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@jlfce1 wrote:Clearly from everyone's responses it appears that you now know the reasoning behind the CLD.
I'm sorry this happened to you. This happened to me too, but with Citi. I think this board is helpful when people stop pointing fingers and just help educate. It took a lot for you to come forward to share your experience so I'm sure it's discouraging to have all the finger pointing.
I had no idea this could happen until it did happen to me. And at the same time, I had no idea how utilization effects your score and how lenders see you until I joined this forum. My situation is somewhat different, but pretty similar. My utilization was HIGH and I had more than a handful of cards maxed out. My uneducated understanding was hey, if they're going to give me that CL, use it! I was WRONG. So when I joined, I learned I needed to get my utilization DOWN! Well, I did just that. I paid off everything with the exception of my Citi card. It was my highest CL at the time at $6,000 (card member since 2006) so I made a $4100 payment thinking that I could then pay the rest within the next two months because after paying down all my others to 0 (which were higher than my citi APR) this is what I had left. I figured...no big deal, my card is going from maxed to 30%. At this point I learned my lesson and realize, PIF each month...GOT IT, moving forward with my now educated self with credit. Well, Citi didn't get the memo. The day after my $4100 payment posted, my CL was decreased to $2,000. At first I was SO angry because now, I'm back up to my card being maxed. They stated too many high balances, etc., Well, true but I had paid off $18,000 and it just hadn't been reported. Needless to say, I'm still at CL of 2,000, but my utilization is <7%...needless to say, valuable lesson learned all around. The next month I quickly paid another $1300 leaving a balance of 800 which I BT'd at 0% for 12 months with BofA (will pay it off in 1). Of course I'm keeping my Citi card - this was all my fault to begin with but with my lesson learned...I'm going to show them that I am worth an increase and get it back up there...and even higher!! :-)
When these things happen the important part is learning from them, then they become valuable. I can say I know what you're going through. Reading through others experiences on this forum has helped me tremendously. It was helpful immediately and for the rest of my life. The knowledge on here is priceless.
Good Luck!! I hope this helps to show you....it all works out in the end!
+1 I agree! I am relatively new to this forum and I have seen quite a lot of post where an OP will come on here and have the courage to share their experience...they are already feeling down as it is, and people just pounce on them and show no mercy! Sheesh! It's made me hestitant and careful of what I share on here. We have all made mistakes with our credit which is why many of us are on here. It took me some time to learn about credit again. Back in the day, all most creditor's where concerned with is if you made your payments. Now, times have changed and it's that and a lot of other things that are considered. It takes time to learn..that's what we are on here for. Not to kick someone while they are down.
To the original poster....Sorry about your CLD, do what you can do to pay of your balances and get them low. You may not be able to do it fast, take your time. You will recover from this. Lesson learned. In six months with chopping down your balances, you will bounce back!
@09Lexie wrote:
@jifce1
I agree with you that this board is to help educate and not point fingers. The majority of the time it far exceeds that statement. In this case, OP first posted about getting over his head almost 6 mos ago and asked for and received excellent non-fingerpointing advice. It appears from his recent comments (ie trip abroad and high util) that he did not listen and is back now asking how GE can get his CLDs reversed.
I too, learn from others experiences and try my hardest to not repeat the mistakes from my past. I hope that OP understands that these comments though some may call harsh - should be considered for what they are; constructive criticism.
From Jan:
http://ficoforums.myfico.com/t5/Credit-Cards/If-someone-could-shed-some-advice/m-p/1805437#M503299
Oh I see-then I guess I will put emphasis on learning from your lesson. I know I have. There's a ton of things I'd like to apply for with the bonus, etc., but I don't have the need to spend the cash. My goal is to apply for a house June 2014-so, thank goodness for this board...because had I not learned a thing...I would have been in an even worse place come pre-approval time for my mortgage! Self Control is key!
Loan consolidation is the only way to go. I agree with trying lending tree, or maybe a loan from a credit union. Don't know if a bank will give the OP any love at this point...
