm notified my credit limit on Wally worlds card is dropped to 170., but my balance is 400. My credit score is a mess and when calling them they sighted some bad credit from years ago. I had that when they gave me the card. When I spoke to a supervisor he was rude, and told me they changed there policy on there credit approval rating. He did raise my limit to my balance, but as I pay the balance off they will drop my limit amount. Yep, I sent a check paying them off. I don't need something like this to mess up my credit score I have worked hard at repairing. I don't believe I will be shopping much at Wally World. I didn't cancell the card, as that would also hurt my credit.

  • Pm
      6th of May, 2009
    -1 Votes

    I have a Wal-Mart store card, but they hit me with an interesting wrinkle that just dawned on me. I had a $700 credit line, but two months ago they increased it to $900. What I didn't notice immediately is that while they increased the credit line, they did NOT increase the available credit -- which means that all they really increased was my outstanding balance, giving them more to charge interest on. When I called them, they told me that this was "definitely not their intent, " and "this is not considered fraud, " and "it is entirely legal." After going through five levels of phone support, I had no choice but to cancel the card.

  • Bg
      18th of May, 2009
    0 Votes

    The Same thing happened to me Walmart cc lowered my credit limit for no reason...The only thing that I've done recently is try to find a home loan... In any case walmart just lost a loyal paying customer.

  • Cr
      29th of May, 2009
    0 Votes

    This happened to me today! I had no idea they had decreased mine...until I was at the checkout. I had just made a $300 payment at the first of the month, so I knew I was okay. Well it was declined. I call the company and ask the lady what was going on, I told her I had made a huge payment, considering my credit limit was at $400 or something like that. She says oh we decreased your credit limit and now you are over your limit! very cute! :( I wanted to chew her out, but it's not her fault. Ugh! I will be canceling this card. Thieves! I pay on time and pay good size payments and bam they slam me with this crap! So much for being a great customer...what does that mean anymore?!

  • Ca
      15th of Jun, 2009
    0 Votes

    The same thing happend to me I had a sams club card for about 5 years got it about my second year in college to help re-establish my credit used it on occassion never over $100 until i bought a gps with it for my trip to florida purchase was $300 it took about 4 months for me to finally pay it off then i bought a 22" hdtv about $300 i paid that off in about 2 months. After my contract ended i moved back to michigan and i find that gps has lowered in price and since sams has that excellent return policy(basically u can retrun anything at anytime) i returned my $300 tomtom and bought the $170 one giving me a $130 surplus on my credit card. and thats when I just so happen to come across a envolpe that looked like it should be in the trash from GE Money i opened it and it said your credit limit has been lowered to $100 what the hell am i going to do with $100 i call them they claim that it was because of something on my credit report i tell them that cant be true because all my bills r paid on time nothing on my credit report after i started re-establishing my credit 5 years ago is late or delinquient all my unsecured debit is less than 80% of the credit limit they told me that it didnt have to be recent so i just told them to cancel the card it was unless to me anyway it had a horrible interest rate over 20% and a $100 limit is either going to cost me money(interest) or im not going to use it so i thought it best just to cancel the card screw GE money the only thing was that I wanted to use that card to pay for my tires cuz sams had a special no interest for 6 months but oh well. My issue is that they seem to cut ur limit when you pay ur bills on time and u arent thousands in debit so screw the banks and the credit card companies regulate them out of business I say!!!

  • Da
      15th of Aug, 2009
    0 Votes

    Thank you thank you thank you. Was just about to get one ! You saved me :-)

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