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Using a card after CLD/AA?

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racer-x
Valued Contributor

Using a card after CLD/AA?

I"ve a question about using cards after you've been given substantial CLD's.

 

To recap in the past 30 days:

 

Discover - 65% CLD to $4700

Chase CSP - 70% CLD to $4800

Chase Slate - 60% CLD to $1500

Chase Freedom - 60% CLD to $2200

- these accts have been PIF, $0 balance

 

and of course the good people at US Bank PLOC- 45% CLD, but crushed me with a 97.1% utilization, currently at 85% - just waiting to see if they balance chase me or not.

 

Overall utilization 18% btw.  1 paid small collection 4 yrs ago (not my fault, sorta). Squeaky clean everywhere else.

 

Question is, would you use the CLD'd cards and PIF like I did 95% of the 12-24 months that I've had the cards, in order to regain their trust, or stay pis sed and SD them?

I'm sure they're watching me closely.

 

Keep in mind i am a Scorpio -  the strongest, meanest, grudge holding, stubbornest, most determined of all the Zodiac.  Smiley Happy  

 

 

Message 1 of 16
15 REPLIES 15
Anonymous
Not applicable

Re: Using a card after CLD/AA?


@racer-x wrote:

I"ve a question about using cards after you've been given substantial CLD's.

 

To recap in the past 30 days:

 

Discover - 65% CLD to $4700

Chase CSP - 70% CLD to $4800

Chase Slate - 60% CLD to $1500

Chase Freedom - 60% CLD to $2200

- these accts have been PIF, $0 balance

 

and of course the good people at US Bank PLOC- 45% CLD, but crushed me with a 97.1% utilization, currently at 85% - just waiting to see if they balance chase me or not.

 

Overall utilization 18% btw.  1 paid small collection 4 yrs ago (not my fault, sorta). Squeaky clean everywhere else.

 

Question is, would you use the CLD'd cards and PIF like I did 95% of the 12-24 months that I've had the cards, in order to regain their trust, or stay pis sed and SD them?

I'm sure they're watching me closely.

 

Keep in mind i am a Scorpio -  the strongest, meanest, grudge holding, stubbornest, most determined of all the Zodiac.  Smiley Happy  

 

 


Is there any particular reason all of these lenders took action against you? I would look into that first.

Message 2 of 16
chalupaman
Super Contributor

Re: Using a card after CLD/AA?


@racer-x wrote:

I"ve a question about using cards after you've been given substantial CLD's.

 

To recap in the past 30 days:

 

Discover - 65% CLD to $4700

Chase CSP - 70% CLD to $4800

Chase Slate - 60% CLD to $1500

Chase Freedom - 60% CLD to $2200

- these accts have been PIF, $0 balance

 

and of course the good people at US Bank PLOC- 45% CLD, but crushed me with a 97.1% utilization, currently at 85% - just waiting to see if they balance chase me or not.

 

Overall utilization 18% btw.  1 paid small collection 4 yrs ago (not my fault, sorta). Squeaky clean everywhere else.

 

Question is, would you use the CLD'd cards and PIF like I did 95% of the 12-24 months that I've had the cards, in order to regain their trust, or stay pis sed and SD them?

I'm sure they're watching me closely.

 

Keep in mind i am a Scorpio -  the strongest, meanest, grudge holding, stubbornest, most determined of all the Zodiac.  Smiley Happy  

 

 


Wow! That's a whole lot of AA there. I'm amazed that none of those were just outright closed. I don't understand why they would do this to you but it'd be helpful to know more.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 3 of 16
racer-x
Valued Contributor

Re: Using a card after CLD/AA?

