Target Complaint - Target Visa Fails To Hit Its Mark
TURNERSVILLE, NEW JERSEY -- I have a Target Visa card. Until yesterday, my credit line was $5500. Since opening the account, my credit line has been increased, as recently as six months ago. Yesterday, my credit line was reduced by $4000 without explanation and without warning. I have never paid late, and my overall credit is good, with no late payments on any account. My balance was about $1400.
Had I known the credit line was going to be reduced, I wouldn't have been as upset, but the day before it happened, I went to a parking garage and entered with my Target Visa. In the time I was in the garage, the limit was reduced, and I was unable to use the card to exit. Luckily I was able to pay another way after contacting someone in the garage, but imagine if that had been my only way of paying.
I called Target and let them know about this occurrence, and they had a "too bad for you" attitude. They couldn't explain why the line was reduced.
Keep in mind that Chase Bank underwrites much of Target's Visa Credit Cards. The U.S. taxpayer, thanks to our government's bailout of Chase, is now indirectly subsidizes Target, and this is how we're treated.