Consumer complaint received 2015-12-12
Product: Credit card — 
Issue: Credit line increase/decrease — 
Company: CITIBANK, N.A. (MO)

I applied for a Macy 's store credit card to help build my credit score. I was approved for a card with a credit limit of {$300.00}. I purchased around {$100.00} worth of items, and then for around 6 months made my minimum payments when the due date came around. I tried to enroll online to make payments online, but they could n't link the online payment option with my card, because they said the card number was n't valid. I called tech support and they could n't help me. they said their system was having trouble recognizing some of the recently issued card numbers. Unfortunately I do take ownership of being a few days late on a payment due date. Dot 30 days, around 7 days. I went to the store and made the payment, since I could n't online, or enroll in e-mail statements which I do for my other cards. At that time I had a XXXX balance on a XXXX credit limit card. About a month later I had never received any notification from Macy 's I had pulled my credit report to see how my scores were doing. I was shocked. Macy 's had dropped my credit limit down to what I owed on the card. It had probably dinged my score at least XXXX-XXXX points. I immediately went to the store and paid the balance down to half thinking, I will wait a few months and the damage would be fixed. I also called them about why they would drop someones credit limit before notifying them. No one could answer my question, or even cared. I actually finally did get a letter from them in the mail, about 45 days after they had already dropped it. This is terrible. If I had known by credit limit had been reduced, I would have immediately paid down the card. This could possibly cost a person XXXX 's of dollars in higher interest on a car loan or a home loan, because of the affect it has when someone owes what they can borrower on a credit card. Here is another nice part of this story. I was starting to get so mad about this, I decided to just pay the card off and possibly even close it. I called yet again to see if they would help me resolve this issue. Their only option was to apply for a credit line increase. I said no and paid the remaining balance to zero, on a card that now had a XXXX credit limit. I called a day later to verify the balance, and they said the online option should be working, so I went online to hopefully register the card, and hook up a bank account for future payments. It finally worked, and I noticed there was a document waiting for me to view. I clicked on it and guess what? They had dropped my credit limit to {$100.00} about 2 weeks prior. I still have not received that notice! Even though the account is now paid to zero, if that happened to weeks ago, it means my XXXX dollar balance was really close to XXXX and would have been reported already so yet again they have destroyed my credit score further. I plan on closing the account. I first want to try and resolve. After talking to XXXX people today, they are oblivious to what I am saying. I have been given an XXXX number which is closed, so I will try that. The second downgrade was supposedly an examination of my updated equifax score, which is funny because they are the ones that helped drop that score by twice, dropping my credit limit without any advance notice. I am furious, this has probably set me back 6 months or more on getting my credit score in a decent range. This is not acceptable or fair to consumers. If I were to try to finance a car today they have cost me thousands in interest. I probably could have got around 8-12 % range on a used vehicle. Now, there are places that probaly would n't even finance me, and the ones that would, would charge around 25 %, Thanks Macy 's store card and thanks to whatever bank issues it, and thanks for not resolving the issue. Do n't get a Macy 's card. I have others and have no issues with them dropping my credit limit.