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Letter from USAA "your credit limit may change"

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Anonymous
Not applicable

Re: Letter from USAA "your credit limit may change"

Interesting thread. Thanks for posting. Although I don't have an USAA card, I like to read about possible trends in the making.

Message 11 of 23
awp317
Frequent Contributor

Re: Letter from USAA "your credit limit may change"

Nothing happened as of yet. Still waiting for my statement to cut, which does on the 15th. Will see what happens in the next couple weeks. I did use it for a couple grand worth of spend these last couple weeks and just paid it off today. So IDK. I figured the over all credit exposure was a thing too but when I called in I asked if we could update my income as its higher now than it was when I applied for the card and she said that wouldnt matter so who knows haha. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 12 of 23
awp317
Frequent Contributor

Re: Letter from USAA "your credit limit may change"

Just logged in today. Slashed to 3,500. Down from 35,000. This card is definatly being closed. On the phone now and she told me limits are only closed when the card isnt used in a while. I had 13k on it in march of this year and paid it off in april. So I guess that wasnt good enough. the rep even said "when you have large limits that arent used it can hurt your credit" So obviously they have no idea what their talking about. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 13 of 23
UncleB
Credit Mentor

Re: Letter from USAA "your credit limit may change"


@awp317 wrote:

Just logged in today. Slashed to 3,500. Down from 35,000. This card is definatly being closed. On the phone now and she told me limits are only closed when the card isnt used in a while. I had 13k on it in march of this year and paid it off in april. So I guess that wasnt good enough. the rep even said "when you have large limits that arent used it can hurt your credit" So obviously they have no idea what their talking about. 


I'm sorry to hear about this, and a bit surprised in USAA.  Since the limit was only reduced due to non-use, will they allow you to request a CLI to restore it?

Message 14 of 23
awp317
Frequent Contributor

Re: Letter from USAA "your credit limit may change"


@UncleB wrote:

@awp317 wrote:

Just logged in today. Slashed to 3,500. Down from 35,000. This card is definatly being closed. On the phone now and she told me limits are only closed when the card isnt used in a while. I had 13k on it in march of this year and paid it off in april. So I guess that wasnt good enough. the rep even said "when you have large limits that arent used it can hurt your credit" So obviously they have no idea what their talking about. 


I'm sorry to hear about this, and a bit surprised in USAA.  Since the limit was only reduced due to non-use, will they allow you to request a CLI to restore it?


She said I could but they would pull my credit. I told her I would rather have my credit pulled with a different bank, and to close the account. Most likely going to move my insurance as well. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 15 of 23
UncleB
Credit Mentor

Re: Letter from USAA "your credit limit may change"


@awp317 wrote:

@UncleB wrote:

@awp317 wrote:

Just logged in today. Slashed to 3,500. Down from 35,000. This card is definatly being closed. On the phone now and she told me limits are only closed when the card isnt used in a while. I had 13k on it in march of this year and paid it off in april. So I guess that wasnt good enough. the rep even said "when you have large limits that arent used it can hurt your credit" So obviously they have no idea what their talking about. 


I'm sorry to hear about this, and a bit surprised in USAA.  Since the limit was only reduced due to non-use, will they allow you to request a CLI to restore it?


She said I could but they would pull my credit. I told her I would rather have my credit pulled with a different bank, and to close the account. Most likely going to move my insurance as well. 


I understand the bad-taste with their credit card people, but if their insurance is competitive I wouldn't let them get rid of me that easily. 

 

When companies annoy me I tend to make them "put up" with me, but I can understand if you feel differently - we each have to do what's right for us.  Smiley Wink

Message 16 of 23
awp317
Frequent Contributor

Re: Letter from USAA "your credit limit may change"

I was loyal to USAA because in the past they were very good to me and the rest of my family, Even though the insurnace was a bit higher than others. But If A company wont stand behind me, im not going to continue to patronize them. The whole thing just felt weird to me I guess I wasnt using the card enough to warrant the limit extended. Its ok, others are giving me little Auto CLIs here and there. I am annoyed at the loss of the CL on my profile, but I think I will make up for it with other banks. I might give Navy Federal a try. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 17 of 23
Anonymous
Not applicable

Re: Letter from USAA "your credit limit may change"

Sorry to hear about this.
Message 18 of 23
UncleB
Credit Mentor

Re: Letter from USAA "your credit limit may change"


@awp317 wrote:

I was loyal to USAA because in the past they were very good to me and the rest of my family, Even though the insurnace was a bit higher than others. But If A company wont stand behind me, im not going to continue to patronize them. The whole thing just felt weird to me I guess I wasnt using the card enough to warrant the limit extended. Its ok, others are giving me little Auto CLIs here and there. I am annoyed at the loss of the CL on my profile, but I think I will make up for it with other banks. I might give Navy Federal a try. 


