"Time since last past due is too short"

[kal9988]

Chase lowered my credit limit again, for having a high utl % and "Time since last past due is too short" -- what does that part mean?

Also, they ONLY checked experian, not the others. That really sucks.

[Creditaddict]

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@kal9988 wrote:

Chase lowered my credit limit again, for having a high utl % and "Time since last past due is too short" -- what does that part mean?

Also, they ONLY checked experian, not the others. That really sucks.

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Do you have negatives on your EX, like a late payment in the past?

I find when a creditor lowers your limit or closes your account, there reasons don't always make complete since, but they are required to give you some reason.

But if you did have high balance for a while and then you pay it down, you are likely to end up in the sights of that creditor

[kal9988]

hmm, but what does "Time since last past due is too short" mean?

[haulingthescoreup]

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@kal9988 wrote:

hmm, but what does "Time since last past due is too short" mean?

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It means that however long ago your most recent late payment is, it's recent enough that it's still hurting your score, or at any rate, that it's recent enough to bother Chase.

You could have perfect reports with one late from 5 years ago and still get this comment, depending on what else you had going on.

The thing to remember with negatives in scoring is "recency, severity, and frequency." In other words, how long ago did it happen, how bad was it, and how often has it happened (how many accounts, how often in one account.)

The factor you listed deals with recency.

[GregB]

It means you were late on something and it is too recent for their standards. Do you have a "30-day late" on your report?

It is possible that they have decided to be more picky about something that was on your report for a long time.

It is possible that they are just making something up. I had that experience with Amex when they were going nuts two years ago.