06-19-2010 10:53 AM
MY TU score currenty sitting at 611 and CFNA firestone wants to do a hard pull again to grant me a credit line.I told them "hell no!" My thinking is why in the hell would I allow them to do a hard pull and possibly give me a lower limit with my current credit score. My credit line was $1000 and now a CSR is telling me its $0. Wtf?! As of now, the account is paid in full witha $0 balance. What is best for my current credit? To do a hard pull to re-access a credit limit, or leave as is. Thanks, Myfico...
|CREDIT FIRST N A|
|Acct Type:||Revolving Charge Account|
|Payment Status:||Current, was past due 90 days|
06-19-2010 12:25 PM
So based on what your saying they asked for your consent to determine your current credit worthiness which could possible lead to a credit line decrease. Well a couple things, like you said don't avoid an oncoming smart car by getting hit by a truck.
. If this one of your older accounts you might consider taking the cld just to keep it open. It won't drop off anytime in the near future but the clock starts ticking the moment the account is closed. The minimum may be ten years from now. Now keep in mind ten years is a long time you can clean up your credit and buy a home in that time ... hell maybe even two before the account drops off the report and your aaoa is lowered.
The immediate impact is the effect on your total credit limit. Which in your case is two options from the sound of it either take 500 cld or a total 1000 hit to your limit.
My advice would be to take the decrease and keep paying on time for a couple reasons. Show some success in the months to come and then send a gw letter requesting a deletion of the 90 day late. A 90 day late may have the account listed as a negative one for you aka a baddie and one less of those is never a bad thing. A hard pull by a current lender won't be the worst looking thing on a report for a future lender. Clean up your paying history by paying on time and you can ask for a CLI... something ya can't do if the account is closed. That gives you something to think about.
Oh yeah keep that balance lower man... that could be the reason for the inquiry that and the late payments. Just because someone gives you a 1000 dollar credit limit doesn't mean you should use almost 900 dollars of it. I also see that you went over the limit at one point. Hate to say it but your activity with their account may be the reason they want to see you overall credit use as a whole. Your utilization percentage has to be improved man. You want to get under 20%
06-19-2010 12:40 PM - edited 06-19-2010 12:43 PM
I just checked my TU report and they are still reporting a $900 credit line limit. Other agencies are not reporting a CL at all. WIth that being said, the account is now PIF (as of friday) but what worries me is that the CSR says my account has a $0 CL but still revolving? Somethings not adding up..... I also jsut noticed that the EXp and Eq are reporting my High balance as a CL? Is that a bad thing? Thanks for your advice btw.
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