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New Contributor
Posts: 2
Registered: ‎05-24-2013

Anyone have their credit line lowered?

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..
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New Member
Posts: 1
Registered: ‎11-26-2015

Re: Anyone have their credit line lowered?

[ Edited ]

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.

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Honored Contributor
Posts: 53,646
Registered: ‎03-10-2010

Re: Anyone have their credit line lowered?

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...

 

 


In my pantry with my cupcakes...
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Respected Contributor
Posts: 3,338
Registered: ‎03-10-2010

Re: Anyone have their credit line lowered?

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.   

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Esteemed Contributor
Posts: 5,660
Registered: ‎03-09-2010

Re: Anyone have their credit line lowered?

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.

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Honored Contributor
Posts: 11,270
Registered: ‎03-09-2010

Re: Anyone have their credit line lowered?

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.

 

 

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Valued Contributor
Posts: 874
Registered: ‎07-05-2010

Re: Anyone have their credit line lowered?

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.

SerenityNow!
"Be as a bird perched on a frail branch that she feels bending beneath her; still she sings away all the same, knowing she has wings." ~Victor Hugo
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Honored Contributor
Posts: 53,646
Registered: ‎03-10-2010

Re: Anyone have their credit line lowered?

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...


In my pantry with my cupcakes...
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Esteemed Contributor
Posts: 7,394
Registered: ‎03-17-2010

Re: Anyone have their credit line lowered?

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...

 

 

*~Smile...... it makes the wrinkles go up.....Unknown~*
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Respected Contributor
Posts: 3,505
Registered: ‎10-30-2010

Re: Anyone have their credit line lowered?

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