topic Cabela's Lowering Limit(s) in Credit Cards

Cabela's Lowering Limit(s)

Espresso — Tue, 19 Apr 2016 02:43:00 GMT

I pay for my monthly EQ Fico here at MyFico. I am sitting at 642 with 30K+ in cards, < 20% util.

I got a $1500 Cabelas's WF Visa 4 months ago and have run 3-4K through it PIF.

Today I got a notice my limit was reduced to $500 becaue my EQ has dropped to 600 (?!).

I call in and they say yeah, we reduced it. Get it back up to 640 and we may raise it.

1. My EQ has not dropped.

2. Anyone else getting reductions from Cabela's WF?

Re: Cabela's Lowering Limit(s)

lakelife16 — Tue, 19 Apr 2016 03:17:55 GMT

I'm sorry that happened to you. I just applied with Cabela's last week and am waiting for my card...your post will keep me on the lookout for any potential issues. If it were me, I would call back tomorrow and speak to a supervisor and tell them on your end, you don't see a score drop, how did they compute this new score number? Is it an internal computation? Tell them you've been a responsible card holder since you've received the card and have a perfect payment history. I don't know if they "reconsider" at all but just try. I know I've read on here that World's Foremost Bank does monthly SP's on their cardholders so it seems they monitor pretty closely. Good luck!

Re: Cabela's Lowering Limit(s)

Espresso — Tue, 19 Apr 2016 03:47:53 GMT

I did try that with a non-supervisor. He just deferred to "call EQ and get your score."

Very frustrating. I have no new baddies or crazy ballances.

Re: Cabela's Lowering Limit(s)

NRB525 — Tue, 19 Apr 2016 03:58:09 GMT

@Espresso wrote:
I did try that with a non-supervisor. He just deferred to "call EQ and get your score."

Very frustrating. I have no new baddies or crazy ballances.

Sorry to hear, but if the CCC says your score dropped to a lower amount, might want to check it out?

Do you have old baddies? That might cause wierd score changes if there's some sort of update of an old collection, refreshing it to look like it is more recent. Not fair, to be sure, but it might happen.

Re: Cabela's Lowering Limit(s)

Anonymous — Tue, 19 Apr 2016 03:58:39 GMT

I'd pull your score and report directly from EQ if I were you. Something isn't right and needs to be straightened out. Sorry this happened.

Re: Cabela's Lowering Limit(s)

lakelife16 — Tue, 19 Apr 2016 04:18:40 GMT

I can imagine. It seems lately that some of these banks are taking unreasonable approaches to risk mitigation policies. I understand it's their right to manage their accounts however they like but when you penalize cardholders who have a perfect history with you and have done more than what's expected, that seems unfair. Reminds me of Comenity!

Re: Cabela's Lowering Limit(s)

Anonymous — Tue, 19 Apr 2016 04:53:39 GMT

40 points is a huge drop. I'd recommend to check it out ASAP before any other lenders become concerned.

Re: Cabela's Lowering Limit(s)

Anonymous — Tue, 19 Apr 2016 05:29:19 GMT

Are you sure Cabela's is using the same score model as you get here?

Re: Cabela's Lowering Limit(s)

Espresso — Tue, 19 Apr 2016 19:01:31 GMT

@Anonymous wrote:
Are you sure Cabela's is using the same score model as you get here?

Good question. They are using whatever EQ is providing them. I will get letter from Cab. next week letting me know of my decrease and the EQ score they are using.

Thing is, NOTHING has changed on my report. No baddies and no crazy util.

Re: Cabela's Lowering Limit(s)

Espresso — Tue, 19 Apr 2016 19:03:17 GMT

@lakelife16 wrote:
I can imagine. It seems lately that some of these banks are taking unreasonable approaches to risk mitigation policies. I understand it's their right to manage their accounts however they like but when you penalize cardholders who have a perfect history with you and have done more than what's expected, that seems unfair. Reminds me of Comenity!

Yeah, that's why I came here and posted. I am wondering if Cab./WF are having a lot of charge offs and are changing their metrics.

