View Full Version : Credits



Thunder
04-01-2009, 02:30 PM
Okay, I'm curious to see if this is happening widespread or a picking game out of fear.

I have, or just now had, CareCredit that I was approved last year with mom as a secondary cardholder.

Previously, mom had one and she decided to get a loan from the bank to pay off her CareCredit and Visa. She still have her Visa, rarely charged. However, her CareCredit was closed (they thought she wanted it closed cuz of payoff).

With that, plus her great credit score, it helped me to get a 5,000 credit limit when I applied for CareCredit.

I've used about 1,500, been making payments on time, owe about 1,000. I kept the balance well below the 50% of max credit line.

Today, I told mom that she can go use the card to get the anti-heartworm pills for Lee, the doggy. Well, it turns out the card was saying Denied. She interupted my sleep, so we went back to that place, and my card was also saying Denied.

Now, I've already called the Customer Care Service and this is what they told me.

Credit Bureau contacted CareCredit (GE Money Bank) declaring me (not mom) as High Risk. Because of this, my account was closed. They told me that it was a liability to keep the account open due to the economy, despite the on-time payments.

Well, is this happening widespread? Are banks turning their backs aganist loyal cardholders?

jsibelius
04-01-2009, 02:36 PM
They are doing exactly that and more. Lowering credit limits, raising interest rates, etc. The card holder has done nothing but pay on time with that particular card. I've seen tons of stories just like that on the news. Sorry it had to happen to you too. Just keep pounding away at that balance and get rid of it.

Thunder, I would be careful how much information you're giving out about yourself and particularly your credit on this board. You might do well to disguise company names and amounts, just to protect yourself.

Thunder
04-01-2009, 04:09 PM
To me, it looks like the banks, their actions, are the main cause of the economy's downfall if they keep screwing up crap like this.