The complaint has been investigated and
resolved to the customer's satisfactionResolved First Gulf Bank — credit limit decrease
resolved to the customer's satisfaction
To make a long story short, I one day found out that my credit card account had gone down to just about -8000 (That's negative eight thousand). My credit limit had apparently been reduced.
The reason? I wouldn't know — because I was never informed.
To make matters worse, the bank had been asking me to pay the minimum amount due, calculated against the total outstanding balance which had accrued finance charges.
It's like all of a sudden the bank decides to cut off my purchasing ability and make me pay the outstanding amount off.
If that was the way I would've wanted it to be, I should have gotten a personal loan instead!
Have you ever heard of a credit card which you cannot use for credit? The card now is completely useless.
I understand there's a recession and all, (And this bank is probably going bankrupt.. Oh haha, funny!) but this is just insane.
I'm sure somewhere within the annals of this country's law books, this can be characterized as illegal.