Nightmares about more AAs

Anonymous · ‎12-31-2015

I received my first AA from PayPal smart connect and now I am having nightmares about my other card companies doing it. I'm afraid to continue making large payments to stay on track of being credit card debt free by March. In the few weeks I've been working hard to work on my credit it's been honestly depressing. Credit score either not moving or going down by a few points then this AA. What's so blinding about the AA is there's no real warning like it's coming, similar to getting rear-ended or side swiped. *sigh* just doing my own little pitty party.

Imperfectfuture · ‎12-31-2015

Smart connect is a hidden trade line.

Signature needs updating

elim · ‎12-31-2015

what did they do? lower your limit? balance chase?

stay on track and pay it all off.

takeshi74 · ‎12-31-2015

There are warning signs. You may not recognize them but you are exceeding the risk tolerance thresholds of creditors that take AA. They don't just randomly pick on people. Your creditors are looking at your reports and reacting to data in your reports.

Your BK is one issue. Your low scores indicate that there are issues with your credit profile. These will restrict the activity that is considered safe for you. Your low limits indicate that your creditors are concerned about those issues with your credit profile. You will have to be more careful than someone with a credit profile in better standing. The most likely candiates to explain the cause(s) of the AA you're encountering are your reported revolving utilziation and/or new credit seeking activity. If you are willing to share some information about your profile we can certainly help you to understand why you're running into AA.

@Anonymous wrote:
I'm afraid to continue making large payments to stay on track of being credit card debt free by March

Whether or not you're being balance chased, high revolving utilization will not help you.

Anonymous · ‎12-31-2015

I mean no warning as in any way of them saying "hey....we're going to decrease your credit because of...." opposed to me making large payments and them lowering my credit.
I will continue to make my large payments get them paid off. I know the old BK doesn't help. That will be off in a few years. I'm sure this was triggered due to being app happy and asking for CLI since I'm getting lots paid off.
It will all balance out in time. Ive read there is nothing I can do to stop balance chasing, if it's going to happen it's going to happen. As you've stated something has triggered it and I'm sure it was due to what I mentioned in the last paragraph.

Gmood1 · ‎12-31-2015

@Anonymous wrote:
I mean no warning as in any way of them saying "hey....we're going to decrease your credit because of...." opposed to me making large payments and them lowering my credit.
I will continue to make my large payments get them paid off. I know the old BK doesn't help. That will be off in a few years. I'm sure this was triggered due to being app happy and asking for CLI since I'm getting lots paid off.
It will all balance out in time. Ive read there is nothing I can do to stop balance chasing, if it's going to happen it's going to happen. As you've stated something has triggered it and I'm sure it was due to what I mentioned in the last paragraph.

You keep mentioning large pay offs. How's your utilization?

Anonymous · ‎12-31-2015

It was at 80% beginning of this month. I've worked my way down to 60% as of last week.

Gmood1 · ‎12-31-2015

@Anonymous wrote:
It was at 80% beginning of this month. I've worked my way down to 60% as of last week.

Well there you go, sorry to hear they CLD you. It can happen to any of us. Just one tradeline ..you'll have many more in the future. Get your util down between 1 and 9% ..keep it there. Your scores will rise quickly. Do not charge on your cards what you can't pay for in full. I can understand emergency situations. No wanted items, those can wait.

Anonymous · ‎12-31-2015

Yup....Ive been clocking a lot of extra hours at work so I can pay them off much quicker. I have my one capital 1 card that I've started using for all my everyday purchases. It's really made me curb my spending because I think to myself "do I really want to go make a PIF payment on this item?". If the answer is "no" I walk away.

core · ‎12-31-2015

@Imperfectfuture wrote:
Smart connect is a hidden trade line.

That's a new one for me. Never heard that and my Smart Connect line is certainly reporting everywhere. BillMeLater or whatever they call that nowadays is the hidden one, as I recall.