Community Chat

[Itsokitsok]

GEMB at it again. They are lowering available credit lines again for those of us who have excellent credit. This is what was sent to me in an email response after I complained about them lowering my credit on a card which I carried no balance:

"We understand that the lowering of your credit line might be upsetting or inconvenient for you and we apologize that we had to take this action, especially since you are a valued customer.
Consumer losses are expected to increase as unemployment escalates. Banks throughout the industry are taking actions to limit credit exposure in the tough times predicted. Due to the current economic conditions and forecasts, we found it necessary to tighten up our own credit policies, including decreasing credit lines. This is not a reflection of your personal credit rating or our confidence in you as a cardholder."

Funny, I thought JB (VP) just stated we are well on the road to recovery!!!!!

QVC cardholders beware!!! QVC will suffer sales losses.