Just last week they went and closed down the revolving part of the loan. This made it so that I had the outstanding balance to pay off, but I couldn't borrow against the line of credit any more. I called them up and asked them what was going on. The loan officer at the TD Bank mentioned that they did a review of my credit bureau and my credit report showed some negative items and my credit score was below what they wanted to see.
I was shocked. I didn't know what to say. I thought I was building an excellent credit rating with this line of credit. But apparently TD Canada Trust doesn't see it that way.
The negative item on my credit report, I found out, was a dispute that I had with a creditor that wound up on my credit report. I disputed this item with the creditor and I guess I lost. What a shocker.
My question is, how can the TD Bank do that to me. Why would they do that to me? Why would they shut down my line of credit even though I had made perfect payments for the last 3 years on it? Isn't there any room for human judgement at the banks, or is everything done electronically these days?
I'm of the mind that I'm going to pay off this line of credit and not deal with the TD Bank. After all what's the point of trying to develop a "relationship" with a lender if they don't really care about long term relationships?
