FIA Card Services / Charles Schwab Complaint - FIA Card Services Unilaterally Reduces Credit when you open a Schwab Credit Card
Last week I opened a Charles Schwab Signature Visa Card (to get 2% back on all purchases!). Imagine my surprise when I discovered that Schwab's card servicer - FIA Card Services - which also services my local bank's VISA card, unilaterally reduced my local bank's card credit line by the amount of the Schwab Card.
I called both FIA Card Services and Schwab and raised h*ll, and I think I've got it straightened back out. It did not help that the idiot credit clerk at FIA didn't have a clue how (their) Equifax Credit Reporting system works. FIA Card Services needs to do a better job of training their credit department, and Schwab needs to do a better job of disclosing this questionable practice. BOTH of them almost lost me as a customer today.
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