Cabels pissed me off
08-05-2009, 12:39 AM
#1
Boone & Crockett
Thread Starter
Join Date: Feb 1997
Location: Cheasapeke and Delaware Bay Region
Posts: 10,485
Cabels pissed me off
Twice in the last 6 months they have lowered my credit limit. I called them to see why and they said my credit score wasn't high enough for the limit that was set when I got the card less than a year ago. My score is 780. Just had it checked. Steller to say the least. I only used the card as a conveince and paid it off in full with the 1st statement. Herein lies the root of the problem I beleive. I told them to close out my account as I would be doing my shopping eleswhere.
08-05-2009, 02:52 AM
#2
Boone & Crockett
Join Date: Feb 2006
Location: Maine
Posts: 12,564
I only used the card as a conveince and paid it off in full with the 1st statement. Herein lies the root of the problem I beleive.
08-05-2009, 03:08 AM
#4
Fork Horn
Join Date: Dec 2007
Location: Brattleboro, Vt.
Posts: 185
Same thing happened to me with another "BIG" well known company. Just applied for a mortgage this week and the gal I'm
working with told me it is better to just pay off the card and NOT to close the account.( I had already closed it) It actually hurts your credit score more if you close the account rather than to keep it open with a zero balance. At least, that is what she told me !!
working with told me it is better to just pay off the card and NOT to close the account.( I had already closed it) It actually hurts your credit score more if you close the account rather than to keep it open with a zero balance. At least, that is what she told me !!
08-05-2009, 03:41 AM
#5
Nontypical Buck
Join Date: Oct 2003
Location: Lake County, Florida
Posts: 3,313
we just had another credit card company do the same to me and the wife. since we kept a zero balance, they cancelled it
08-05-2009, 03:41 AM
#6
Typical Buck
Join Date: Aug 2007
Location:
Posts: 509
Pretty common thing these days, unfortunetly. Since the bank bailouts, many have jacked their intrest rates up, and it has nothing to do with your personal credit score. It may look better to carry the card with a zero balance for your credit score, but I closed mine out as well.
08-05-2009, 04:53 AM
#7
Fork Horn
Join Date: Aug 2008
Location:
Posts: 145
That's really weird. My wife and I put everything on our Cabela's card-- and I mean everything from gas to a 2 dollar cup of coffee-- and then pay it off in full each month. We've never had any problem with them lowering our limit. They make money on each purchase you make on it, not just the interest.
08-05-2009, 05:07 AM
#8
Fork Horn
Join Date: Jul 2008
Location: Alaska
Posts: 368
thats why you should live on a cash basis, without credit. you dont need it! its simple, if you cant afford to pay cash for it then you dont need it. If an emergency comes up, then thats why you have 3 to 6 months of salary saved up. GO DAVE RAMSEY!!
08-05-2009, 05:16 AM
#9
Nontypical Buck
Join Date: Jun 2007
Location: Camden,MO
Posts: 2,546
hopefully being in retail i can shed a little bit of light on this. I go through this all the time.
First no need to get mad at Cabelas persay. They most likely use a serperate financing companies as do 99 percent of all retail companies.
Second your lucky they are lowering your limit. as others have said most companies have intiated an inactive period. if your account is inactive for a said period of time is is automatically canceled. mainly to free up some money to give to new accounts.
third it is not always a good idea to cancel an account. sometimes it can have a negative impact on your credit. not on your score persay but on your actual credit. as you see different credit companies look at credit different ways. some dont even look at your credit score.
First no need to get mad at Cabelas persay. They most likely use a serperate financing companies as do 99 percent of all retail companies.
Second your lucky they are lowering your limit. as others have said most companies have intiated an inactive period. if your account is inactive for a said period of time is is automatically canceled. mainly to free up some money to give to new accounts.
third it is not always a good idea to cancel an account. sometimes it can have a negative impact on your credit. not on your score persay but on your actual credit. as you see different credit companies look at credit different ways. some dont even look at your credit score.
08-05-2009, 05:25 AM
#10
Nontypical Buck
Join Date: Feb 2003
Location: Elizabeth Colo. USA
Posts: 4,413
"First no need to get mad at Cabelas persay. They most likely use a serperate financing companies as do 99 percent of all retail companies."
That's a fact. If you look on the back of your "Cabela's" card, in the fine print, you'll be able to read the name of the financial institute that is the "ISSUER", in behalf of Cabela's. That financail institute is who you need to be "mad" at, as Cabela's isn't the one pulling the punches!
That's a fact. If you look on the back of your "Cabela's" card, in the fine print, you'll be able to read the name of the financial institute that is the "ISSUER", in behalf of Cabela's. That financail institute is who you need to be "mad" at, as Cabela's isn't the one pulling the punches!