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OK folks, I'm doing SOMETHING wrong and I can't see it. I need some help.
DW and I bought a home at the end of 2013. After closing, she opened several new credit card accounts including a Hope Depot card that opened with a $5500 credit line.
I know from others experiences not to leave Home Depot unused for long... so we have purchased something or other at least every six months, sometimes carried a balance, sometimes paid in full, never a late payment, never approached 30% utilization on that card.
In the name of full disclosure, we've had OTHER accounts maxed out for quite some time...most of 2015 in fact. Never a late payment or over the limit anywhere, but we had quite a few cards maxed out for quite a while....no troubles, no AA.
As our financial situation has improved in 2016, I am proud to report that we have ZERO accounts maxed out. Balances are going down, utilization is improving, credit scores are going up....
...and NOW we get an email that Home Depot has slashed her CL to $500.
I'll add that we were keeping that card open and empty because we KNOW that we're going to have to purchase an air conditioner eventually, and wanted the long term financing deal that they offer.
So we used the account...never over utilized it, never a late payment or any problems with it...and now, NOW that our situation is IMPROVING, they slash her credit line.
**bleep**?
*edit... I got bleeped... *
That was supposed to say, "Whiskey Tango Foxtrot"....
Its all good lowe's with a higher limit has the family name on it
So the AC is still a go whenever
Ive carried a high balance on half my cards ffor a bit, started paying some cards down (double or triple payments) and presto Macy's took my limit to 100 dollars. Its the only card that did it.
I cant stand Lowe's, some employee kicked me out as a kid and I was'nt doing anything at all, walking around looking at stuff. Took my mom 45 mintues to figure out I was standing out in front of the store when she was ready to leave.
Sucks they lowered your limit, hopefully its the only one they lower
*edit*
its your other cards, high balances that is doing it. (IMHO)
@Kirmie2010 wrote:Ive carried a high balance on half my cards ffor a bit, started paying some cards down (double or triple payments) and presto Macy's took my limit to 100 dollars. Its the only card that did it.
I cant stand Lowe's, some employee kicked me out as a kid and I was'nt doing anything at all, walking around looking at stuff. Took my mom 45 mintues to figure out I was standing out in front of the store when she was ready to leave.
Sucks they lowered your limit, hopefully its the only one they lower
*edit*
its your other cards, high balances that is doing it. (IMHO)
...and if they had done it last year, I'd agree with you.
Where I'm stuck is the whole NOW, and for the last three or four months or so, our balances are going DOWN.... our UTIL is going down... our SCORES are going UP, and NOW they CLD???
Didn't she recently add some inquiries/applications? You mentioned in the garden club. That could have been a trigger point too -- credit seeking along with the high balances, and AA can follow. Sorry to hear it; luckily Home Depot isn't a must have card for most people.
@kdm31091 wrote:Didn't she recently add some inquiries/applications? You mentioned in the garden club. That could have been a trigger point too -- credit seeking along with the high balances, and AA can follow. Sorry to hear it; luckily Home Depot isn't a must have card for most people.
She did, and it isn't. (Thank you for that...)
@myjourney wrote:Its all good lowe's with a higher limit has the family name on it
So the AC is still a go whenever
We both have Lowes cards, but we both have balances on our Lowes cards...both on the 5.99% 84 month low interest plan. (we've met )
BETWEEN them, we could probably pull of an AC, but then we'd lose the financing deal, I fear.
AC is already running this year and working just fine so far. Honestly, we didn't expect it to make it through LAST year, so we're just keeping our fingers crossed at the moment.
@tcbofade wrote:
@myjourney wrote:Its all good lowe's with a higher limit has the family name on it
So the AC is still a go whenever
We both have Lowes cards, but we both have balances on our Lowes cards...both on the 5.99% 84 month low interest plan. (we've met )
BETWEEN them, we could probably pull of an AC, but then we'd lose the financing deal, I fear.
AC is already running this year and working just fine so far. Honestly, we didn't expect it to make it through LAST year, so we're just keeping our fingers crossed at the moment.
Call credit solutions and say the AC went out and we need to bump it to 25k or whatever amount HD card was
UTL purposes
Oh X 2