Pay attention fellas....ain't got time to explain again. lol

 

http://ficoforums.myfico.com/t5/Credit-Cards/Credit-Limit-Decrease-close-accounts/td-p/3740412

 

http://ficoforums.myfico.com/t5/Credit-Cards/CLD-again-US-Bank/td-p/3758289

 

In a nutshell, I carried balances on 4 accts for 3 months at the end of last year.  Period.  I always PIF, but my payment/charge history wasn't normal or consistent apparently for those 3 months.  US Bank whacked me because the CRA's aren't catching completely up with the PIF accts.  I've dropped $16 k in debt payment in 2 wks and prepared to do more.

 

Daughters lst year at college and unexpected extra tuition/expenses,  dad diagnosed with  terminal brain cancer, sister had double mastectomy (breast cancer)...bam bam bam.... I had to take a medical leave from work to tend to them.  He's in nursing home now, sister doing fine.  Things are smoothing out.  Go back to work in a week.  My emergency fund wasn't enough.

 

The end.

 

Just curios what people do after a CLD/AA and how it panned out afterwards...did people get CLI's over time, SD'd for life, closed accounts, etc....

 

Message 4 of 16
longtimelurker
Epic Contributor

Re: Using a card after CLD/AA?


@racer-x wrote:

Pay attention fellas....ain't got time to explain again. lol

 

http://ficoforums.myfico.com/t5/Credit-Cards/Credit-Limit-Decrease-close-accounts/td-p/3740412

 

http://ficoforums.myfico.com/t5/Credit-Cards/CLD-again-US-Bank/td-p/3758289


Right, because everyone knows who posted every thread and remembers everything!

 

I am frequently amused by posts that start "As most of you know, 4 weeks ago I applied for the Chase Freedom...."   I often find that strangely I have forgotten that momentous event

 

However, in this case, at least OPs story stands out.

Message 5 of 16
takeshi74
Senior Contributor

Re: Using a card after CLD/AA?


@racer-x wrote:

Question is, would you use the CLD'd cards and PIF like I did 95% of the 12-24 months that I've had the cards, in order to regain their trust, or stay pis sed and SD them?


Doesn't matter what others would do.  You need to decide for yourself but not based soley on emotion.  FWIW, I still have the 2 cards that were CLD'd years ago and now they have limits much higher than they ever were.

 


@longtimelurker wrote:

Right, because everyone knows who posted every thread and remembers everything!


This.  It should be understandable that people want to know the history in making their recommendations.  If you don't have time to explain, why do you assume that we have time to help you?  There are many many users on these forums and even though the linked thread got a lot of attention you can never assume that everyone knows your history.  The universe doesn't revolve around any individual no matter how that person's perspective may make it seem.

 

Honestly, the thread was tl;dr for me.  The situation seems unfortunate but creditors have to make assessments based on the same risk evaluations that are used for everyone.  Taking it personally and holding a grudge may make you overlook things.  If you need some clarity to help you in your decision making then give it some time, cool off and then list out the rational pros and cons and then decide.

 

I was certainly upset when I was CLD'd but closing wasn't going to improve my situation.  YMMV.

Message 6 of 16
TravellingNomad
Established Contributor

Re: Using a card after CLD/AA?

If you PIF the balances, they may leave you a low limit or close out the accounts altogether (since they are balance chasing you). If they don't close, as you said, use the cards again and PIF to show that you've got your finances in order. And hopefully in the future you can get the limits back up. Sorry to hear about your situation.

Message 7 of 16
racer-x
Valued Contributor

Re: Using a card after CLD/AA?

takeshi- I get that.  But like you stated in your circumstance, I'm curious to know  want happened with the accts after people were CLD/AA.

 

Message 8 of 16
racer-x
Valued Contributor

Re: Using a card after CLD/AA?

travelling -  the limits are 75% lower than pre-CLD.  Guess there is always lower...

Message 9 of 16
racer-x
Valued Contributor

Re: Using a card after CLD/AA?

takeshi - Are my emoticon smilies not working for you?   You know things like smilies, just kidding, lol....are all meant to be light in point.

 

 

From now on, it's all business.  Let me get my suit and tie on.  I'll be back.

 

 

 

Message 10 of 16
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