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CL lowering question

Regular Contributor

CL lowering question

I have 2 CC's (chase and boa) that are close to their limits. I have a big baddie that was removed from TU and EQ, and will soon be gone from EX (hopefully -- the creditor sent a letter to the CA's to remove them, but EX didn't. they're sending a second removal letter to EX). When the baddie was off TU and EQ, both jumped 100 points up. I'm hoping the same will happen when it's gone from EX.

 

I want to pay off the 2 CC's, but I don't want my credit limit to be lowered when I do so. How soon after the baddie is off EX will the CC's get my score/report? I don't want to pay them off until I know for sure the CC's know my current score/report, to lessen the chance of them lowering my limit. Any advice?

2 REPLIES
Epic Contributor

Re: CL lowering question

it's hard to say, BofA has been going crazy over the last year with cutting and closing CL's.  Chase you might be able to sneak by if you lay low for a little bit after paying them off. Credit Reports should be updated pretty much right away when company sends fixes

New Contributor

Re: CL lowering question

I recently felt the pain of a lowered CL via US Bank. I was approved for a CC with a $1000 CL in Feb and one day last month, I noticed that my limit was slashed by 50%!! Down to $500!! The changes in my credit profile has only been better since being approved (no lates, collection dropped off, never over limit, late or carry a balance). I wonder if it was b/c they weren't making any money on me? LOL. I have 2 checking accounts, a savings and line of credit with US Bank and willing to close them all and go with a CU. I am going to meet with the branch manager that set me up this week to basically tell him to fix this or I walk. We'll see how this goes! Smiley Happy


Starting Score: 711
Current Score: 802
Goal Score: 820


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