Anyone have Sears MasterCard limit decreased

boston blacky wrote:
Hey guys;

DW had this mastercard issued by Sears Canada for several years. Several days ago DW noticed her credit limit for that card was lowered from just over 10K to just above 8k. She called and the old limit was quickly reinstated.

But, today the same thing occurred and despite a long wait on the phone plus the run around - explain the situation to one person and another and then yet another - no luck and it's (credit limit) now reset at the lower limit 8.5K.

I understand Sears is in deep trouble and closing many outlets - could it also be cutting back on credit limits and failing to tell their customers?

p.s. DW tells me monthly payments are always paid on time and when possible balance is paid in full.

As others said it has nothing to do with Sears and everything to do with the bank issuing the card. Even though you're in Canada when the Fed here in the US raises the prime banks start looking at everything more closely. If you were to grab your credit report somewhere, you'll most likely find a report pull from the bank issuing the card. They look at a whole lot of factors to come to the conclusion to lower a credit limit. As rates rise, which have been stagnant for a long time, you can expect more limit reductions and credit generally becoming harder to obtain. It's the nature of the beast. Its not issued by Citibank is it? They're notorious for playing with your limits and rates.