JC Penney And GE Money Bank closed our "current" credit card w/o notice GE Money and JC Penney El Paso Texas

We have been a JC Penney customer with a credit card for the past 19 years.

We always paid our bill on time and never missed a payment. Just recently without and pre notification JC Penney raised our monthly payments from $68.86 per month, we always paid $75.00.

On October 26, 2008, we received a letter on JC Penney Letterhead, signed by GE Money Bank 800-542-0800. Our balance was $2042.81, the credit limit was $5,250.00.
Out the blue they cancelled my card, and ask that we pay $200.00 per month tand dropped the so called credit limit to $100.00.

It apears that GE Money is running out of money and have dictated to JC Penney to cancel cards without notice.
I am doing everything I can to make complaints directly to GE Money and JC Penney. My credit score is low, however, when I got the card is was over 700. Thru the years my Credit Limit at JC Penney went up from $1,000.00
to $5,250.00, October 10, 2007, just a year ago.
It looks like JCPenny is going under. Hope so.

Gaze
sequim, Washington
U.S.A.