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Valued Member
adoak
Posts: 28
Registered: ‎06-29-2012

Credit Card Limits

Hello everyone,

 

I joined the forum last summer and have been learning alot. Very informative.

 

The question I have today is related to credit card limits. In the past 18 months, I've opened a Capital One card ($500 limit), Saks ($900 limit), Bloomingdale's ($1000 limit) and Macy's ($300) limit.

 

I understand that Macy's and Bloomingdale's are "related" in that they are part of the Macy's portfolio of credit cards. It's interesting that I have low utilization on my credit cards and always PIF. Never been late. However, about 2 months ago Bloomingdale's reduced my credit line to $500. I don't understand why.  I've called Bloomingdales and they cannot explain to me why.  More interesting is the fact that I called Macy's and requested a CLI and I got it.  Macy's limit is now $1000.

 

Similary, Capital One and Saks are "related" in that Saks is part of the Capital One credit card portfolio.  I always PIF my Saks and Capital One accounts.  Never been late. Around the same time that my Bloominbdale's credit limit was reduced, my Saks credit limit was also reduced... to $505. I've called Saks, just like I called Bloomingdales, and I'm not really getting a satisfactory explanation of why my credit limits were reduced from say $1000 each to $500 each.

 

I've called Capital One to request a CLI and I can't get one.

 

One of the things that I think hurts my credit rebuilding is that I don't have a single credit card with a credit limit over $2000. 

 

I want to use my credit cards wisely. I believe I have been using them wisely.  I just don't understand why Saks and Bloomingdale's reduced my credit limits.  Seems to random.

 

FYI, my utilization is about 11% at the moment, based on my last Experian credit report.

 

Any insights would be appreciated. Thanks so much!

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Credit Card Limits

It may have been due to you opening too many accounts over a short period of time. Sometimes it scares the lender, especially if you already have a thin file to start with.

As long as they didn't close your account, all hope isn't lost. Just continue paying on time, and in full if possible, and they will trust you more over time and increase your limits.

Don't worry too much about it
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Member
adoak
Posts: 28
Registered: ‎06-29-2012

Re: Credit Card Limits

Thank you.

 

I thru a tantrum about 2 months ago when the credit limits on Saks and Bloomingdale's were reduced and I stopped using them.  Two months ago my Saks card had a balance of about $90, so I PIF.  Bloomingdale's had a balance of about $300, so I think I paid $100 towards my balance versus PIF.

 

I've done the same thing with Capital One.  My current balance is about $300 and earlier this week I paid $100 towards it versus PIF.

 

Are there instances, such as in my case... when having "thin credit" does PIF hurt me as a cardholder?

 

 

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Credit Card Limits

No paying in full is always good, regardless of how thick or thin your file is. Only reason to not pif is when there's a 0% apr promo.

Don't apply for any new cards for now, let your inquiries and account age, and you will be in good hands.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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