Interesting experience

[RicknTX]

Hi all,

We've had an interesting experience recently..  Over the past year or so we've carried high balances on our cards and when we received our bonus this fall, we decided to pay down the cards to get our UTIL down.  

We staggered out the payments to allow things to report over about 3 months and have been seeing the updates as the banks report.  Over the past two weeks, USAA and AMEX both went in and did a CLD suddenly.  We didn't have any late pays or anything, just very high UTIL.

Pulling our credit reports, we can't see anything negative on there other than our BK from 2005 but that has been on there and is almost to the point where it will drop off next summer.  

Is the paydown/off triggering concerns possibly for the banks?  So far, only USAA and AMEX have done it.  For AMEX we've been using and PIF since the initial payoff.  

USAA $6k -> $3500 and $4k -> $3500

AMEX $3800 -> $1k

Should I ask them to recon, or just let them sit and see that we're still managing credit positively on their own?  

Thanks in advance!!

Our scores are like 699 since the payoffs, before they were like 655 and they keep going up as the reports occur that we've paid off.  

[ojefferyo]

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@RicknTX wrote:

Hi all,

We've had an interesting experience recently..  Over the past year or so we've carried high balances on our cards and when we received our bonus this fall, we decided to pay down the cards to get our UTIL down.  

We staggered out the payments to allow things to report over about 3 months and have been seeing the updates as the banks report.  Over the past two weeks, USAA and AMEX both went in and did a CLD suddenly.  We didn't have any late pays or anything, just very high UTIL.

Pulling our credit reports, we can't see anything negative on there other than our BK from 2005 but that has been on there and is almost to the point where it will drop off next summer.  

Is the paydown/off triggering concerns possibly for the banks?  So far, only USAA and AMEX have done it.  For AMEX we've been using and PIF since the initial payoff.  

USAA $6k -> $3500 and $4k -> $3500

AMEX $3800 -> $1k

Should I ask them to recon, or just let them sit and see that we're still managing credit positively on their own?  

Thanks in advance!!

Our scores are like 699 since the payoffs, before they were like 655 and they keep going up as the reports occur that we've paid off.  

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How long were you carry those balances for? I know that AMEX doesn't really like balances and from what I hear/read have been know to CLD afterwards.

What were your balance to credit limit?

[RicknTX]

Hi,

I know it was upward of about 85% for about a year or so.  

Things were pretty tight this year until we received our bonuses from work and paid things off.  My overall UTIL is like 11% right now.

I was hoping that by paying things down over a few months it wouldn't be a 'shock' to my credit report, but it seems like as soon as I got those down, they pulled things back on me.  I'm thankful they didn't do it while it was in high UTIL, but still hoped that they wouldn't pull back the CL on the cards once they were down considering we always paid on time, just not PIF.

You think I should just let them sit and keep the UTIL down with PIF a few months or call for recon?  

I was actually thinking about a PC on my AMEX (Delta Gold) since I don't really travel as much anymore, but I don't know if they would do it if they just pulled my CL down on the card.  Talk about timing LOL.

Thanks again!

[Chris679]

High balances multiple cards for extended periods is a big sign of risk to lenders especially if you applied for any new accounts. That being said, since you paid them off you could probably call and get the lines reinstated.

[elim]

how high were the balances? more than 80%?

sorry to hear about the CLD's, maybe the limits will return after several months of PIF on all cards.

edit: ahh i see 85%. i hear CCC's don't like that and has put the fear in me to PIF on all accounts unless an emergency arises. saves me lot's of interest (100%)

[ojefferyo]

Give them a call and state your case, worst they could say is no and just wait it out.