Consumer complaint received 2020-04-19
Company: TD BANK US HOLDING COMPANY
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Trouble using your card
Sub-issue: Credit card company won't increase or decrease your credit limit

Complaint:
To Whom It May Concern : Approximately back in XX/XX/XXXX, TD Bank N.A. sent me a letter informing me that since I had not been using my TD Bank credit Visa card they were going to close my account. I called to inquire if the high interest rate on my card could be lowered, to which they stated nope.  Nonetheless, their letter encourages its clients, XXXX XXXX Clients, which I am, to keep our cards open for its " perks! '' I went ahead and  used my card to make a {$39.00} purchase in XX/XX/XXXX. I made a {$25.00} payment in XXXX, but I forgot to pay off the remaining balance of approximately {$14.00}, which resulted in a late charge. TD Bank agreed to reverse the late charge, and I promptly paid the remaining balance of XXXX ( XXXX + XXXX finance charge ). 

I also received another letter, dated XX/XX/XXXX, from TD Bank indicating they were reducing my {$5000.00} credit limit to {$600.00}. Their reasoning they claimed was based on too many late a poor payment history. They stated they obtained this information from XXXX. They also repeatedly stated via the phone that the reporting credit company, XXXX, is the company responsible for reducing my credit limit of {$6000.00} down to {$600.00} with TD Bank, N.A.. This makes no sense, since XXXX  is only a credit reporting agency Furthermore, I have maintained an excellent payment history for the past XXXX years, and I maintain a very low-to No balance on my credit cards. This is my norm, Great paying history has been repeatedly reported on all of the three major credit bureaus ( XXXX, XXXX XXXX, and XXXX ). 

XXXX Bank maintained and claimed that XXXX  is responsible for reducing my credit limit. They denied the fact that my not using my credit card for some time as the reason for their huge reduction in my credit limit with them, which in essence, impacts my credit profile. *Please note : This is a major disservice to consumers treated this way. 
It is unethical and somewhat criminal when a company misrepresents the truth as to why they would reduce a customers credit limit by such a large margin, and then claim and/or lie that they had nothing to do with that decision. Once again, TD Bank N.A. claims XXXX  is responsible for that action.

On behalf of myself and the consumers who get treated this was, please investigate TD Bank N.A. regarding these shocking actions. This is wrong, and not fair! Once again, according the big 3 credit reporting agencies, I have maintained an excellent credit history over the past 7+ years, showing on time payments all the time, and low to no credit card balances.

TD Bank should, at the least, issue a letter of apology for this egregious and harmful action which I am a client with XXXX XXXX, the name they have on my credit card. What a harmful, irritating, and customer dis-service TD Bank rendered with this type of treatment.These adverse actions negatively impact us consumers.

I thank you in advance for your attention to this matter. I know we are all impacted by the COVID-19 situation, as we are working getting back to normalcy. Nonetheless, all companies, such as TD Bank N.A., needs to be held to honest standards and good ethical practices. 

Sincerely, XXXX XXXX XXXX XXXX.

Company response to consumer: Closed with non-monetary relief