topic Re: Credit Line Decrease in Credit Cards

Credit Line Decrease

Anonymous — Tue, 15 Mar 2016 04:27:09 GMT

I see a ton of increases from the likes of Cap One, Walmart, and Amazon. Has anyone seen credit line decreases from Synchrony Bank in particular?

Re: Credit Line Decrease

baller4life — Tue, 15 Mar 2016 04:39:48 GMT

Yes but usually for inactivity. Don't hear of CLD due to AA often from Sync.

Re: Credit Line Decrease

ddemari — Tue, 15 Mar 2016 04:42:43 GMT

Agree, I read threads about people getting CLD'd on their Synch cards they havent touched in some time. I have a lot of synch cards, I usually try and use the major's monthly and the store cards at least once a quarter.

Re: Credit Line Decrease

Anonymous — Tue, 15 Mar 2016 04:48:48 GMT

Good to have some idea then. I have Walmart, Lowes, and Amazon with some prett good limits. I don't expect to hit them monthly, but I do use Amazon quite a bit. Much more than Walmart. Now Lowes may be a whole different topic for anyone. LOL Although I do hit them about 5 or 6 times per year.

Re: Credit Line Decrease

Anonymous — Tue, 15 Mar 2016 04:51:25 GMT

I had my syncrony card, which is tied to a small jewelry shop in Washington state drop from 2500 to 1500 due to over utilization on other accounts.

Re: Credit Line Decrease

Scott_S — Tue, 15 Mar 2016 04:53:14 GMT

Years ago when Sync was GEMB they decreased a few of my cards because of reported increased use on other issuers cards... I suppose they saw the increased use as an increasing risk....

Re: Credit Line Decrease

Anonymous — Tue, 15 Mar 2016 04:58:53 GMT

@Anonymous wrote:
Good to have some idea then. I have Walmart, Lowes, and Amazon with some prett good limits. I don't expect to hit them monthly, but I do use Amazon quite a bit. Much more than Walmart. Now Lowes may be a whole different topic for anyone. LOL Although I do hit them about 5 or 6 times per year.

If you own a house and have a Lowe's card, I am sure you have a lot of uses for it. I have only used my card 3 times in the last two-and-a-half years, but it has always had a balance on it (at 0% interest). Deferred interest is great. (You just have to be careful not to just pay the minimum)

Walmart is starting a cash back programme next month, that should make its card more attractive.

Re: Credit Line Decrease

UncleB — Tue, 15 Mar 2016 06:47:48 GMT

Years ago when I started having credit problems (with other lenders) Synchrony, then known as GEMB, balance chased my Lowe's until my credit line was under $500. I had never been late (and still haven't) but my scores were taking a hit at the time. That was years ago, and I've now got that very same account to $10k.

A relative had a similar experience with Care Credit just last year... a car he had co-signed for was repo'ed, and the next month his Care Credit limit was reduced by nearly half.

Those are my only personal experiences with AA from Synchrony. I'll just add that if it does happen, hang on to the account since when your situation changes it can definitely rebound.

Re: Credit Line Decrease

Anonymous — Tue, 15 Mar 2016 08:55:05 GMT

Hi Everyone - First time poster...Long time Lurker -

My WalMart card got bumped down today from 3300 to 1500. I haven't used it in almost 2 years, however I never like to see CLD's. So FWIW, I went back into the website, restated my income level (same as before) and my CL was instantly restored to the amount it was before. So, for those of you with massive CLD's, I'd suggest going back in and restating your income on these synchrony cards. It seemed to work for me. Maybe I'll throw them a bone and get an oil change tomorrow (I know..scary!!)

Re: Credit Line Decrease

lg8302ch — Tue, 15 Mar 2016 09:07:11 GMT

@Anonymous wrote:
Hi Everyone - First time poster...Long time Lurker -

My WalMart card got bumped down today from 3300 to 1500. I haven't used it in almost 2 years, however I never like to see CLD's. So FWIW, I went back into the website, restated my income level (same as before) and my CL was instantly restored to the amount it was before. So, for those of you with massive CLD's, I'd suggest going back in and restating your income on these synchrony cards. It seemed to work for me. Maybe I'll throw them a bone and get an oil change tomorrow (I know..scary!!)

Welcome to MyFico forum

Thanks for sharing and glad it worked out for you. Did you only update the income online or did you call as well ?

Re: Credit Line Decrease

Anonymous — Tue, 15 Mar 2016 09:51:23 GMT

All I did was go online and hit the LUV button and restated my income.. CL was restored instantly.

Re: Credit Line Decrease

Chris679 — Tue, 15 Mar 2016 10:08:37 GMT

FYI my only account closure due to inactivity was Walmart. At the two year mark with no use they CLD me two months in a row and then closed the account the third month.

I was upset at the time and tried to get them to reopen but no dice. Now I don't even miss it, just one less card to worry about keeping open.

Re: Credit Line Decrease

takeshi74 — Tue, 15 Mar 2016 14:06:40 GMT

@Anonymous wrote:
I see a ton of increases from the likes of Cap One, Walmart, and Amazon. Has anyone seen credit line decreases from Synchrony Bank in particular?

Any creditor can CLD or take other AA if risk with one's credit profile and other factors considered exceeds the creditor's risk tolerance. You can't just rely on whether or not other have experienced a CLD to determine if you'd experience one or not.

Re: Credit Line Decrease

Anonymous — Wed, 16 Mar 2016 01:41:56 GMT

@takeshi74 wrote:
@Anonymous wrote:
I see a ton of increases from the likes of Cap One, Walmart, and Amazon. Has anyone seen credit line decreases from Synchrony Bank in particular?
Any creditor can CLD or take other AA if risk with one's credit profile and other factors considered exceeds the creditor's risk tolerance. You can't just rely on whether or not other have experienced a CLD to determine if you'd experience one or not.

I understand the obvious, but my initial post was just seeing other's experience with them concerning decreases. Most people don't come to these boards expecting identical effects with their credit. I see people getting $5000+ on their initial Discover lines, I didn't even expect to get excepted, let alone that kind of starting line. So no , I'm not relying on this. It's just always good to get some idea of what's going on within the credit scenary.