I had my Old Navy and Dillards reduced to $100.00 from $500. I am really trying to understand what GEMB is doing. I pay in full each month. What is their formula to slashing good customers?

Banks not trusting banks, banks not trusting consumers, consumers not trusting banks, this is the most non-trusting cycle I have ever seen

I think the worst example of this is AmEx closing accts based on where you shop. Going by that logic, they should be able to stop merchants from accepting their cards in areas where defaulting cardmembers shop, then their defaults will go done...haha By by Walmart...

Banks not trusting banks, banks not trusting consumers, consumers not trusting banks, this is the most non-trusting cycle I have ever seen.

My partner got a $1,500 line increase on his Care Credit GEMB probably not more than 3 weeks ago. He got a letter today saying that they had closed his account. He called and held forever to talk to a rep that told him he would have to reapply to open the account. He said that they had closed a lot of accounts in March and that it was based on his Experian report.

The sad part is that GEMB is dragging good names, like JC Penney, through the mud. Most people would just assume that it is Penney's but it is GEMB that is cutting limits, increasing APR's etc. I miss the days when these stores issued their own cards.

Make sure you use it at least once every 3 months though or else GEMB will close the account for inactivity in a heartbeat.

I'm not going to close it, I'm just going to sock drawer it. There is no use in me charging on it, as it only has a $100 limit now. I used to use it for mainly back to school shopping. I have 3 kids so $100 won't buy much. It's useless to me now. I'm really not that mad about it anymore. I noticed more and more I am using cash for everything. It's better than dealing with these CC companies and their bull.

Wow, I am really sorry to hear that about JCP. I know it must be completely agravating to go thru that. The messed up part is that GEMB took some bail-out money and they're still playing these games with their consumers. But, I agree with everyone on the board, don't close the account, you will get your CL back in time.

Yes, it was equifax.

It was probably EQ since GEMB loves using EQ.

I just got a letter today from Jcpenny that they are decreasing my credit limit to $100. They said that i I didn't score well with equifax and that my credit cards were too close to their limits. I paid all my cards down to about 25-30% on every card in the beginning of february and it's still not showing on any of my reports! This is bs as I've paid on time every month and been very loyal to them! I will be closing this account asap

In the letter, did they tell you which bureau they used for the decision? If it was TU or Equifax those two are notoriously behind in reporting.

I agree interjack! I think that if she close it, she will loose a chance at restoration when her creditors post the current balance, so it is best to just wait until the cr update again and then ask for them to restore her initial, credit line (if not more). My sister card was reduced for a similar reason, they based their decision from the way she used her other credit cards...high utilization!

Your reports can be as much as 30 days behind. I would let all of those changes hit my report and then call JCP back and see if they can do a soft pull and restore your limit.

Don't close it, you won't benefit anything from closing it. You scores will stay afloat if you keep it open though. Credit history is far more important than credit limit in the long run.

I just got a letter today from Jcpenny that they are decreasing my credit limit to $100. They said that i I didn't score well with equifax and that my credit cards were too close to their limits. I paid all my cards down to about 25-30% on every card in the beginning of february and it's still not showing on any of my reports! This is bs as I've paid on time every month and been very loyal to them! I will be closing this account asap!