02-20-2009 02:28 AM
I use EQ Score Watch Gold which shows soft INQs. You could also order a hard copy of your CR from the CRAs which would also show them.
Does Score Watch Gold show softs for all 3 CRA or just EQ?
02-20-2009 06:51 AM
Earlier this month, my Walmart (600 CL) was CLD to 124. I went and charged 2 DVD's and when I received my statement, they had changed the CL back to 600. I have a Lowe's with a 1500 limit, that I used just once, and noticed the CLI request button on the account, and clicked it, and was approved for a 1500 CLI. Who knows what is going on, but it seems very random to me.
Random is right! I do not know if I should request a CLI on any of these accounts... I noticed that the first time around CLDs all came after I made such requests. A month later.. sinc JCP was all at $250.00 I figured I had nothing much to loose. I was quite shocked at the increase. One rep at Walmart had previously told me that although these companies use GEMB to finance the cards, the stores have say in setting the criteria for CLI. Maybe that is true. I am going to call Walmart to see if I can get at least some of that back. I want to call Paypal too.. since I still cannot log into that accout. I am thinking they closed the darn account. I PIF about 3 or 4 months ago... and refused to use it since.
02-20-2009 02:28 PM
My paypal got cut last week from $450 to $100, and now I can't logon to the site too!
Something's going on here. Have you heard anything from them?
Looks like the closed it. I called and the automated system said I had a 0 available balance. I do not have the time nor energy to go around and around with these people. So I just say forget it! The last time the cut my limit by 310 on the paypal... but offered to raise it so that I can make a purchase.... but the CL was going to go back down. I was once very happy with thie company, but now.... I am rather indifferent. I have three cards left with them... At the start of last year I had 7, I think... they have just slashed and closed accounts at will... and without warning. What if I were going to purchase something?
Call and see what the automated system says.
02-22-2009 04:22 PM
02-22-2009 09:00 PM
02-22-2009 10:47 PM
02-23-2009 05:20 AM
02-23-2009 07:35 AM - edited 02-23-2009 07:38 AM
With the risks for unsecured credit and the history of each individuals credit performance, it makes since to reduce the risk by slashing CL's in the times we are in. And as far as the stores themselves, yes they probably do have some say with what criteria is set to make those decisions of who is affected by a CLD and a CLI. After all the stores rely on financing as a major part of there sales. Credit Scores are not just the only factors that make the decision, however do play a huge role. GEMB is one of the first companies to cut CL's across the board given the risk that's at stake do to our poor economy right now. But the statement that says GEMB is loosing there a$$ right now.. you would be shocked to know that you are very wrong. The steps they have taken make complete sense to safeguard themselves from loosing there a$$'s off. Im sure they understand the needs and situations of there Ch's and us as Ch's never feel good when our CL's are Decreased but take a look at what we all are wanting to do... we want to get out from under Credit Cards and they have given us a reason and some motivation toward doing that by giving us a CLD. But maybe some of us are wanting the higher CL's but just not the high balance... well if this sudden CLD has shocked us into reexamining our credit worthiness, well im sure the focus on continuing to make timely payments and keeping our balances 10-25% all the time will boost our CL's in the coming year.
02-23-2009 07:40 AM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO