Krash

All This Talk About CLD's... Post Here The name of the creditor that did it!

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OK guys and girlz,

I am kinda scared after reading all this talk about "credit line decreases" SOOOOOOOOOO I have citi and penfed and a local credit union, as we all know, HSBC is done! So post up the name of the creditor that cut your credit limit! I know amex,gemb, but I am not really sure who else! I hope no one has a citi CLD! Also put up what took place before the cld! I am trying to figure out what causes this, other than the bad economy! There has to be another reason! Lets figure it out, so hopefully we can dodge it! Also name how long it has been since u used the card, and if u ever was late at all! Thanks...... :)

So far I haven't had a cld, even chase gave me 800 more on my circuit city card! BTW, i talked with the supposed circuit city big guy that called me wondering why i canceled my order and I told him, and he said that is not true if it were true we would have closed that location a while back, so according to him, the stores that are still open are the stores that are staying open, they filed chapter 11 which he said was to "reorganize" stuff, or ever how u spell it!

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I got CLD's from Amex, Barclays Bank and GEMB within a 2 week period.

Amex: $3K to 1K

Barclays: $1K t$o $500

GEMB: $7500 to $1K

I told them all to stuff their cards, since all were already at a $0 balance and I still have over $100K in credit lines. In the same 2 week period Marshall & Ilsey bank (M&I Bank) approved me for $15K in lines, so I actually came out ahead.

The funny parts are the excuses used - they all use the same script. "A review of your credit report" (it is the same as when you approved the account 6 months ago) and "a review of your spending habits" (particularly funny with Amex and Barclays. I never used the Amex card, so how would they know my spending habits? The Barclays card was a Carnival cruise Lines card which was used on a Carnival Cruise Line cruise and paid off immediately upon return. Does that mean going on a cruise and using that cruise line's card on the cruise indicates some kind of poor spending habit? If so, why issue the card on the ship?)

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so far so good on the cld's I haven't gotten none today anyway lol, keep em comming! I haven't a clue still why this is happening to some and some not! It seems to be the crappy gemb, and lower lifes like that! weird......... And for the most part, the cld's are mostly people that don't use the card at all for months, or use it much at all! Weirder!!!!

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Neiman Marcus from $2000 to $575 after not using for 18 months and having a zero balance. But I really thought it was because of my other credit now I am going thru BK - but the notice was a month before I filed.:oops:

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Now everyone you guys are mentioning I have gotten CLIs from in the last month. My Kay's went from $3k to $4.8k in just the last 2 weeks. HSBC went from $500 to $700 and I use regularly as just my gas card. My Carnival went from $3k to $4k and my NFCU went up 5k on one card and 3k the other. I hope they don't drop any of my cards.

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My credit is stronger than ever as I pay down my mortgage and pay monthly credit cards off in full. Looks like GEMB is chopping credit card limits where they feel its appropriate, even on customers with no recent credit issues.

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My credit is stronger than ever as I pay down my mortgage and pay monthly credit cards off in full. Looks like GEMB is chopping credit card limits where they feel its appropriate, even on customers with no recent credit issues.

No doubt it isn't fair! I mean if they don't want to give credit cards out, DON"T right? I hate to say it but them and hsbc have the market cornered at all the good electronics stores! Chase isn't into the store side much! "electronics that is"

So as we sit here waiting for our credit lines to be cut!!!!!!!!!

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Dillard's (GEMB): $2,800 ==> $100.00

Closed (Elite) Account after 1 year.

All else is the same. I just started the whole credit card thing about a year and a half ago, I'm planning on just sticking to cash like I use too; I already have a car and mortgage and I got those without a single credit card in my wallet. Cash is KING in my books once more.

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It may sound twisted, but I’m glad I’m still toiling in the land of subprime/slightly better than subprime but not super prime ccs lol my orchard (2/09 it DIES), cap 1, hooters, target red, and BA 99/500 all remain untouched. Funny I was recently thinking about applying for a gemb cc (I REALLY want the ebay and pp ccs) and a 'better' cc like chase, but something made me stop before hitting ‘apply.’ Guess it was a good thing b/c I’d be freaking pissed if they CLD me. seriously what do they think people can do w/CLDs that take them down to 100 or 200? Beyond ridiculous.

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What I find hysterical is that it was my WAMU that I was worried about - I nearly maxed it out last month and did NOT PIF for the first time ever (although just did this month) due to moving expenses. Here it's the piss-a$$ Chevron card that slashes me. LOL...really...LOL

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lmao, that is normal from what I have seen around! Still as of today the 19th of november, I still have my 19,300, 6,400,5,000,5,000 and 3,000 untouched, I don't think citi or penfed would do that! I have still yet to find someone on here that got a CLD from citi, or penfed!

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My mother in law has had her Amex business card for 15 years...NO LATES (had to pay off every month) she just got a letter three weeks ago stating her limit had been decreased from 25K to 7500.00 and now has recieved a notice today saying that the business credit card will no longer exist for her as of Jan 2009. She said at first she didn't have a limit, then down to 25K then to $7500 now to Zero! This is very scary...and quite sad!

Blutish

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My Wal-Mart (GEMB) Went from $550 to $490, so what does this do now for my score since my high balance was 515, which would now be over my limit:mad:
It doesn't mean anything. Utilization is not based on high balance but on current balance. A $60 CLD won't really matter.
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My mother in law has had her Amex business card for 15 years...NO LATES (had to pay off every month) she just got a letter three weeks ago stating her limit had been decreased from 25K to 7500.00 and now has recieved a notice today saying that the business credit card will no longer exist for her as of Jan 2009. She said at first she didn't have a limit, then down to 25K then to $7500 now to Zero! This is very scary...and quite sad!

Blutish

yes, i agree, I have seen today on tv but i wasn't sure what was said, CITI is in trouble! Maybe it is just a plea to get some gov money! But I guess i will pif my card quick, and keep penfed, and gfcu ONLY! If i get my cl cut it isn't a big deal though! I don't use em for high dollar purchases, I only owe 3300 to citi to pif! and that is all the cc I owe on!

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here is what I am thinking, the CLD's are comming from the bank being able to extend credit to more people with worse credit by using your cl and reducing it, gives them more "available" cash! I could be wrong, but on the other hand I bet they are using the available cash from your cld's to help pay bills with! Just a thought!

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