5/3 Bank - Fifth Third Bank Reduced Credit Limit under current balance WITHOUT NOTIFYING ME Cincinnati, Ohio

As a credit card holder with 5/3, I have received all my letters from them in a timely manner..Check with credit cards at the bank either in person or on the phone to find out why you did not get your letter..By law they have to send you one I believe 45 to 60 days in advance..You may get a fee charged to you for going over the limit..I highly advise to call the bank to get answers to your questions..They may have your address wrong..I have in the past never received staments from them, but I know that I have a balance, so I pick up the phone and call them to see when payment is due..I don;t know why people sit on their duffs and expect the bank to call them or email them..With millions of accounts, why should they call you? It is your account and you are the only one who takes care of it..As a ex teller with a credit union, we did not have time to call our members to remind them of things..How would you explain that to the customer standing in front of you who needs a deposit, cash a check, open an account, mortgatge loan,credit card application, etc..They are the most important ones. If you cannot follow up on your own accounts, Then maybe you don't need one..

But this is a new one.

Yes..the bank has a legal right to lower your credit limit..many banks have been doing this lately..I guess they are running scared. Remember by easing up on restrictions...between credit cards and mortgages..well we all know where it almost got them.

Now what I don't understand is why the Government gave them 700 BILLION dollars in TARP bailouts....money from the taxpayers...and now the banks seem to be punishing taxpayers that are being responsible with the credit cards..and paying them down.

With that said...yes..they still have a legal right to lower your limit...but I have never heard of them doing this without notifying the customer...and then charging fees if over limits occur.

That would be outright scam, ripoff, theft, stealing, annexation, appropriation,  caper, cheating, crime, defrauding, deprivation, embezzlement, extortion, filch, fleece, heist, holdup, hustle, job, larceny, lift, looting, mugging, peculation, pilferage, piracy, plunder, purloining, racket, rapacity, robbery, snatch, swindling...

...did I leave any out???

Keep us posted..I have a feeling they will waive any fees incurred due to this..but I won't hold my breath either. From a few reports I have read about this bank..and I have never even heard of them before coming to this site...they can be pretty ruthless.