- 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
A business' first
line of defense
on the Internet.
If your business is
willing to make a
Click here now..
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.
Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
- Keep the name short & simple, and try different variations of the name.
- Do not include ".com", "S", "Inc.", "Corp", or "LLC" at the end of the Company name.
- Use only the first/main part of a name to get best results.
- Only search one name at a time if Company has many AKA's.