+1

 

If their rate is higher than other vendors, I would leave them as well.

 

FWIW, I've been very happy with my NFCU credit card, and I suspect you will be pleased with them as well.  Smiley Wink

Message 19 of 23
awp317
Frequent Contributor

Re: Letter from USAA "your credit limit may change"

Just to finish this out with info about me 

 

  My last lender pulled score showed Eq was in the high 780s. Only negitive is a 30 day late thats about 6 months old now (i was 849 before that). I purchased a new car 3 months ago and that was the score reported. I have opened 3 new accounts since then, including the car. Car loan and then two new cards in the company name (bank of a and chase ink). Other than that nothing has changed. The business accounts dont report to personal either (or havent yet) so that shouldnt have affected my AAOA. Just two more Inquiries. I have never once done a cash advance or balance transfer on this or any other card (or used those checks that USAA liked to send me almost on a monthy basis). I used the card in octover of 2014 for a 34k charge to put a new roof on my house (at the time was my highest SL) and carried that balance for about 3 months. Then paid it off in full ( I made about double the minimum payment for those 3 months until PIF) I figured it was better to pay them in one lump sum than in large chunks, Maybe that wasnt smart IDK? After that the card was sock drawered and I used it for the occasional spend here and there. 

 

  My monthy debts include my mortgage (opened march of 2014) for 8800 a month, my car which is 1574 a month (opened march of 16) , and im a co signer on a friends car loan for 875 a month (opened feb of 15). Other than that no other debt, My UTL is 2% I only have a balance reporting on my platinum card  and about 1100 reporting on the optima. Both of which are my daily driver cards and consistantly reports about 1-2k a month even though I PIF, the rest I pay off before they report a balance, but I do try to use all my cards for stuff just to avoid what happened today. 

 

  Now as far as income (i dont usually say my income on a public forum but I feel its vital to get the whole picture here) When I applied for the USAA card I reported 200k a year income and had a 728 score (was also showing almost 30 inquries lol), they approved me online for 20k, In 2014 after the mortgage closed I asked for a limit increase reporting the same income and they brought it to 35k, never asked for anything from them since.  My 2015 tax return income shows 325k and I made approx 400k (before deductions and including income thats not taxable) in 2015. She told me even with the increased income it wouldnt have mattered to them as it wasnt a debt to income issue, then again invited me to increase the limit with an HP but couldn't gaurentee I would be given the same limit I had (who knows might have given me more, but only for them to decrease it again 2 years later most likely) 

 

   So AA can happen to anybody, and from what I can tell at least no reason what so ever, she told me they did not SP my credit or even look at it, it was solely based on my USAA account history (which I have never been late for and always PIF when used except for the one large charge) I was about to begin an app spree but now im not so sure. Dont want to jinx my other accounts. Be carful out there. The only two banks to never ever give me any trouble in my life have been Chase and Bank Of America. Even when I had a balance of 52k on my chase card with a 25k limit. Chase even holds my mortgage too. Interesting day thats for sure. Still in shock of losing a 35k credit line to be honest. 

Amex Platinum NPSL I Chase Sapphire Reserve 78K I Chase Freedom U 55k I JP Morgan Ritz 50k I B OF A Cash Rewards 50k I Barclay Black Luxury 43,750 I Capital One QuickSilver 40K I Amex BCP 34k I Amex Optima Platinum 30k I Barclays Arrival+ World E 29k I Merril+ 27,800 I Lowes 25k I Pen Fed PR Visa Sig 20K I Home Depot 17k I NFCU Cash Rewards 8k

Amex Biz Platinum NPSL I Lowes Business 42k I Amex Simply Cash + $22,500 I Chase Ink 21K I B of A World Points $20,500 I B of A Bus MasterCard 16k I Amex SPG 3K.
Message 20 of 23
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