Banana Republic Lowers Credit Card Limit From $1000 To $100

It’s no surprise that a popular purveyor of work-suitable vestments suck lowered a reader’s friend’s store credit-card limit, but to go from $1000 to $100, that’s cold, Banana Republic. Danielle writes:

My friend recently went to Banana Republic and while she was checking out her Banana Republic credit card was declined. She called me after speaking to a BR store credit card rep on the phone because the rep told her that “BR has been lowering ALL credit card limits in light of the current economic crisis. Customers are welcome to call back to ask that their limit be raised in 3-6 months.” This is rather normal, however, they lowered her credit limit from $1000 to $100. I’d say 80% of their items cost more than $100? She pays her bills on time and doesn’t carry a balance. I checked my card and they haven’t lowered the limit yet. This policy of lowering the limits across the board is ridiculous.

Stinks. Soon we’ll have to back to this antiquated method called “paying in cash.” I just hope we’re not too rusty. Maybe the government can sponsor some retraining classes?

“The new Banana Republic card, for those of you who can’t get $100 together, and really like Banana Republic socks.”

(Photo: yoshiffles)