Krash

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

Recommended Posts

I imagine that will do a number on people's credit score. That will really mess with the debt to credit ratio. :roll:

Exactly and its wrong ! When your CL's are lowered to your balance it looks like you maxed the CC out and it affects your Debt to Income Ratio thus lowering your credit scores. I agree about closing CC's that do this but that too lowers your credit scores so what gives ? And in other news Home Depot raises my CL $3,500 ;)

Link to post
Share on other sites

I am finally a member of the CLD club. And ironically, on the same day another card gave me a $300 increase.

WaMu decreased my credit line by $212 (LOL). I was using the card all the time and ran it way up. As a matter of fact, I made a mammoth charge at the dentist that brought it up near the limit. I wonder if this is what triggered it, or if it was going to happen anyway.

Link to post
Share on other sites

WaMu- you mean JP Morgan Chase? :)

They canceled me (earlier in this thread) for non-use for one year. I had bonus points leftover and they mailed me a $20 gift certificate to Applebee's. LoL.

And tmac- Home Depot is giving you $3500???? I'm capped at $750. I think they have it out for me. Did you ask for a CLI?

Link to post
Share on other sites

Good luck finding anything to eat at Applebees. The last time I went there, I took my son there because he had a free kids' meal certificate from school (does not include drink or dessert. It's a classic rip-off scheme to get adults to come in with the kids - that's where they make their money, obviously.) It was going to be just me and him, a real treat. Never mind that he slammed his thumb in the car door - that was not Applebee's fault - but it was a portent. We had a good time but did not eat much.

He ate up the kids' meal in about one minute. I ordered one of their most expensive large entrees because I hardly ever go to restaurants and thought I'd take it home - you know, eat some more for dinner, then eat more the next day.

It was so tiny that it was gone right away. We had to order large desserts just so we would not leave hungry. We dropped a lot of money for hardly any food. The place was empty. I don't think business is good there lately.

Link to post
Share on other sites
WaMu- you mean JP Morgan Chase? :)

They canceled me (earlier in this thread) for non-use for one year. I had bonus points leftover and they mailed me a $20 gift certificate to Applebee's. LoL.

And tmac- Home Depot is giving you $3500???? I'm capped at $750. I think they have it out for me. Did you ask for a CLI?

Yes ! I did it online and in 2 days they emailed me the CLI ! I already had a pretty good CL but I purchased a frig and needed that room for utilization ! I use my Card all the time so maybe thats why ! Go figure Pier One always turns me down and they finally told me today that it was because I have some 30 day late school loans from 2000 ! Then Lowes denies me because I put my new address down on the app and they didn't believe I was who I said I was ! CC Co's are just weird and they need a better system than favoritism ! My good friend got a Pier One CC and he has a Bankruptcy on his CR ! Go Figure !

Link to post
Share on other sites
Pier One will file for bankruptcy in the very near future imo. So don't worry about them. The retail grim reaper is looming....:catholic:

OK, so you can scratch another credit card of mine - albeit on with no balance that I used exactly once a couple of years ago........

Link to post
Share on other sites
Pier One will file for bankruptcy in the very near future imo. So don't worry about them. The retail grim reaper is looming....:catholic:

I love that store but they have been having a 75% off sale for a while now and unless its on sale they are way over priced. I always buy sale items or damaged items from them. I just read Sears and Kmart will be next and I just got a Sears CC ! :(

Link to post
Share on other sites

The only CLD we have received (so far) came in December.

Lowe's decreased our line from $15,000.00 to $10,000.00.

Their reason...

"Due to current economic conditions, we have decided to lower the maximum credit line offered for the Lowe's Consumer Credit Card from GE Money. This changes applies to ALL Lowe's Consumer Credit Card accounts and is not a reflection of your personal credit rating or our confidence in you as a cardholder."

Yea!!!:D:D:D

Link to post
Share on other sites
The only CLD we have received (so far) came in December.

Lowe's decreased our line from $15,000.00 to $10,000.00.

