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Has anyone else ever requested CLD???

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sarge12
Senior Contributor

Has anyone else ever requested CLD???

I always PIF all my revolving accounts. One recent card I got gave me a 12.5K SL. Since most of my cards were at 10K CL, I did not want that high of a limit on 1 card, so I requested a CLD to 10K. Could this hurt my credit score, and has anyone else ever done this? My utilization has never been over 10%.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 1 of 28
27 REPLIES 27
Anonymous
Not applicable

Re: Has anyone else ever requested CLD???

With that utilization you won't see a change in score. Some people have requested it and some will say it's stupid. Personally I think if you're uncomfortable with it then decrease it some. It won't hurt either way credit wise. There are decent arguments either way but this isn't about opinions it's about what makes you comfortable. Don't let anyone push you out of a financial comfort zone
Message 2 of 28
Creditplz
Valued Contributor

Re: Has anyone else ever requested CLD???

I'm thinking of CLD cards that are useless to me like Walmart and Bannana Republic, just because I don't want too much exposure with one lender and again they're useless to me, I will only keep Walmart open because of the free TU score Smiley Happy!
Message 3 of 28
Anonymous
Not applicable

Re: Has anyone else ever requested CLD???

I don't see why you would request it. Who cares if it's 2.5k more than you want...you don't have to spend it. And eventually your other cards will get up there, and especially for any future cards you apply for.

Message 4 of 28
irunfromcredit
Frequent Contributor

Re: Has anyone else ever requested CLD???


@Anonymous wrote:
With that utilization you won't see a change in score. Some people have requested it and some will say it's stupid. Personally I think if you're uncomfortable with it then decrease it some. It won't hurt either way credit wise. There are decent arguments either way but this isn't about opinions it's about what makes you comfortable. Don't let anyone push you out of a financial comfort zone

+1

Scores 8/25/2017~ TU: 753 / EXP: 742 / EQ: 726
Goal: 770's or higher by end of 2017
Message 5 of 28
irunfromcredit
Frequent Contributor

Re: Has anyone else ever requested CLD???


@sarge12 wrote:

I always PIF all my revolving accounts. One recent card I got gave me a 12.5K SL. Since most of my cards were at 10K CL, I did not want that high of a limit on 1 card, so I requested a CLD to 10K. Could this hurt my credit score, and has anyone else ever done this? My utilization has never been over 10%.


I actually requested a credit line decrease on two of my cards. I took $10k off of my Sam's club MC. And took $2k off my Banana Republic Card.  I did this two months ago and  it has not affected my score, I am stil hovering around mid 700's.  Like you my Uti is pretty low, around 1%.  Some folks will share a different opinion about CLD, but like another poster mentioned, you need to do what you are comfortable with.

Scores 8/25/2017~ TU: 753 / EXP: 742 / EQ: 726
Goal: 770's or higher by end of 2017
Message 6 of 28
Loquat
Moderator Emeritus

Re: Has anyone else ever requested CLD???


@Anonymous wrote:
With that utilization you won't see a change in score. Some people have requested it and some will say it's stupid. Personally I think if you're uncomfortable with it then decrease it some. It won't hurt either way credit wise. There are decent arguments either way but this isn't about opinions it's about what makes you comfortable. Don't let anyone push you out of a financial comfort zone

^^^^ This is spot on.  Wholeheartedly agree.

Message 7 of 28
kdm31091
Super Contributor

Re: Has anyone else ever requested CLD???

I don't think it's stupid; I think there are perfectly valid reasons to request a CLD. Some lenders may find excessive exposure undesirable, so reducing the limit on cards you don't really use makes plenty of sense.

Message 8 of 28
longtimelurker
Epic Contributor

Re: Has anyone else ever requested CLD???


@Anonymous wrote:

I don't see why you would request it. Who cares if it's 2.5k more than you want...you don't have to spend it. And eventually your other cards will get up there, and especially for any future cards you apply for.


That really depends where you are with credit.    If you have a lot of credit, especially with one lender, you may find it hard to get another card with them. 

 

And if you don't want "eyes on your account" for whatever reason, in some cases doing a CLD before an app will improve the chance of instant approval.   If you are nearing limits, it may go to a manual review.

Message 9 of 28
ddemari
Super Contributor

Re: Has anyone else ever requested CLD???

I have only CLD'd myself with Synchrony bank as I was over exposed with them. if a lower limit makes you happier than its a decesion I understand. I have some friends that cant have credit cards because they know that whatever their limit is, they are going to charge it up always and spend more. 

 

If you have good credit behaviors, then keeping the credit benefits you because its there in case you need it and its not always easy to get it back with certain banks when you need it. 

Message 10 of 28
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