Omg! This is scary!!

[Ima saver]

Yes, I saw Suze talking about this too. I had one credit card company lower my credit limit from $8500 to $300 cause I had not used the card in a year. What can you do with a credit line of $300? I haven't had something like that since I was 20.

[Alice in Chains]

Lowe's did this to me. During the holidays, we got our Christmas tree from Lowe's. My wife was going to pay cash for it, but didn't have her debit card on her. (she actually lost it, but that's another story)

I said I had a Lowe's account, $1000 limit, with about a $300 balance, so $700 available. Didn't have the card on me, they said they could look it up with a CA Dr. Lis. Meanwhile, the line is starting to form behind us while we're trying to buy a $70 tree. We go through all of this, only to be told it's been declined. WHAT?

So, I call.... they lowered my limit to $250. Yup, I was then over the limit.
I cancelled my card on the spot. F that.

[lennygaudy]

I wonder what the criteria they use for choosing which accountsto do this to is. Or maybe it's just certain cc cos that are doing this because I called my cc co on Monday to threaten with a balance transfer unless they lower their rate and they not only granted the interest decrease (gave me 5.99% vs. the 14.99% rate I had) but they also offered to increase my credit limit. I turned down their offer because it would have meant another inquiry on my credit but still I was amazed they even offered especially given I had he card maxed (@ 27k) for the past year and only recently paid it down to 12k. I guess it just depends on the creditor-this was AT&T Universal Card which belongs to Citibank.