JCPenny Cardholders Beware!!

[frugalicious]

Those of you have a JCPenny's card should have received a letter stating that the owner of your account has been sold to another bank. In that letter they stated the new terms and conditions. One of those new terms was a different due date for your bill. I just got my bill and they changed the due date to be a week earlier so PLEASE PLEASE check you new due date so you are not paying their $15-30 late fee. They also changed the terms so even if your balance is $1 you have to pay the whole amount or you may be subject to the late fee. I suspect that if you fail to pay on the due date they will use this as leverage to raise your interest rate also. So PLEASE PAY YOUR BILL BY THE DUE DATE!!!

[beth119]

I have a jcpenney card...I only use it if I get a discount though...I hope this doesn't mess up online payments :(

THanks for the heads up though...

[terrynn]

They are also lowering credit limits as well based on where you live. I had been paying my balance in full until this past spring when I used it to purchase some RX meds for my parents at Rite-Aid and then all of a sudden they lower my credit limit this week without warning.

[sbp]

Don't forget that you can make a payment at any register at JCPenney, so if it's getting close to the due date and you want to be sure they receive it in time!

[shannondw1]

They are also lowering credit limits as well based on where you live. I had been paying my balance in full until this past spring when I used it to purchase some RX meds for my parents at Rite-Aid and then all of a sudden they lower my credit limit this week without warning.

Actually this happened to me yesterday I rarely use it, just have it to get the gift certs and extra bonus sales. And my original limit was $650 and we were purchasing some pants for DH and a zip jacket, shirt and sweater for me came a little over $100 and I was denied. I was mortified I know I paid my bill and I was only using the card per the terms to use the gift cert I had. Well since it didn't go thru I used my debit card. I checked online last night - yep payment processed a week before due date and balance before payment was 128 after payment zero. So I called and they told me it's new credit standards that something came up and they had to lower it to my current balance? based on something in Equifax and I would have to provide proof of clean credit if I wanted my limit raised if there was an error...WTF? I've been a customer for well over a year and always keep my balance at zero or pretty close to that. So I said what if my card was paid off at the time they said it would have been lowered to 100 - 150? I told them they had better put it back or they can cancel my account and I will NEVER shop there again, and I will spread the word to all my friends and family.

I already cut it up this morning screw that I've had my macy's just as long and they just raised my limit? I called DH and let him know and he had heard of this being an epidemic cc companies doing this b/c of the economy and that there was a news story about some guy getting stranded on vacation b/c they had lowered his limit while on vaca. Way to go JC Penny what a way to earn loyal paying customers. Lost my business and I was once a former employee too!

[jeweltea]

Thanks for this information. I just got a letter from AMEX lowering my limit and I was quite insulted. However, now I know it isn't just me.

[carisal]

my husband's bank of america card limit got lowered about a month back, and I was almost stranded out of town as it was all I had. pretty crappy. I made it home with 4 dollars left on it.

[puakinikini]

Wow - I will have to check into this - I barely use my JcP card but have been more lately. I know my due date for payment is the 12th - and always plan to go into the store a week ahead of time (I always pay at the registers), but I better make sure it did not change.

[terrynn]

It seems that GE Money Bank who owns JCP credit card as well as Lowes, Old Navy and others are lowering lots of credit limits. My dad has had a Lowe's card for over 13 years with no balance and just reduced his credit limit from $4500 to $13...

[puakinikini]

It seems that GE Money Bank who owns JCP credit card as well as Lowes, Old Navy and others are lowering lots of credit limits. My dad has had a Lowe's card for over 13 years with no balance and just reduced his credit limit from $4500 to $13...

Wait a minute! $13! Do these people understand what credit is for? Yikes.

I wonder if this negatively impacts your credit score?