Target National Bank stole over $5,000 of my money Sioux Falls South Dakota

This is just a comment as to why banks have been lowering credit limits. Some of you may have heard about the economy and the recent credit crunch.

Consequences of a credit crunch include a reduction of available credit (decreases in credit limits) and a higher cost to access available credit (increased interest rates). I personally know someone who had a card with a $25,000 limit and a rate of Prime + 1.9% and his limit was slashed down to $2,500.

You simply cannot expect to live in this economy and not be impacted by it.

Ok, first the gentlemen that said that Target is ripping him off is just like millions of other Americans who are saying the same thing. Banks are lowering credit limits for no good reason. If the gentlemen is paying his bills on time and hasn't missed one, he is correct that Target should not be allowed to set a certain limit and then change the terms of the agreement for no reason. Especially if he hasn't changed the agreement by missing a payment, etc.

Additionally, I believe the second person's name was Robert. Robert, you have claimed that "maxing" out your credit card is misuse. Ok, do you understand that Target itself set the credit limit? What would you call that, entrapement? No one is misusing anything if the company set the credit limit on its own and the customer is paying as agreed. You need to examine your logic.

THANK YOU for giving me a great laugh because you can't be serious.

They gave you a 12K credit limit that YOU used up. So right now you have borrowed 12K of THEIR money. Yet by you paying down the money YOU borrowed they are stealing....You know I think I will just let you think about how dumb that sounds for a few minutes.

...Okay did you think about it?. The fact is they are lowering your limit because you misused your credit by "maxing" it out. You can expect them to continue to lower your limit until you have paid the card off. Now, if you have multiple credit cards that you maxed out, you can expect others to probably follow suit within the next few months. We will be waiting for your next theft report.

But if you still really do think they "stole" your money go to the police and file a report. After you do please let us know what the police said.