- Report: #1064145
Report - Rebuttal - Arbitrate
Complaint Review: Macy's
Macy'sP. O Box 8061, Mason, OH 45040-8061 Mason, Ohio USA
Macy's Credit Protection leads to Credit Line Reduction Mason Ohio
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In November 2012, I was laid off. I immediately contacted Macys and then their CREDIT PROTECTION agency to file a claim to protect my credit standing with my creditor given I had purchased the Credit Protection when I signed up for the card. I was told that in 90 days, I would have to call back to get the application to file a claim but in the meantime, I still had to make the monthly payments...which I did. There were 3 attempts to get the application mailed because the agency did not have submissions online.
After getting the documentation (on a 2nd attempt), it took about 30 days and a total of 5 MONTHS for them to pay my account balance in full according to the terms of the credit protection. Well, I looked at my credit report and wondered why Macy's had done another credit inquiry....after the credit protection company paid off my balance, Macy's decided to lower my credit line. I was told by the credit protection agency to make at least the minimum payments during this time. I would not have an issue if they had order my credit score PRIOR to paying off the balance. It is PUNATIVE & it is UNETHICALto sell a product like credit protection which is only paid when you are INVOLUNTARILY laid off or injured etc. and then penalize folks because their score goes down despite continuous payments. I NEVER would have thought a major store would do something so shady. (Aside: I have had several corrections made to my credit report that have been updated).
I am laid off and have been for over 8 months, I am making less than half of my salary and yes, some discrepancies have occurred with my credit since I was initially approved for this account. Why would you do this to a customer who managed to make at least the minimum payments and received the benefits for a service they paid $8/month?
This report was posted on Ripoff Report on 07/03/2013 10:31 AM and is a permanent record located here: http://www.ripoffreport.com/r/Macys-/Mason-Ohio-45040/Macys-Credit-Protection-leads-to-Credit-Line-Reduction-Mason-Ohio-1064145. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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