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My Home Depot credit card was cancelled and I'm worried about my other Citi cards!

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pizza1
Community Leader
Super Contributor

Re: My Home Depot credit card was cancelled and I'm worried about my other Citi cards!


@Stepane wrote:

Thanks you guys so much for getting back to me! I'm going to try to contact the credit reporting companies to try to get the reports over the phone. 

I'm honestly not sure about the utilization. Some I use the heck out of and many I don't touch. There are some that are within like $1,000 of the $7,000 limit. I'm also very stupid in that I let somebody use my Walmart card and that's pretty close to limit. I've revoked the card. They pay the bill, but I know I'll have to help dig out of that. It's definitely possible Citi would have become spooked by utilization, though honestly, it's been like this for a few months. I just don't want to lose my beloved Costco Visa, so I know I've got to do everything I can to get this under control. 


Sounds like it could be a utilzation thing. Are you paying just the min payments required, or more? 

 

Add up all your CC credit limits and get a total. Then add up how much you owe on each card and get a grand total.  Divide the two, and that will give your overall utilization....

 

if its gone up over the last few months, and has been increasing, Citi might be spooked.  Hopefully youre able to get a handle on what going on.  On a side note....your Walmart card. YOu said "someone else is making the paymets".  Are you sure they are? 

Message 11 of 13
Stepane
Established Member

Re: My Home Depot credit card was cancelled and I'm worried about my other Citi cards!

I'm sure they are because I help them do it online.

 

I don't make minimum payments on all, but most. I'm trying to get rid of some of them so I can use their minimum payments to get rid of others. Just not sure yet of how good of a job I'm doing. Ha. I actually am done with one account as of last month, and am working on a new account with the money I was paying on the one I just paid off. Not much, but it's a start. I guess. 

Message 12 of 13
pizza1
Community Leader
Super Contributor

Re: My Home Depot credit card was cancelled and I'm worried about my other Citi cards!


@Stepane wrote:

I'm sure they are because I help them do it online.

 

I don't make minimum payments on all, but most. I'm trying to get rid of some of them so I can use their minimum payments to get rid of others. Just not sure yet of how good of a job I'm doing. Ha. I actually am done with one account as of last month, and am working on a new account with the money I was paying on the one I just paid off. Not much, but it's a start. I guess. 


sounds like you have a plan. 

 

Just dont CLOSE any of them until you have them all paid, or your score will tank even further.  YOu need all the help you can get in util right now.  My guess is your score dropped due to the closing of HD, and now HD isnt factored into your overall util because its  showing closed, thus increasing your overall util reported. 

Message 13 of 13
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