topic Re: Anyone have their credit line lowered? in Q Talk

Anyone have their credit line lowered?

Aprilgirl — Tue, 16 Jul 2013 23:46:13 GMT

I have been a member for about 20 years, and all of a sudden my credit line was drastically lowered...reason because I have not purchased enough or as often as they would like...anyone have this happen the them...I am really livid about this...my last purchase was in June and before that January...what is up with this....I will probably just leave altogether..

Re: Anyone have their credit line lowered?

Boss — Thu, 26 Nov 2015 14:42:55 GMT

I checked my balance today and found out my credit limit was lowered by one hundred dollars. I called to find out why and they had no answer so they said they would have someone contact me with the reasons why. I have had this account for about four or five years and was only late on a payment once. I asked for and was turned down numerous times for a credit line increase over the years. I recently received a card from one of their main competitors with a starting limit twice as much as QVC started me at.

So joyfully without hesitation I closed this account today on Thanksgiving 2015 Yeah!!

There are way too many other options out here in 2015, so as consumers we can be more selective about who we do business with and where we spend our money.

Re: Anyone have their credit line lowered?

stevieb — Thu, 26 Nov 2015 15:03:57 GMT

Interesting that as hard as they're pushing their card lately they would be so withholding, but I guess they have their reasons, or at least they think they do... I've never had a Q Card and will most likely never get one. At the height of my QVC shopping frenzy it might have been useful, but now that they offer so little of interest and I've essentially stopped watching, there's really no good reason to have yet another credit card with an exorbitant interest rate. The very first time I shopped at HSN I received an offer for their card and obtained one, which I now rarely use. After years and years of shopping at QVC, I think I received my first offer last year. Too little, too late... Good for you @Boss for cancelling your card. Who needs the aggravation of an ungrateful retailer...

Re: Anyone have their credit line lowered?

Sunshine Kate — Thu, 26 Nov 2015 15:11:25 GMT

Do any of you that got your credit line lowered, return a lot of merchandise? I wonder if they're trying to force heavy returners out? Or, make them upset so they will stop shopping at QVC.

Even if you were a heavy returner you could still use a check or another credit card, so that wouldn't make much sense.

Just trying to figure out their reasoning.

Re: Anyone have their credit line lowered?

KathyPet — Thu, 26 Nov 2015 15:30:54 GMT

Federal law requires that anytime a "adverse action" is taken involving someone's credit that the credit grantor notify the individual IN WRITING of the reason for the action. Lowering a credit limit is a "adverse action" so if you do not receive a letter they are in violation of the federal law.

Re: Anyone have their credit line lowered?

millieshops — Thu, 26 Nov 2015 15:43:46 GMT

I've had whole credit cards cancelled because I didn't use them often enough, so, yes, companies do this.

Because you said you rarely use the card, I don't understand why you're upset - in a way, having a lower limit protects you - keeps big thieves away.

If they didn't just cancel the card and you actually want to begin using it again, I would think they would once again extend more credit yo you assuming your current FICA supports a willingness and ability to pay.

By the way - if you're worried your FICA will be affected, I think you'd have to have lost a huge percentage of your combined credit limits before it matters much. The card Chase cancelled had more credit on it than all my other cards combined! Within 3 months, my FICA was actually up 18 points.

They did what I should have done years ago instead of just not using that card - And while I'm here - have to say I've never had a Q card because I just don't see the benefit although now that they do extra EZPays I undewrstand why some like it. Just don't get being upset if the card sits unused for the most part.

Re: Anyone have their credit line lowered?

Serenity-Now — Thu, 26 Nov 2015 16:43:01 GMT

When QVC started their recent campaign about their personal credit card offering 3 EZP on each & every item in their inventory, I sat up & took notice, and quickly went to their website to look at the terms. After my dh & I took a long time to carefully pay off each & every credit card, leaving only 1 for our purchases...I was shocked to see the terms listed on the QVC credit card, which amounted to at least 25-29% interest on every dollar spent. PASS! That isn't a deal, that is a rip-off. I would have signed up if they had had a reasonable interest rate, but that is robbery. I'm sure this post will be deleted soon, but it is an honest reaction to their offer, and shouldn't be censored IMHO.

