M
Marlady
Guest
California, is where the bank is.I have been a credit card holder to The GM card for 6-7 years, never been late with my pymts.I rec'd 2 letter on 11/30/01 stating I was delinquent & in default with my Nov, pymt, therefore they not only decrease my credit limit from $6,500.00 to $686.00 which is what I owe on acct. I was outraged, 1st, I had not rec'd a bill for 11/01, usually when I rec the bill I make my pymt on the 8th of the month when it is due on the 20th of each month. I called the bank immedicately and stated what happened, they were cold, unprofessional and very abrupt. I made my pymt of $40.00 the min is $20.00 over the phone, and asked why my limit had been decreased, I was stated due to the number of revolving accts with bal & number of accts open each yr. I couldn't believe what I was told, when they themselves increased my credit last moth from $5,000 to $6,500.Since I was never late with my pymts how would they know what I could and could not pay. My credit is immacculate and want to keep it that way. As a good paying customer I thought if you were late with a pymt, the banks allowed you a one time default, which would not affect you dredit, and not have your credit limit be decreased in such a drastic way. Please advise as to my rights, so that I may take action. Thank you for your time. 