Re: Cabela's Lowering Limit(s)

Anonymous — Thu, 02 Jun 2016 18:16:34 GMT

Mine was decreased from $700 to $500 a few days ago as well. No change on my credit reports. So I'm transferring the $300 I had with them to another card. I'll just SD the Cabelas Visa.

Re: Cabela's Lowering Limit(s)

Anonymous — Thu, 02 Jun 2016 18:31:37 GMT

@Espresso wrote:
I pay for my monthly EQ Fico here at MyFico. I am sitting at 642 with 30K+ in cards, < 20% util.

I got a $1500 Cabelas's WF Visa 4 months ago and have run 3-4K through it PIF.

Today I got a notice my limit was reduced to $500 becaue my EQ has dropped to 600 (?!).

I call in and they say yeah, we reduced it. Get it back up to 640 and we may raise it.

1. My EQ has not dropped.
2. Anyone else getting reductions from Cabela's WF?

This is interesting. I was approved a couple weeks ago for $1500 and my score dropped to 640 due to all the new inquiries. When Cabelas reported to the CB's a week later my score was 660 and they reported a limit of $1000. I was very disappointed but what can I do. I am just happy to be headed in the right direction.

Re: Cabela's Lowering Limit(s)

RonM21 — Sun, 05 Jun 2016 15:00:57 GMT

Heading in the right direction is good. Don't let any little hiccups that get in your way.stop that progress!

Re: Cabela's Lowering Limit(s)

missy42 — Wed, 06 Jul 2016 19:30:26 GMT

My limit was dropped as well, nothing major happened score remains the same which is 639 EQ due to inquires for new 2013 Cadillac SRX I purchased in April. I just think they must have a lot of charge offs so to the SD they go as I don't use them that much anyway. Glad I was not planning on using that credit line, which went from $3000 to $2100. Just PIF no more charging from Cabelas.

Re: Cabela's Lowering Limit(s)

CreditMagic7 — Wed, 06 Jul 2016 19:32:26 GMT

Call it superstition on my part or just some gut feeling but something about this card group never seemed to get off the ground or fit right for me. I was approved for a $3K limit but after 6 months and with publicity swirling around about a Cabela's takeover i went proactive and closed it out no worse for wear.

Glad i followed my instincts on this one too.

Re: Cabela's Lowering Limit(s)

Anonymous — Wed, 06 Jul 2016 20:24:06 GMT

@CreditMagic7 wrote:
Call it superstition on my part or just some gut feeling but something about this card group never seemed to get off the ground or fit right for me. I was approved for a $3K limit but after 6 months and with publicity swirling around about a Cabela's takeover i went proactive and closed it out no worse for wear.

Glad i followed my instincts on this one too.

You and me both, CM7. We both closed our Cabela's cards a few months ago and your action was the catalyst for helping me to realize that I did not need this card. Mine was 4k and not a card that added anything to my profile. Thank you!

Re: Cabela's Lowering Limit(s)

DrZoidberg — Wed, 06 Jul 2016 20:50:37 GMT

Not me. Still showing $22k from 3 months ago when I purchased my rifle.

Re: Cabela's Lowering Limit(s)

Royalbacon — Wed, 06 Jul 2016 20:59:13 GMT

Mines still at $1000 and I got a balance of about $160 on mine currently.

Re: Cabela's Lowering Limit(s)

CreditMagic7 — Wed, 06 Jul 2016 21:01:45 GMT

@DrZoidberg wrote:
Not me. Still showing $22k from 3 months ago when I purchased my rifle.

More power to ya DrZoidberg

Sporting a respectable enough profile as yours they better had offered you something more than their usual cookie crumbs

Re: Cabela's Lowering Limit(s)

Creditplz — Wed, 06 Jul 2016 22:26:50 GMT

I've had my cabelas 4 months and still have a 4.5k limit.. Score dropped 20 pts one month then raised 27 the next , but their customer service is tough.. They once denied me for the card because they thought I was not me :/