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Would Penfed CLD Me...

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Andy77
Valued Contributor

Would Penfed CLD Me...

 

So penfed just increased my limit from 5k to 20k.....but I cannot see myself even spending 3 or 4k on my card....I might spend 1500 and pay it off at end of month (i always pif)

 

If my score does not go down...meaning take a dive...do you think they will leave my credlit limit at 20k ?  OR will they CLD me saying I don't spend enough ?

Message 1 of 4
3 REPLIES 3
azguy13
Senior Contributor

Re: Would Penfed CLD Me...

As long as you use the card on a semi-regular basis, I wouldn't worry.

Message 2 of 4
gdale6
Moderator Emeritus

Re: Would Penfed CLD Me...

Creditors typically do not CLD accounts when there is little use, small balances relative to CL or no use at all. In these scenarios with your FICO not taking a dive there is no risk to the creditor. CLD is done when the creditor feels there is too much risk (high balances on multi cards, CAs showing up, etc). There are some that will CLD for non use if they are getting ready to close the account, GECRB is one but if you use it  prior to close the CL is usually fully restored.

Message 3 of 4
BigBS
Senior Contributor

Re: Would Penfed CLD Me...

I got my PenFed card in Jul 2011 with a $39k CL (requested a $20k BT) and paid it off in Mar 2012.  Made a $6k purchase in Jul 2012 and paid off in Mar of this year.  Nowhere did I come close to my CL and since I use the card for gas expenses from now on will never reach my CL, but they have not done a CLD on me.  All payments have been on time, so I think as others have said if you make payments on time and do not abuse the card you will be fine.

 

Conversely, I did have that happen with my AMEX BCP card.  Carried significant balances on it and pushed the late payment to 29 days on a few occasions and as I began to get control and pay down the balance they reduced my CL.  Thankfully, have been able to recover from it though.

Score: EQ(809) EX(819) TU(800)
INQs: EQ(7) EX(16) TU(8)
Last INQ: 13 Jul 23

Total Credit Limit - $2.0M

Message 4 of 4
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