wherein something is VERY WRONG with Liz's credit card account

[edenfalling]

Today, along with my credit card bill, I got a letter saying that the company had hired another company (Trans Union Corporation) to review their accounts, and based on their findings, my credit limit had been reduced from $1,400 to $300, effective immediately.

WTF???

I pay my bills on time and in full every month. (The one and only time I let something ride, I paid the balance and interest in full the next month, when my cash flow had straightened itself out.) I pay my rent and electric bills on time and in full every month and always have. I have no student loans, no mortage, no car lease, nor any other form of outstanding debt.

And I do often use more than $300 of credit in a month, especially if I happen to be renting a car, which is the entire reason I got a credit card in the first place. (You cannot rent cars with a debit card. I think this is unspeakably stupid, but I don't make the rules.)

So I repeat: WTF?

They gave me the address of the company that made the recommendation. I am apparently entitled to a free copy of their findings if I ask within 60 days of receiving the letter, and I am also entitled to contest their findings if they are, you know, completely fucking nuts. So I am doing that.

The relevent section of the letter is, and I quote:

"Our decision to decrease your credit limit was based in whole or in part on information provided by Trans Union Corporation, a consumer reporting agency. The primary reasons provided by Trans Union Corporation which impacted our decision were:

Length of time accounts have been established
Too few accounts currently paid as agreed"

Since I only have one credit card account, which I have had for a year and a half now, and since I always pay 'as agreed,' I have a terrible feeling somebody may have applied for credit cards in my name and run up huge unpaid bills, and I may be in for a hell of a fight establishing my identity and disentangling myself from whatever morass some fucking bastard may have dropped me into.

...

My mom is visiting this weekend. You know what I am going to do while I have access to her car? I am going to buy a paper shredder.

(Yes, there may be a more innocent explanation, but I can't think of one offhand, and I figure it's best to prepare for the worst.)

Comments

[snaegl.livejournal.com]

Another possible explanation can be found here (http://www.smartbalancetransfers.com/blog/2009/03/fight-credit-limit-cuts/). Good luck getting everything sorted out quickly and painlessly.

[edenfalling]

*pokes around site* Hmm. I have no balance to transfer (since I just paid my current card), but I am seriously thinking about applying for a second card and either closing the current one or letting it gather dust. The aggravation of staying with my current company is starting to outweigh the inconvenience of setting up a new account.

[annearchy.livejournal.com]

I suspect snaegl is right. But someone might have applied for credit cards in your name. It happened to my friend rachet, apparently last summer, and she didn't find out until last week, after the bastard had rung up a large debt on several cards.

Good luck.

[edenfalling]

I hope it's just the company being bastards, but I would rather not bank on that being my only problem.

[doire]

It's code for "They pay it off regularly and we don't make enough money from them."


My secondary card, the one I used to use on the internet, has been sold to another company which means they can change all the terms and conditions without my agreement. It had really good insurance against fraud when I signed up and I suspect they had been trying so hard to get people to sign up to a "new, improved" card in order to lose that benefit. Ah well, perhaps I'll get round to cancelling it one day; I haven't got round to activating it.

[edenfalling]

Tomorrow (after my dentist appointment) I am going to call the various companies and complain, loudly. I am also going to complain to my bank (I got the card through them), and possibly also to the local Better Business Bureau and my congressman.

And then I will start looking for a new credit card, because hell if I want to keep giving these bastards my business, but they are going to by god hear from me before they succeed in getting me off their books.