Hello Everyone! - Question about Syynchrony CLD. Close or pay down?

[Anonymous]

Good Morning!

I have been working on my cresit score now for a few years and I am finally in a financial position to be strategic about this. Prior I was just surviving.  I have been reading the threads and I am really excited to be a part of such a financially savvy community. My most recent struggle has been with a TJ Maxx CC with Synchrony that I got a few years ago.  As I pay it down, they chase my limit down as well so my usage is still at 97% even though I just made a $1000 payment. In one of the forums I read, a person suggested closing the account immediately so that the current credit limit stays where it is, in stead of slowly watching the CL get lower and lower as I pay off the card.  No recent "baddies". My income has gone up about 10k this year, I have a steady gov job and a business. I refinanced with an unsecured personal loan and paid down a bunch of cards including the TJ maxx one. My reward was a CLD. I am not interested in this card anymore.  Should I just cancel and pay off? 

[Anonymous]

Seems like you know the answer, pay it off and close it or pay it off and keep whatever limit they leave on it. You probably should look see why they are balance chasing you and work on that.

[CreditMagic7]

Hi

What your currently going through i would suggest is a growing pain that comes in on you at the worse possibly times occasionally.

I'll leave it to others to suggest for you the best decision right now whether to close or not. Personally that can viewed as a card account that's tagged and so is not going to be of much confidence for you or your profile as it stands right now.

It's a true tight wire act sometimes when it comes to utilization and in the future it's best to do everything you can not to cross certain thresholds. You can get more up to speed on which lenders are more aggressive with this by combing this forum like a study hall and draw out a plan where you can sort of set the order of lenders for yourself who are the one's that are likely to have a low bar for certain conditions compared to those who offer more space to accommadate the way you plan to spend on your cards and for how long they approve or disapprove before falling into this type of action.

Hope a little of this makes sense for you.