Re: Anyone have their credit line lowered?

stevieb — Thu, 26 Nov 2015 18:07:28 GMT

I agree @Serenity-Now. Credit card interest across the board is too often excessive and should be capped but their interest rate is highway robbery...

Re: Anyone have their credit line lowered?

Q4u — Thu, 26 Nov 2015 19:36:30 GMT

I paid off and canceled my Q-Card years ago for various reasons and never looked back. I have no interest in getting on that treadmill again...

Re: Anyone have their credit line lowered?

icezeus — Sat, 28 Nov 2015 02:17:03 GMT

I never understand why people have store credit cards. The interest rates tend to normally be outrageous.

Re: Anyone have their credit line lowered?

sunshine 919 — Sat, 28 Nov 2015 02:47:36 GMT

I had a Kohls card, good standing. I went to use my card last year and could not. They closed my card because I was not using it. My response was so if you are not in debt you guys close the card? So I thought it would be a simple process to reinstate the card but nooooo I had to reapply. Are you kidding lol. Needless to say I did not apply necause I did not ask them to close it in the first place.

Re: Anyone have their credit line lowered?

Tantallum — Mon, 30 Nov 2015 02:37:54 GMT

to me there is no reason to have a Q card. No rewards! (EZ pay doesn't count...if I can't afford the item, still paying for it months down the road doesn't help me afford it).

Other credit cards offer things like a % cash/credit back, free shipping, extra coupons, etc. With the Q there is just EZ pay. no way, I will just use my discover card that has rewards and has an interest rate half that of the Q (if I did need to carry a balance).

Re: Anyone have their credit line lowered?

culebra — Mon, 30 Nov 2015 17:14:16 GMT

I noticed years ago that QVC's card had high interest. It is off putting.

Re: Anyone have their credit line lowered?

HappyDaze — Mon, 30 Nov 2015 18:30:57 GMT

@icezeus wrote:
I never understand why people have store credit cards. The interest rates tend to normally be outrageous.

And very few, if any, rewards. I don't understand it either.

To answer the OP's question- no, never in my life have I had my credit line lowered, even on a card I rarely use. I've never even heard of credit cards doing that. I would have thought that if you were doing something to the point that they'd want to lower it, they'd just cancel your card altogether.

Re: Anyone have their credit line lowered?

stevieb — Mon, 30 Nov 2015 18:46:56 GMT

@sunshine 919 wrote:
I had a Kohls card, good standing. I went to use my card last year and could not. They closed my card because I was not using it. My response was so if you are not in debt you guys close the card? So I thought it would be a simple process to reinstate the card but nooooo I had to reapply. Are you kidding lol. Needless to say I did not apply necause I did not ask them to close it in the first place.

Same experience with Kohl's and also with Pier One. I got a new card with Kohl's, which now too has probably been closed due to inactivity. Every time I go to Pier One they try to get me to open a new card. I always mention that maybe they shouldn't have closed out the last one, and then decline their offer for a new one.

Re: Anyone have their credit line lowered?

deenow57 — Fri, 26 Feb 2016 16:01:03 GMT

yep, they just cut mine in half. That was the kick in the pants I needed to not ever shop QVC again.

....

debic — Fri, 26 Feb 2016 19:02:17 GMT

LOL, I got a notice last month that my Mother's credit card was going to be cancelled if she didn't use it. She died 4 years ago and I closed out all of her bank accounts.

Re: ....

blackhole99 — Fri, 26 Feb 2016 19:16:37 GMT

As far as I know the QCard people have not cut back the amount of my line of credit. I always pay my monthly balance in full, but regardless I'm not happy about the high interest rate. I have been using a card for Q purchases lately that has an interest rate that is a fraction of the QCard and gives cash back also. I know the banks like to make money on people who carry a balance, but this interest rate is criminal.

Re: ....

Bird mama — Fri, 26 Feb 2016 21:50:30 GMT

I don't have the Q's card. I do have a Home Depot card that was lowered because I didn't use it as often as they would have liked. As a matter of fact, I received a letter telling me that if I didn't use it by a given date they would lower the credit limit. I figured go ahead, lower it.

Re: Anyone have their credit line lowered?

lucymo — Sat, 27 Feb 2016 01:35:08 GMT

I have never had a cards credit limit lowered but then I no longer have a store card. I just use a major card that offers rewards.