Their reason...

"Due to current economic conditions, we have decided to lower the maximum credit line offered for the Lowe's Consumer Credit Card from GE Money. This changes applies to ALL Lowe's Consumer Credit Card accounts and is not a reflection of your personal credit rating or our confidence in you as a cardholder."

Yea!!!:D:D:D

They denied me because they didn't believe I was who I said I was :confused: Seriously !! They told me to re-apply in 30 days ! So I ran to my beloved Home Depot ! Lowes has the absolute worst customer service in the world !

Link to post
Share on other sites

I have a MC with HSBC with a limit of $1000. Before today, the cash limit was also $1000 but they reduced it to $250 and left the credit line at $1000.

Also I had Hewlett Packard card with HSBC that was basically my worst TL ($800 limit and 25.1% interest rate.) I called them to cancel it the other day and the CSR said I can do that for you and it was done in under a minute. There was no "let me transfer you to an account specialist" or "why are you closing your account" just OK.

Link to post
Share on other sites
I have a MC with HSBC with a limit of $1000. Before today, the cash limit was also $1000 but they reduced it to $250 and left the credit line at $1000.

Also I had Hewlett Packard card with HSBC that was basically my worst TL ($800 limit and 25.1% interest rate.) I called them to cancel it the other day and the CSR said I can do that for you and it was done in under a minute. There was no "let me transfer you to an account specialist" or "why are you closing your account" just OK.

Its this economy my friend !!!!!! Unless your a millionaire these CC Co's don't care !

Link to post
Share on other sites
what the heck

I am so sick of this

The big national banks are in duck & cover mode. They have lost more money in two years than they have earned in the past thirty years. It is literally being done to preserve what little capital they have left so they don't become another footnote in a history book about the corporate crash of 2008. Good credit risks quickly become bad credit risks in recessionary economies, so they're chopping credit lines proactively. Its nothing personal.
Link to post
Share on other sites

My husband just had 2 cards cut his limits. One was his PayPal credit card and the other one Today was US Bank (Harley Davidson). They cut the limits to just over what we have charged on them. Here we are waiting for our tax refund to pay them off, so we can try to apply for a mortgage, and the just messed up our credit ratios. Any recourse for intentionally hurting our scores?

Link to post
Share on other sites
The only CLD we have received (so far) came in December.

Lowe's decreased our line from $15,000.00 to $10,000.00.

Their reason...

"Due to current economic conditions, we have decided to lower the maximum credit line offered for the Lowe's Consumer Credit Card from GE Money. This changes applies to ALL Lowe's Consumer Credit Card accounts and is not a reflection of your personal credit rating or our confidence in you as a cardholder."

Yea!!!:D:D:D

I wouldn't be so angry if they'd given this as their reason. Amex went from $24,600 to $7,300 in October, then to $2,500 today. They cited too many inquiries and too many accounts recently opened as their reasons. (I'd had three inquiries in two years - one by Countrywide for a prospective refi; one by B of A, which took over Countrywide and apparently did hard pulls on all mortgagees; one by Discover, my only new account in four years.

Citibank closed my account, saying it was at my request, which is absolutely false. I had a 17k limit, but I only used the card for a very attractive balance transfer offer.

I have nothing negative on my CRs, have always paid on time. My FICO was in the 770-780 range in October, 724-730 at the end of January.

Link to post
Share on other sites

I sent letters to both AMEX and Citicards on 2-9, the date of my last post. I got a call last week from the assistant of the Citicards exec to whom I wrote. After some phone tag I spoke with her yesterday and my account has been reopened. Still waiting to hear from AMEX...

Link to post
Share on other sites
Got me too $35K to $8,500. Will pay off and close!

Still going strong with only one cld from Juniper that I closed. Thankful for my earlier credit whoring so that cld will not hurt my utilization. I am leaning on developing more credit union relationships since they seem to be doing well in this crisis mode.:lol::lol:

Link to post
Share on other sites
Guest
This topic is now closed to further replies.