Hubby and I went to Lowes yesterday to pay the balance on his credit card. We were told during this transaction that his credit line was "X amount" which had been reduced by over $1000. Puzzled, hubby asks why his credit line has been reduced. The cashier didn't know so she gets on the phone with the card department. The lady on the telephone tells him "Oh, given the recent credit crunch, we have seen this a lot lately."
Hubby goes on to explain that he's had a Lowes card for many years (8 to be exact) and he's always been a good customer and he's never late. We have made several large purchases over the last few months so we have given Lowes plenty of money. The lady on the phone agreed and still offered no explanation as to why the "credit crunch" affected hubby's rating with Lowes.
Hubby cancelled the account right there!
It's pretty crappy of Lowes to do this to a good customer. If you have a Lowes card, I suggest calling to check on your account. You just never know.
