@crunching_numbers wrote:
@JenniferinFL wrote:
@crunching_numbers wrote:I am sorry that you were balance chased. We have been victims of it ourselves. Sometimes they balance chase when they see that you have an inq from a mortgage company. There is a good chance this was more related to the mortgage than your payment history. They did it to us when we did a refinance. Chased down several cards and totally blew our scores. The part that helped us is that the lower CL's did not hit our reports until after we closed, so it did not affect our financing.
From what I have read, they think that you will run out and charge all kinds of new stuff for your new home, and have difficulty paying your new higher bills. I think it is a load of hogwash.
EDITED TO ADD: Our of curiousity, who else balance chased you? I don't want to do business with companies who balance chase for no reason.
I just don't get why they didn't do it sooner. We've had mortgage inquiries for a couple years now. I just checked his credit again, nothing new on it at all.
I think it's part strategic, he doesn't have another major credit card with enough available credit limit to take on that $900. I think the strategy was that they thought we would charge a couple things throughout the month and they'd get to hit us with an overlimit fee, raise our interest and all that fun stuff and there'd be nothing we could do about it. I'm just glad I checked it again today!
Oh well, his Cap one will report a zero balance again on the 22nd, so, as soon as the statement generates I'll balance transfer the remaining $258. Hopefully nothing else reports until after the house closes. I'm glad I'm not on the mortgage so that I can sacrifice my utilization to salvage this. That card is never seeing the light of day again. That card was his highest limit, so, it's going to be tough to get him another real card. His only cards are that one, cap one platinum with a tiny limit of $300, and a carecredit account. He has a paypal smart connect too, but, I don't know if that counts as more than a store card. He also has a Zync charge. I was really hoping he could get another real card shortly after closing on the house, but, doesn't look like that's going to happen.
Sears Citi, Chase (on more than one account), and B of A. All within 30 days of the mortgage inq's posting. Big CLD's on some. (Like card was at 50%, they cut the line by all open credit). Our util was high. Thing is, this was a no cash out refi with equity in the house. We were not trying to get new credit at all at the time, just refinance for a better rate. DH was chased again last year. The Chase acct that chased him is getting min payments until everybody else is paid off. I will not give them much of a chance for Chase to chase him again on that account. They are my very last priority.
Yeah, Chase and BOA balance chased me way back when. Though, I guess since I utlimately ended up in bankruptcy,I didn't think anything of it. Those will be two more he never applies for then.. lol
@clocktick wrote:What is the credit limit on the card? When was the last time it reported $0?
The credit limit was $2000, now it's $1050. It has never reported $0. Didn't understand how the credit score thing worked so when he did pay in full it was always after the statement date.
Well, my husband called and they told him the reason they decreased his credit limit was because he was over 50% utilization on the 16th. But, he was at 40% utilization on that date. Of course, he just rolled over like the lackluster mediocre man he is and said "yes maam, no maam" through the whole conversation. I don't know why I spend so much time fighting for him when he doesn't care enough to do anything for himself anyways. Tempted to cancel the balance transfer that would hurt my credit and just let him get burned, because he deserves it. Instead of getting to pay for my classes this semester with my 0% financing card, I paid for his balance transfer. Now I'll be a year behind graduating and he just doesn't care. Not even enough to put in half of an effort on a reconsideration phone call.
I don't know who I'm angrier at now..
Well, I got off the phone with them. My husband gave them permission to speak to me instead since I'm an authorized user on the account. He told me that my husbands fico score was 659 as of May 16th and that he had a recent collection which is why they lowered his credit limit. I just pulled a credit report from here and his credit is 708 and no collection.
So, either they're lying to me, or some crap is getting ready to hit his credit report. Is there anywhere else to pull a fico score from? Obviously that's a huge discrepency.
EDITED to add: Well, just got done pulling his free annual credit report, no surprise, there's no collection there either.. lol.. The last time Sears soft pulled his credit was in March. So, they're lying about pulling his credit, lying about his credit score, lying about a collection.. lol
Alright, I guess that's all the info I needed. Sears is definitely not a creditor I want to work with in the future. Either they pulled someone else's report by mistake, or they're lying about everything.
@Anonymous wrote:Pull all three of his credit reports and if there is no May 16 collection on any of them then A- they are lying or B- they have inaccurate information.
I'm still working on it, 18 month old not cooperating.. lol..
The man I talked to said he pulled Equifax and that his Equifax score was 659. I asked him to verify that it definitely was Equifax. So, I did already pull Equifax and those issues weren't on it. The last time Sears softpulled his report was back in March. His Equifax score here as of today is 708, just got a score watch alert about his balance change on Amex. So, I called them back again and asked when his report was from. At first the guy said it was from May 16th, so I asked him if that wasn't just the date the decision was made and perhaps the credit score was from an earlier date. He confirmed that last pull was in March and they just got around to credit limit decreasing him now. He said he doesn't know why the other rep said there was a collection as they can't see any of that information, just the score and reason for a low score which was too high of balances on revolving accounts. That may have well been the case in March, I think he had a few days there where it looked like all his cards had a balance before they started reporting $0.
Asked if they could do another soft pull, and he said no, they only soft pull every 6 months. I asked if his credit limit was going to be decreased further, and he said probably every 6 months. So, yeah.. What a pack of winners. Even though I explained that he just had a couple days with balances on all accounts and that's when they happened to pull, he still wouldn't do another soft pull or transfer me to a manager. Oh well, I guess that's why we're gunning for Discover as soon as the house closes and why he opened an Amex Zync, so he has a chance at a revolver in the future.
Don't feel bad...I have a Sears/Citi card that had a $2,700 CL....Well one day I receved a letter that they were lowering the CL to $250! They said I have late payments, plus a account in collections!!! I checked my credit report ASAP....Nothing on it. Soooo I called and asked who fat fingered my account? The account rep old me that this came from my credit report, so I asked which one....Are you ready for this? they told me they didn't have to tell me! I have a 760 for a credit score....Well Sears can keep their 22.99% card, and I'll use my other cards that are at 11.99%.....What a bunch of losers!!!
Starting Score: 675