Target National Bank Lied and Ruined My Credit Score Sioux Falls South Dakota
Target National Bank sent me a letter saying my credit limit was lowered and my cash advance limit was lowered based on information from information they said they received from "the credit bureau". They said "the credit bureau" reported "Ratio of Balance to Limit On Open Revolving Accounts" which is true, and "Number of Recent Severely Delinquent Accounts" which is a lie. I am 65 years old and in 45 years of credit have had only one account that was over 30 days late. I was waiting for an equity loan to pay this off and it was late being funded.
I sent Target National Bank a letter with a copy of my Experian Credit Report that shows all my accounts as Never Late with the exception of one in April 2007. As a result of their deception, my score has gone from 824 earlier this year to 732 as of March 1, 2009 and from Prime Plus to Prime. I'd like to know if I have a legal case against Target National Bank.
Beverly
Folsom, California
U.S.A.
1 Updates & Rebuttals
Dee
Florida,Florida,
U.S.A.
Beverly
#2Consumer Suggestion
Wed, March 25, 2009
Sorry to say but you do not have a legal case here. Your credit score is adjusted based on your rate of debt vs your balance. If your balances increased, your credit score decreases.
Also, you first stated you were never late on payments but then said you WERE late because you were waiting on an equity loan to pay off a card. You paid late, so your credit score decreased.
The bank did nothing wrong here.