"Decreased My Limit"
Dillards™ Credit Card Review
Written by: aclove404 on 2008-12-23
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aclove404's review: 
My credit limit was $1100 never had a late pymt I rarely use the card decreased my limit to $100. That was not cool account has been open since June 2003.
My credit limit was $1100 never had a late pymt I rarely use the card decreased my limit to $100. That was not cool account has been open since June 2003.
13 Comments
Comment 1 by thomas1
DILLARDS 
on 2008-12-23
You're right, that wasn't cool! It's a well known fact about what's going on in the credit card industry today.
However, your tradeline has been open and reporting since 2003. That's a real slap, and could affect your utilization.
I would call Dillards and speak to a supervisor to see why it happened. Has anything changed in your credit report? I'm not so sure I would close the account being that it's almost 6 years old. That might hurt your scores more than the decrease.
Sorry to hear this, but I certainly would be picking up the phone and getting to the bottom of things. The maddening thing about this is that they know that this account has aged this far, and the consumer is still insulted like this! I don't know, if it was me, I would close it, cut it into tiny pieces, and mail it back to them.
Anyway, have a great Christmas!
on 2008-12-23 You're right, that wasn't cool! It's a well known fact about what's going on in the credit card industry today. However, your tradeline has been open and reporting since 2003. That's a real slap, and could affect your utilization.
I would call Dillards and speak to a supervisor to see why it happened. Has anything changed in your credit report? I'm not so sure I would close the account being that it's almost 6 years old. That might hurt your scores more than the decrease.
Sorry to hear this, but I certainly would be picking up the phone and getting to the bottom of things. The maddening thing about this is that they know that this account has aged this far, and the consumer is still insulted like this! I don't know, if it was me, I would close it, cut it into tiny pieces, and mail it back to them.
Anyway, have a great Christmas!
Comment 2 by mousepad
Dont Cry on 2008-12-23
Ok look at what you said (My credit limit was $1100 never had a late pymt I rarely use the card)
use it or loose it
its just that simple.
on 2008-12-23 Ok look at what you said (My credit limit was $1100 never had a late pymt I rarely use the card)use it or loose it
its just that simple.
Comment 3 by colonative
GEMB on 2008-12-23
I am surprised they didn't just close the account. They have been doing that lately.
Mousepad is right though, you need to try to keep all of your accounts active through the year. Even if you just go buy a pair of socks and then pay it off right away at the register.
on 2008-12-23 I am surprised they didn't just close the account. They have been doing that lately.Mousepad is right though, you need to try to keep all of your accounts active through the year. Even if you just go buy a pair of socks and then pay it off right away at the register.
Comment 4 by cireone
Dillards on 2008-12-23
Its just GE MoneyBank getting crazy cutting credit limits, plain and simple.
on 2008-12-23 Its just GE MoneyBank getting crazy cutting credit limits, plain and simple.
Comment 5 by wanderer
Dillards GE Money Bank on 2008-12-23
GE is not performing well in their financial unit. I had my "Men's Warehouse" account closed with no notice ($1,500 CL). Called, rationale you didn't utilize it. Going on, Juniper (Barclay's Bank) reduced my credit line from $1,250 to $500 based on the fact I under utilized the account. CLOSED the account and told them forget it.
on 2008-12-23 GE is not performing well in their financial unit. I had my "Men's Warehouse" account closed with no notice ($1,500 CL). Called, rationale you didn't utilize it. Going on, Juniper (Barclay's Bank) reduced my credit line from $1,250 to $500 based on the fact I under utilized the account. CLOSED the account and told them forget it.
Comment 6 by meya
Daaaang! on 2008-12-23
Oh, I am not shocked because they decreased your limit, its GEMB. I am shocked to see that you had a nice limit... Lol. JK, sorry to hear about that, but like everyone said, "Use it or loose it" and "GEMB is on a decrease and closing accounts mission"
on 2008-12-23 Oh, I am not shocked because they decreased your limit, its GEMB. I am shocked to see that you had a nice limit... Lol. JK, sorry to hear about that, but like everyone said, "Use it or loose it" and "GEMB is on a decrease and closing accounts mission"
Comment 7 by snicks
Me Too.. on 2008-12-23
Darn them...2 months ago they gave me an unasked for cli and then a couple of days ago they took it away... Lowered my credit limit to 100 dollars over the balance... I had actually been using the card this month for some Christmas shopping. Credit limit was 750.00 w a balance of 75.00. I added 200.00 this month for a total of 275.00. Credit limit is now 375.00... I am not even going to worry about why they did it. (I use the card and pay it regularly)
My credit report looks fine. Util on all accts is under 30percent. GEMB has now hit My Dillards acct and my Chevron in early Nov... The total that they have taken from my credit limits has been under 500.00... If they think that small amt is going to keep them afloat then let them take it..
