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Dell Financial Services Complaint - Dell Financial Services -lowered My Business Limit & Worse!!
Complaint
MONROE -- I have been a Dell Business and personal account holder for over three years now.
My Business account with Dell Financial Services has always had a credit limit of $10k. The highest balance I have ever had on this account was $4k. I have always made at least minimum payments on this account with NO LATE PAYMENTS.
Yet, I noted two billing cycles ago that my credit limit had been reduced to my current balance. On the current bill, DFS shows that, although I have continued to pay the minimums on time, that I am now "over my credit limit as adjusted based on my credit report."
I was told I should contact the credit reporting agency. After much frustration on the phone with someone who spoke broken English, I am at my wits end.
Although I NEVER exceeded my credit balance, have not had any new charges in months, and have always paid on time, DFS is now reporting me as "above my credit limit."
I will NEVER buy another Dell product. Closing and paying off these two accounts as soon as I can. Will be reporting this to the BBB and monitoring my credit report and appealing as necessary.
Be VERY CAREFUL in dealing with DFS (Dell Financial Services)...they are up to no good!!!
Travis
My Business account with Dell Financial Services has always had a credit limit of $10k. The highest balance I have ever had on this account was $4k. I have always made at least minimum payments on this account with NO LATE PAYMENTS.
Yet, I noted two billing cycles ago that my credit limit had been reduced to my current balance. On the current bill, DFS shows that, although I have continued to pay the minimums on time, that I am now "over my credit limit as adjusted based on my credit report."
I was told I should contact the credit reporting agency. After much frustration on the phone with someone who spoke broken English, I am at my wits end.
Although I NEVER exceeded my credit balance, have not had any new charges in months, and have always paid on time, DFS is now reporting me as "above my credit limit."
I will NEVER buy another Dell product. Closing and paying off these two accounts as soon as I can. Will be reporting this to the BBB and monitoring my credit report and appealing as necessary.
Be VERY CAREFUL in dealing with DFS (Dell Financial Services)...they are up to no good!!!
Travis
Comments:
Posted by Ghost of Doc J on 2008-07-18:
Complain to your heart's content. It will do no good. All creditors are tightening the screws and not just Dell. They are doing this by lowering lending limits to reduce their exposure when consumers fail to pay their bills. Citi is posting losses and the credit market is shrinking. If you need a line of credit for your business, you can get a better deal at a local bank or credit union.
Posted by PassingBy on 2008-07-18:
Be thankful they lowered your credit limit. DFS is well known for being the most crooked finance company around. You need to pay off everything you might owe them. Then start buying from another vendor. Oh, make sure you get a zero balance letter from DFS or they will hound you forever for fees you never knew about.
Posted by Joef on 2008-07-26:
Got several phone calls and emails from "Dell Financial Services" regarding a past due account. They mentioned a person, who I have never heard of. Called them back and they were rude, demanding payment be made on the past due account or legal action will be taken.
Fact is, I have never purchased from Dell Financial, anything period!
Fact is, I have never purchased from Dell Financial, anything period!
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