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Use it or lose it - CLD?

Valued Contributor

Use it or lose it - CLD?

Do many credit card companys decrease your limit if you don't use the card for awhile? I believe Barclay notes that the card shouldn't go more than three months without being used. I have some cards that I don't use anymore but I give them love once in awhile just to keep them active.

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 1 of 7
6 REPLIES
Valued Contributor

Re: Use it or lose it - CLD?

In my experience, Synchrony (GE) will lower your limits if you do not use their cards. I got a letter from Home Depot a month or so ago saying that I had not used the card in 6 months, and if I did not use it by a certain date, they would be lowering the limit. They even said how much they would CLD to if I didn't use the card. I promptly went out and used it to buy some light bulbs and batteries.

 

Some cards are useful to have, even if you don't use them often. Other cards (from jewelry and furniture stores) are really hard to keep active, as for most people you are not buying that type of stuff on a regular basis.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, UMB Visa, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (4), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 801; TU MyFico: 799; EX (My Fico): 797
Message 2 of 7
Regular Contributor

Re: Use it or lose it - CLD?

You don't want to go too long without any activity on a card. So I would avoid going 6months+ without activity. Barclays is more sensitive than most.

 

As for CLD, the only card I've heard of doing that is the Macy's credit card. People report going from $5-6k limits down to $500 for lack of use.

 

YMMV. I haven't experienced any CLDs.


NPSL.................$30,000............$28,000.............$20,500............$28,000............$80,000............$19,000............$21,300..............$20,500
Current FICO Score Across All 3: 770+..... GOAL: 800+ Current Utilization: 5%....... Infiniti Financial Auto Loan at 1.9%
Message 3 of 7
Valued Contributor

Re: Use it or lose it - CLD?

Some time ago, I had not used my Walmart card for 4-5 mos, they lowered the limit down to $124. I called them and they said when they take the limit down to an amount ending in $24, it is their code for a card with no activity. The next step is for them to close it. I was told to use the card, and the limit would go back up. I went and charged a Pepsi and a bag of chips, and a couple days later the limit was restored.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, UMB Visa, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (4), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 801; TU MyFico: 799; EX (My Fico): 797
Message 4 of 7
Regular Contributor

Re: Use it or lose it - CLD?

This happened to our Discount Tire card from GE(Synchrony). They auto increased us from $500 to $1500 and we didn't even notice it until we bought our next set of tires. Then after we paid off that set of tires a few months later they dropped it back to $500. 

 

We also had a Bass Pro Shops card once that closed because we moved and there aren't any out here so we didn't use it for awhile. 

 

My Toys R us card also got closed because we didn't use it for a few months

Message 5 of 7
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Valued Contributor

Re: Use it or lose it - CLD?

Amazon never notified me before they CLDd me to 1100 from 2k. I hadn't used the card in a while.

As of 2017, rebuilding...
Message 6 of 7
Valued Contributor

Re: Use it or lose it - CLD?

So does just a little use keep them happy?  

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 7 of 7