Consumer complaint received 2023-08-18
Company: TD BANK US HOLDING COMPANY
State: GA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
I am requesting assistance regarding the situation with Target Mastercard ( TD Bank ). 
Back in XXXX of XXXX, my line of credit was decreased from {$9000.00} to {$200.00}. I did not receive a letter that this major change was going to occur. I witnessed the change in my credit report. 
The credit card was used during the holiday. 
I returned some items and made a payment in XXXX where I believed that my balance was cleared. 
My statement was an e-statement, I do not frequently check email unless I know that I had a bill to be paid. The balance was {$9.00}. 
On XX/XX/XXXX, when I saw the bill, I immediately paid the amount and I changed my statement type to receive it by mail. 
I started receiving alerts that there was a change on my credit report and went to review the situation and saw the credit limit change. 
This was disturbing because this was not a large amount where I was not paying because I wanted to neglect my responsibility on purpose, it was because I was unaware. 
This damaged my creditability on my credit report, when I applied for a loan, I had to explain this incident. 
I opened a ticket with XXXX XXXX XXXX to work with TD Bank ( Target ) in XXXX of XXXX. 
This request to have my credit limit reinstated was declined, I was not offered any type of grace for the incident, my payment history was on time previously. 
According to the Fair Credit Reporting Act, the creditor shall provide written notice of any significant change such as this large decrease. The cardholder shall receive notice no later than 45 days prior to the effective date of the change. I never received any type of notice about the significant change before it occurred. 
Here it is XX/XX/XXXX, I have used my credit card and paid on time, and still the limit is still set as {$200.00}. 
I wrote a letter and sent it on XX/XX/XXXX to their XXXX, XXXX address and have not received any response. 
I would like to request assistance from your business to work with them to increase my limit. 

Thank you in advance with this matter. 

The letter information : TD Bank XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX, CA Dear XXXX XXXX : On XX/XX/XXXX, my Target Mastercard credit limit of {$9000.00} decreased to {$200.00}. Im a long-time customer and I really enjoy using the Target Mastercard. According to the Fair Credit Reporting Act, the creditor shall provide written notice of any significant change such as this large decrease. The cardholder shall receive notice no later than 45 days prior to the effective date of the change. I never received any type of notice about the significant change. The decrease in the credit limit has also caused damage to my credit score. Also, it caused other credit card companies to view me as high-risk. Im looking to get this issue resolved and have the credit limit increased back to {$9000.00}. 
Thank you in advance for your assistance with this matter. 


Sincerely,

Company response to consumer: Closed with explanation