A store credit card gave me a $800 credit limit on my account. That's all well and good, until they lowered my credit to $600. As I had $650 on my account when they lowered it, is it legal for them to lower the amount below that which I have on the card? And, in turn, charge me penalties or allow it to effect my credit score? I have not received any notice, mail or otherwise, regarding the change. When I requested a higher limit, I was denied. What can I do, and is this legal?Answer Question
Answer by Anonymous at 7:42 PM on Oct. 11, 2009
Answer by dezandry at 8:38 PM on Oct. 11, 2009
Everyone-including companies are having hard times with mney.
And its no suprise to me that some companies would do this and try to get away with it.
In times like this i really encourage everyone to have a family lawyer available.
Not just cause I'm a broker of legal plans, but because it protects you.
It can be quiet stressful and costly if the company wants to play around.
next time around-you'll be asking your lawyer not Cafemomers lol.
Answer by Anonymous at 2:18 AM on Oct. 12, 2009
Answer by Anonymous at 4:37 PM on Oct. 12, 2009