I'm relatively new here, and I just want to say this: I don't think anyone responded in a harsh way, but my skin is pretty thick (and whenever I share details, I prepare myself for what may follow). You need a thick skin to interact in a public forum.I think a few folks just hit straight, with no chaser...but that's the way I like it, so I can take it, as well as give it. I also think that when you share your experiences in a public forum, you have to remember that nobody knows anyone else (unless you do happen to know the folks you're responding to). The good part is that it really makes no sense to get too bent about a stranger's assessment of your situation.
Finally, there always needs to be balance with any perspective. You have the "It's okay. I've been where you are. You'll be fine" folks, along with the "What the HECK were you thinking???" crowd - both are needed. So, take away what is beneficial (which isn't always what you want to hear), and shake off the rest. Also, someone's "harsh" response may prevent someone who's reading from getting in over their head, which is good ultimately. Everything is not for everybody, but something is probably for somebody.
@CreditCardDiva wrote:I'm relatively new here, and I just want to say this: I don't think anyone responded in a harsh way, but my skin is pretty thick (and whenever I share details, I prepare myself for what may follow). You need a thick skin to interact in a public forum.I think a few folks just hit straight, with no chaser...but that's the way I like it, so I can take it, as well as give it. I also think that when you share your experiences in a public forum, you have to remember that nobody knows anyone else (unless you do happen to know the folks you're responding to). The good part is that it really makes no sense to get too bent about a stranger's assessment of your situation.
Finally, there always needs to be balance with any perspective. You have the "It's okay. I've been where you are. You'll be fine" folks, along with the "What the HECK were you thinking???" crowd - both are needed. So, take away what is beneficial (which isn't always what you want to hear), and shake off the rest. Also, someone's "harsh" response may prevent someone who's reading from getting in over their head, which is good ultimately. Everything is not for everybody, but something is probably for somebody.
Absolutely true...but in this case, the OP had been given advice previously and all this could have been avoided. But hopefully the importance of credit responsibility will finally sink in!
@JonStur wrote:
@CreditCardDiva wrote:I'm relatively new here, and I just want to say this: I don't think anyone responded in a harsh way, but my skin is pretty thick (and whenever I share details, I prepare myself for what may follow). You need a thick skin to interact in a public forum.I think a few folks just hit straight, with no chaser...but that's the way I like it, so I can take it, as well as give it. I also think that when you share your experiences in a public forum, you have to remember that nobody knows anyone else (unless you do happen to know the folks you're responding to). The good part is that it really makes no sense to get too bent about a stranger's assessment of your situation.
Finally, there always needs to be balance with any perspective. You have the "It's okay. I've been where you are. You'll be fine" folks, along with the "What the HECK were you thinking???" crowd - both are needed. So, take away what is beneficial (which isn't always what you want to hear), and shake off the rest. Also, someone's "harsh" response may prevent someone who's reading from getting in over their head, which is good ultimately. Everything is not for everybody, but something is probably for somebody.Absolutely true...but in this case, the OP had been given advice previously and all this could have been avoided. But hopefully the importance of credit responsibility will finally sink in!
Oh...I totally agree with you. I don't know the history, but I understand the principle
@CreditCardDiva wrote:I'm relatively new here, and I just want to say this: I don't think anyone responded in a harsh way, but my skin is pretty thick (and whenever I share details, I prepare myself for what may follow). You need a thick skin to interact in a public forum.I think a few folks just hit straight, with no chaser...but that's the way I like it, so I can take it, as well as give it. I also think that when you share your experiences in a public forum, you have to remember that nobody knows anyone else (unless you do happen to know the folks you're responding to). The good part is that it really makes no sense to get too bent about a stranger's assessment of your situation.
Finally, there always needs to be balance with any perspective. You have the "It's okay. I've been where you are. You'll be fine" folks, along with the "What the HECK were you thinking???" crowd - both are needed. So, take away what is beneficial (which isn't always what you want to hear), and shake off the rest. Also, someone's "harsh" response may prevent someone who's reading from getting in over their head, which is good ultimately. Everything is not for everybody, but something is probably for somebody.
You make a good point..