Old Navy Decreased Limits

Anonymous · ‎03-14-2015

I got an alert this morning that I had some account changes, go to look and ON dropped my limit from $300 to $200. We've only had that card 6 months, we've paid it on time, usually a few weeks early every month. I had just put some extra $ toward it to drop it below 50% and now it's back to 87%. I called and asked and she said they sent a letter on the 8th (guessing we'll get it today) but that they ran our CR and dropped it due to tradelines. And I'm guessing I triggered that when I reuested a line increase after we hit that 6-month mark since Cap One gave us an increase. Bah! I swear every time we start seeing progress, something backslides. Anyone have any experience with getting them to increase so soon after? The only thing that has changes since we opened the card was that we started running disputes, so that's the only thing that would have changed tradelines that I know of.

Anonymous · ‎03-14-2015

Open a second Cap One account and Kick Old Navy to the curb. Their tradeline isn't worth that kind of nonsense.

Anonymous · ‎03-14-2015

Since DH and I each have CapOne cards already, would putting each other on the opposite card as an authorized user have the same effect as opening a new card?

Anonymous · ‎03-14-2015

No, you each need to get three cards all in your own name. Don't go the AU route, it muddies the water in the eyes of many lenders, and the newer FICO model put less emphasis on AU accounts.

Anonymous · ‎03-14-2015

Okay, good to know.

I have a Cap One ($500), the ON (now $200), Gap ($300), Kohls($300), and a secured USAA ($450 - started at $200 but we've add to the CD to increase the limit). DH is an AU on all but my CapOne and he has his own Cap One. So we need two more for him and I'm fine?

Anonymous · ‎03-14-2015

I had an Old Navy card years ago when I had impeccable credit. It was the weirdest store card I ever had. Would purchase something nearly every month, then pay off the full balance when I received a statement. They would erratically lower or raise my limit, and I eventually became convinced it had more to do with the company's financial state than my credit report.

gdale6 · ‎03-14-2015

@Anonymous wrote:
Okay, good to know.

I have a Cap One ($500), the ON (now $200), Gap ($300), Kohls($300), and a secured USAA ($450 - started at $200 but we've add to the CD to increase the limit). DH is an AU on all but my CapOne and he has his own Cap One. So we need two more for him and I'm fine? yes, the 3 cards is just the minimum one needs, as your accounts age and your Fico increases you bulk up your portfolio with better cards ones that suit your spending habits.

Anonymous · ‎03-14-2015

Alright, we each have a second Cap One now with a $500 limit. He still needs one more and didn't qualify for a USAA un-secured. So we'll see what else we find for him.

Anonymous · ‎03-14-2015

A WalMart card might not be a bad idea. It's fairly easy to get and grows pretty well. I use mine during the 0% interest deals they offer. It's really great at Christmas time. I started with a $700 limit in November, nearly maxed it out at Christmas for the 0%, and paid it down to about $180 by March 1 even though I had 0% for 18 mos. I went to pay on it a few days ago and noticed a $500 auto CLI, taking it to $1200. Not everyone likes store cards, but if you shop there, why not take advantage of it?

Anonymous · ‎03-14-2015

@Anonymous wrote:
A WalMart card might not be a bad idea. It's fairly easy to get and grows pretty well. I use mine during the 0% interest deals they offer. It's really great at Christmas time. I started with a $700 limit in November, nearly maxed it out at Christmas for the 0%, and paid it down to about $180 by March 1 even though I had 0% for 18 mos. I went to pay on it a few days ago and noticed a $500 auto CLI, taking it to $1200. Not everyone likes store cards, but if you shop there, why not take advantage of it?

Except we don't shop there anyway. I'll have him give it a try though. I know he's applied for and been denied by Best Buy and Game Stop. I was really surprised he was able to get both Cap One's. I know he can get a secured USAA if all else fails.