Synchrony Bank/JC Penny Synchrony Bank/JC Penny issued me a card with a $500.00 credit line. Then lowered my score in November 2016 Orlando Florida
Snynchrony Bank/JC Penny issued me a store charge card with a $500.00 credit line. I had the card nearly six months and I have paid off the balance most of the time. Come November 2016 Snchrony Bank and JC Penny lowered my credit line to only $100.00 because they checked my credit score. They did not bother to check my credit score before the issed me the JC Penny charge card, that is working backwards. I closed the account because $100.00 currently at today's economy could be spent on a pair of shoes, or a pair of slacks, $100.00 do not buy anyone a whole lot so I closed the card. JC Penny also lowered the credit line to a JC Penny employee at the Trenton Store the employee told me herself. And JC Penny closed my Mother in Law's JC Penny charge card claiming it was not used enough. She has perfect credit score. Then JC Penny never tried with my mother in law to resolve the problem they never reopened her account neither JC Penny did not give her a new account either. All the JC Penny stores should close nationwide as it's clear to see that they don't care about their customers. They only care about how much money they take in the more the better, especially now between the two major holidays Christmas and New Years sales. Look at the poor JC Penny staff they have to get up very early for those CHristmas, and New Years sales because the (((redacted))) CEO and Managers are too cheap to pay for the major holidays. Christmas is about the birth of Jesus Christ that is waht the Christmas Celebration is about. Not about Making Sales and the stores to make themselves richer by those sales. I plainly can see where the phrase came from. Soon the fool and his money will be departed.
NO wonder the (((REDACTED))) are at the (((REDACTED))). They have a lot to be forgiven for including treating their workers or staff as slaves while the (((REDACTED))) Managers and CEO's sit on their but at home enjoying themselves the store employees have to work till 2 am during these early, lousy, sales!!
2 Updates & Rebuttals
Robert
Irvine,California,
USA
Credit
#3Consumer Comment
Thu, December 29, 2016
When a company issues you a credit card they are allowing you to use THEIR money. If they want to give you a $500, $5000, $5 or NO credit line that is THEIR choice. When you agreed to the credit card you allowed them to review your credit report at any time. You also gave them permission to adjust your credit limit. In your case they felt you now a higher risk and no longer wanted to take that risk and lowered your credit line. I can guarantee you that had they increased it instead of lowering it, you would not have complained about them checking your score. As for the other people you talk about, again same reason..they no longer wanted to take the risk so they adjusted/closed accounts as they felt necessary. After all it is THEIR money.
The fact is that by you closing that account with you claim a positive history, actually will cause you more damage in the long run because it removes a positive credit line from your report. So what if it is $100..buy the pair of shoes and pay off the balance showing them you can handle the credit. Then perhaps they will increase it again in the future.
But with your rant on their "slavery" and the employees I somehow don't think this is REALLY about the credit card. I doubt you are a competetor so I am figuring either a former or current employee or relative of one. Where you feel they didn't treat you or your relative "right".
Oh but before you even go down that road..NO I am not now or have I ever been an employee of this store.
Jim
USALook For Another Smokescreen!
#3Consumer Comment
Thu, December 29, 2016
It is their card and their account. They can decrease, increase or close the account whenever they like based on YOUR credit profile. YOU gave them permission when YOU agreed to the card. They an and do run credit checks even while you have the account and if you aren't paying another account on time, they can and wil, make changes in your credit line. Read the agreement YOU signed!