TD Bank US Holding Company Credit Card Complaint

TD Bank US Holding Company Credit card department,

Credit line increase/decrease Georgia

I have been a Target REDcard Visa cardholder since -/-/-. My credit limit on my account was $2700.00. I have always maintained my account in good standing. I paid my account down to a - balance in - - and did not use the card to make purchases for more than a year. Target updated their cards with the new chip technology and mailed me a new card to activate. Upon activation I noticed that Target had reduced my credit limit from $2700.00 to $200.00. When I called Target to inquire as to why my credit limit was reduced, I was informed that Target 's company policy allows them to reduce and/or close cardholders accounts after 13 months of inactivity. I was floored. I asked to receive this information in writing and was told that Target can not send me this policy that apparently is tied to my credit agreement with them in writing. Essentially, Target is penalizing cardholders for NOT using their available credit AND they are NOT informing cardholders that this is a requirement or part of their credit agreement. By reducing my credit limit from $2700.00 to $200.00 Target has now negatively impacted my creditworthiness and credit score with consumer reporting agencies and said that in order to keep the account open I have to purchase something on the card. This is a deceptive, very predatory and unfair business practice! How can Target be allowed to do this? I was never notified that I was in jeopardy of my credit line being reduced or the account being closed due to inactivity. I 've been a cardholder for almost 10 years and now I am being forced to incur additional debt when I do n't want to or have the account closed by Target which will significantly and negatively impact my credit score.