Lowes Credit Card PSA

[Chasey_Lane]

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.

[GeezLouise]

Originally Posted by Chasey_Lane

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.

They did that to my husband's card, too....I HATE dealing with Lowes.

Originally Posted by Chasey_Lane

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.

They did the same thing to us and we went and bought what we needed with cash at Sears. Not a better place but that was seriously shiatty of Lowes to pull something like that and not even send a letter out to us and tell us. We also canceled our account with them. I refuse to by anything big from them again.

[onebdzee]

Do they charge a fee if you go over your limit?

[Chasey_Lane]

Originally Posted by GeezLouise

They did that to my husband's card, too....I HATE dealing with Lowes.

Recently or a while ago? The cashier thought that maybe they were going to issue a Visa card instead of the Lowes credit; but we haven't received anything in the mail.

[Chasey_Lane]

Originally Posted by onebdzee

Do they charge a fee if you go over your limit?

I dunno, we've never gone over the limit.

[GeezLouise]

Originally Posted by Chasey_Lane

Recently or a while ago? The cashier thought that maybe they were going to issue a Visa card instead of the Lowes credit; but we haven't received anything in the mail.

It was about 3 months ago. I just happened to catch it on his statement and when he called to ask why and they gave the same deal, so he just canceled his account with them. They also said that there was no recent activity on the account so maybe that's why they lowered the limit....however, it had only been 3 months or so since we had used it, so it wasn't like it was a long time that the card hadn't been used. They were giving us the run-around.

[BS Gal (Premo)]

I hope DR takes his blood pressure meds before he sees this. Lowes is his home away from home.

[USWWarrior]

Originally Posted by GeezLouise

It was about 3 months ago. I just happened to catch it on his statement and when he called to ask why and they gave the same deal, so he just canceled his account with them. They also said that there was no recent activity on the account so maybe that's why they lowered the limit....however, it had only been 3 months or so since we had used it, so it wasn't like it was a long time that the card hadn't been used. They were giving us the run-around.

Earlier this summer, I had the same thing happen to me with my VISA's. I had 2, both had $0.00 balance, both had not been used for about 3 months and neither were never late. As I checked my mail, yes I open the bill knowing the balance was zero, I saw they reduced my credit limit on both cards. Mind you, this was 2 different banks.

I called, they could not offer a solid explanation. I cancelled both account right there. Said I do not like doing business with companies that do not take the time to notify good-standing customers. I mean a simple form letter would have been enough for me. Telling me, because of this or that, we reduced your credit limit. But for me to find out without a courtesy notice, I told them to keep there credit, I didnt need it.

Now to my point, that was early in the summer, way BEFORE this current crisis. That tells me the banks KNEW this was going to happen and began circling the wagons earlier this year.

Uhmmm, where was the white house and congress earlier this year. If the banks knew it, I bet they did.

[desertrat (Premo)]

Originally Posted by Chasey_Lane

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.

Screw 'em, they can keep their 21% card. I wonder how the heck they think selling less stuff is going to help business?