Consumer complaint received 2015-05-26
Company: EQUIFAX, INC.
State: OH
Product: Credit reporting
Issue: Incorrect information on credit report
Sub-issue: Account terms

Complaint:
XXXX Bank is systematically discriminating against the XXXX, XXXX and the poor. Whenever they reduce your credit limits on credit cards that have never had a late payment and are in good standing it drastically affects and lowers your credit score through no fault of the consumer. How it works is XXXX. XXXX reduces your credit limit ( normally down to your current balance ). The cause and affect is the XXXX main credit repositories now lower your score due to higher credit utilization. The credit repositories like to see credit utilization of 40 % or less. If you had a XXXX with a {$2000.00} credit limit and a {$1000.00} balance your credit utilization would be 50 %. By XXXX Bank reducing your credit limit to {$1000.00} the credit utilization is now 100 % and your credit scores get hammered through no fault of your own. THIS NEEDS TO STOP. Contact the Consumer Financial Protection Agency at XXXX It, by design, heavily discriminates against the XXXX. Also share your stories here so that I can share them with XXXX XXXX XXXX, the lead architect of the Consumer Financial Protection Agency. Please send me your stories, if we can get enough stories like this we can ask for a class action lawsuit against XXXX Bank and others like XXXX Credit. 

Additional complaints : I had my XXXX credit card for years with XXXX and no issues. My account is well under the limit and current. I just received a notice that on my little {$300.00} card, they are lowering my limit to {$200.00}. Was this {$100.00} security so important to this organization? This makes me angry for two reasons : ( 1 ) I was current and well under limit yet they ran my credit ; and ( 2 ) their website has so many problems, I received XXXX copies of a message I was unable to access until XXXX days after they sent it only to get the canned response to the email I took time to write. I have written XXXX corporate. They should know that XXXX Bank obviously does not match the XXXX customer service ideals. 

Additional Complaints : I had my XXXX credit card for years with XXXX and no issues. My account is well under the limit and current. I just received a notice that on my little {$300.00} card, they are lowering my limit to {$200.00}. Was this {$100.00} security so important to this organization? This makes me angry for two reasons : ( 1 ) I was current and well under limit yet they ran my credit ; and ( 2 ) their website has so many problems, I received XXXX copies of a message I was unable to access until XXXX days after they sent it only to get the canned response to the email I took time to write. I have written XXXX corporate. They should know that XXXX obviously does not match the XXXX customer service ideals. 

Additional compalints : I HAD a card for XXXX 's, through XXXX Bank. I was NEVER, EVER late. Paid off my balance to XXXX. A year ago they reduced my credit limit with no reason or letter explaining why, and then yesterday I get a letter that was dated back in XXXX XXXX just now getting it in XXXX XXXX, stating because of things found in my credit report they are closing my account! WHAT?!!! They claimed they used XXXX XXXX and they provided my credit score in the letter and the score was XXXX. I even went back to my credit score via XXXX XXXX for the past XXXX months and I have no idea where they got their number from. They were off by almost XXXX points! 

I am so upset. You work hard to maintain your debt you have with lenders and they just up and close your account? I need to know who can I go to, to report this? The irony of this all, I have another XXXX cards that are through XXXX Bank and they are still open, with always increasing credit limits, that I am never aware of until I happen to check. Something is fishy and wrong with this bank and their practices. I need help!

Company response to consumer: Closed with explanation