I am going to do all my shopping at Kohls and Macys ! My Dillards card is going into the sock drawer with the Chevron!
on 2008-12-23 Darn them...2 months ago they gave me an unasked for cli and then a couple of days ago they took it away... Lowered my credit limit to 100 dollars over the balance... I had actually been using the card this month for some Christmas shopping. Credit limit was 750.00 w a balance of 75.00. I added 200.00 this month for a total of 275.00. Credit limit is now 375.00... I am not even going to worry about why they did it. (I use the card and pay it regularly) My credit report looks fine. Util on all accts is under 30percent. GEMB has now hit My Dillards acct and my Chevron in early Nov... The total that they have taken from my credit limits has been under 500.00... If they think that small amt is going to keep them afloat then let them take it..
I am going to do all my shopping at Kohls and Macys ! My Dillards card is going into the sock drawer with the Chevron!
Comment 8 by beanciapoo
What A Mess!! on 2008-12-24
I know how you feel. My limit was decreased with Dillards too. I started out with $200.00 last November. Then got $100.00 CLI then last month they knocked me down to $190.00 I only had a $90.00 balance when my account was $300.00 limit. I have a Kirkland card with GEMB too and it was total $400.00 and they pulled me down to $340.00 on that card. Old Navy from $450.00 to $190.00, Lord and Taylor from $200.00 to $100.00 and I am on 12 month no payment no interest with Lowe's. ($250.00/$400.00) and wrote me a letter saying they closed that account. But they are still letting me have the 12 month thing. Like I said I have never been late once with any of these or any of my creditors. I guess they are on a decrease spree.
on 2008-12-24 I know how you feel. My limit was decreased with Dillards too. I started out with $200.00 last November. Then got $100.00 CLI then last month they knocked me down to $190.00 I only had a $90.00 balance when my account was $300.00 limit. I have a Kirkland card with GEMB too and it was total $400.00 and they pulled me down to $340.00 on that card. Old Navy from $450.00 to $190.00, Lord and Taylor from $200.00 to $100.00 and I am on 12 month no payment no interest with Lowe's. ($250.00/$400.00) and wrote me a letter saying they closed that account. But they are still letting me have the 12 month thing. Like I said I have never been late once with any of these or any of my creditors. I guess they are on a decrease spree.
Comment 9 by kellbell
YEP on 2008-12-26
They did the same thing to me. Oh well, no one should be using credit at all these days.
on 2008-12-26 They did the same thing to me. Oh well, no one should be using credit at all these days.
Comment 10 by hawk
Same Here on 2009-01-02
I also have been cut by GE money some people are getting cut from $5000.00 down to $100.00 that's a big drop they must be in real trouble. Funny thing is they started this after the bail out. So my question is where are they putting the money. You can search the net there are tons of consumer complaints reguarding this lender. I have decided to keep these accounts and let them eat the cost of the account I won't do email bills with them. They have to generate paper pay postage I use the accounts every few months but pay them off befor interest hits to cost them interest fees. Best thing to do is use it every nowand then pay it before the 20 to 25 day grace period. Good luck sorry to hear about your GE accounts.
on 2009-01-02 I also have been cut by GE money some people are getting cut from $5000.00 down to $100.00 that's a big drop they must be in real trouble. Funny thing is they started this after the bail out. So my question is where are they putting the money. You can search the net there are tons of consumer complaints reguarding this lender. I have decided to keep these accounts and let them eat the cost of the account I won't do email bills with them. They have to generate paper pay postage I use the accounts every few months but pay them off befor interest hits to cost them interest fees. Best thing to do is use it every nowand then pay it before the 20 to 25 day grace period. Good luck sorry to hear about your GE accounts.
Comment 11 by cabana7
GE Money on 2009-01-07
I closed all my GE Money accounts... Dinged my score a tiny bit but I would rather not use them...
on 2009-01-07 I closed all my GE Money accounts... Dinged my score a tiny bit but I would rather not use them...
Comment 12 by sandyekay1
Dillards Lowered My CL on 2009-01-09
It's not use it or lose it... I had $1300 and they lowered it to $300. I have 4 GE cards... The rep said it's the economy and they lowered many people's CL.
Sure if you haven't used it in a year or so... Maybe Don't worry.
This too shall pass...
on 2009-01-09 It's not use it or lose it... I had $1300 and they lowered it to $300. I have 4 GE cards... The rep said it's the economy and they lowered many people's CL.Sure if you haven't used it in a year or so... Maybe Don't worry.
This too shall pass...
Comment 13 by sandyekay1
Dillards Lowered My CL on 2009-01-09
It's not use it or lose it... I had $1300 and they lowered it to $300. I have 4 GE cards... The rep said it's the economy and they lowered many people's CL.
Sure if you haven't used it in a year or so... Maybe Don't worry.
This too shall pass...
on 2009-01-09 It's not use it or lose it... I had $1300 and they lowered it to $300. I have 4 GE cards... The rep said it's the economy and they lowered many people's CL.Sure if you haven't used it in a year or so... Maybe Don't worry.
This too shall pass...
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Disclaimer: This content is not provided by Wells Fargo. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Wells Fargo. Review content is powered by Finance Globe.
