Consumer complaint received 2019-02-21
Company: Bread Financial Holdings, Inc.
State: NJ
Product: Credit card or prepaid card
Sub-product: Store credit card
Issue: Other features, terms, or problems
Sub-issue: Other problem

Complaint:
Original Message Follows : -- -- -- -- -- -- -- -- -- -- -- -- Good Evening, While I don't plan on using this card as stated in my last communication with you, I've noticed that my Limit has gone down and this affects my overall credit score negatively. I am aware that some companies like XXXX XXXX  like to " Chase the Balance '' which is what I wonder is happening here and for what reason as I am paying monthly. I have no issue paying this balance off on Thursday and closing the account, however I'd like to know why my limit was lowered as the card has been in good standing with XXXX, regardless of my current score, I've been paying this card as I've agreed. This is a poor way to do business and hope there was an error, I would hate to have to do business with lender that has poor business practices in place. 
-- -- -- -- -- -- -- -- -- -- -- -- Response Message Follows : -- -- -- -- -- -- -- -- -- -- -- -- Thank you for your recent inquiry to our Customer Care Department. 
XXXX XXXX XXXX issues your account and responds to all credit related inquiries. 

I apologize for any inconvenience or confusion you may have recently experienced with your account. On XX/XX/2019, your credit limit was reduced to a total of {$300.00} based on information provided to our Bank by the credit reporting agencies. A letter was mailed to you on XX/XX/2019 to notify you of this change. If you have any questions regarding the information in your credit bureau report, please contact the credit bureau directly with the information provided on the letter. 

We hope this information is helpful. For the security of your account information, we ask if there are any follow up questions you have related to this concern, please click on the reply button. 


Sincerely, XXXX  XXXX XXXX Customer Care Team -- -- -- -- -- -- -- -- -- -- -- -- Original Message Follows : -- -- -- -- -- -- -- -- -- -- -- -- I never received a letter, regardless this is not a decision made by credit reporting agencies it is a decision by XXXX. This is a terrible business practice and I don't appreciate receiving a " template '' response, this just shows further how little your company cares about it's customers, one that is paying! My account is paid as agreed monthly and in good standing! Unlike others who may have " high risk '' and defaulted or can't afford to pay their debt. I would like my credit line to be reinstated as I have done anything wrong and pay my bill! Show me that I'm wrong about your company. Again, I don't plan on using this card but this does affect the very score that you and many creditors use to measure financial worthiness. 
-- -- -- -- -- -- -- -- -- -- -- -- Response Message Follows : -- -- -- -- -- -- -- -- -- -- -- -- Thank you for your recent inquiry to our Customer Care Department. 
XXXX XXXX XXXX issues your account and responds to all credit related inquiries. 

We apologize for any inconvenience or confusion you may have recently  experienced with your account. On XX/XX/2019, your credit limit was reduced to a total of {$300.00} based on information provided to our Bank by the credit reporting agencies. A letter was mailed to you on XX/XX/2019 to notify you of this change. If you have any questions regarding the information in your credit bureau report, please contact the credit bureau directly with the information provided on the letter. 

We hope this information is helpful. For the security of your account information, we ask if there are any follow up questions you have related to this concern, please click on the reply button. 


Sincerely, XXXX XXXX Internet Customer Care Team

Company response to consumer: Closed with explanation