topic Re: Macy CLI after CL decrease? in Credit Cards

Macy CLI after CL decrease?

Anonymous — Thu, 01 Oct 2009 23:03:34 GMT

I had a missed payment a while back which Macy didn't report but they automatically (they told me it was autmated) decreased my CL from $5000 to $1000. They told me that I have to wait 6 months before I can ask for a CLI. Is this what I should do? Wait 6 months? And after 6 months should I ask for my $5000CL back?

Re: Macy CLI after CL decrease?

score_building — Fri, 02 Oct 2009 00:36:01 GMT

Goosey wrote:
I had a missed payment a while back which Macy didn't report but they automatically (they told me it was autmated) decreased my CL from $5000 to $1000. They told me that I have to wait 6 months before I can ask for a CLI. Is this what I should do? Wait 6 months? And after 6 months should I ask for my $5000CL back?

you could call back one or more times to try again. it couldn't really hurt with macy's and you may convince them. if it is a no go, maybe wait 1-3 mos. still no? then by 6 mos. and with a decent purchase and credit profile you could be a shoe in for a restoring+ CLI.

in any case, macy's has been known to sometimes turn the other cheek even after things head south, ultimately with good behaviour you'll regrow the CL whether now or in a few mos.

Re: Macy CLI after CL decrease?

Anonymous — Fri, 02 Oct 2009 02:00:33 GMT

The CLD is definitely automated.

How late were you?

Re: Macy CLI after CL decrease?

Anonymous — Fri, 02 Oct 2009 12:13:52 GMT

You know, Goosey, my experience with Macys is they will remove that missed payment (30-day late)? if you ask them and if you otherwise have a clean record with them. I had a 30-day late, back in 2003 - I think. I sent them a letter profusely apologizing, etc., and they removed the 30-day late.

On this forum, I have recently been reading some posts that suggests Macys is no longer giving CLI every 3 months. Not sure I buy that. My most recent Macys CLI was August. The one before that was May, and I plan on asking for another one in November. Every 3 months.

So, if I were you - I would first send them a GW letter - try to get that baddie removed.

Re: Macy CLI after CL decrease?

Anonymous — Fri, 02 Oct 2009 17:46:18 GMT

Macy was actually nice enough to not report the late payment. But they did give me an automated CLD from $5000 to $1000CL. I'm just wondering how to approach Macy for a CLI. Should I wait a bit? And when I do ask for a CLI should I ask for my $5000 back or start with something smaller like $3000?

Re: Macy CLI after CL decrease?

Anonymous — Fri, 02 Oct 2009 18:12:27 GMT

Goosey wrote:
Macy was actually nice enough to not report the late payment. But they did give me an automated CLD from $5000 to $1000CL. I'm just wondering how to approach Macy for a CLI. Should I wait a bit? And when I do ask for a CLI should I ask for my $5000 back or start with something smaller like $3000?

You can ask for whatever you want whenever you want if you are willing to accept a hard INQ and potentially receive "NO" for an answer. If you want to tread a safer path you will call in no earlier than three month after your GLD, ask them for whatever GLI you might be able to get without a hard INQ and graciously accept what is offered. If the answer is nothing you repeat the process at three month intervals until you get an increase.

Re: Macy CLI after CL decrease?

score_building — Fri, 02 Oct 2009 20:04:20 GMT

Goosey wrote:
Macy was actually nice enough to not report the late payment. But they did give me an automated CLD from $5000 to $1000CL. I'm just wondering how to approach Macy for a CLI. Should I wait a bit? And when I do ask for a CLI should I ask for my $5000 back or start with something smaller like $3000?
as PP you can call now and try to negotiate a restoral, say you'd like your full line restored if possible make sure you request no hard pull. be super nice and you may want to include a couple of tid bits of why you are and will continue to be a good customer. this may not be worth it if you have a marginal history in which case you could wait the 3 months and try then.

if you have strong history besides the one late you may have a shot, but they've tightened recently, YMMV. it shouldn't hurt to ask unless you have marginal history that doesn't meet their requirements. others have reported full restorals when calling right after a decrease, AND 1-3 months after a decrease, some with reportedly poor records for the most part have not been so lucky.

Re: Macy CLI after CL decrease?

dfitzg — Mon, 05 Oct 2009 00:35:16 GMT

same thing happened to me exactly six months ago i submitted payment on the due day and it posted the day after.

should i call and try to get it restored. and what number should i call?

Re: Macy CLI after CL decrease?

dfitzg — Mon, 05 Oct 2009 01:40:59 GMT

anybody ?

Re: Macy CLI after CL decrease?

Anonymous — Mon, 05 Oct 2009 03:04:31 GMT

Why not! It's always worth a try.

Re: Macy CLI after CL decrease?

dfitzg — Mon, 05 Oct 2009 05:11:56 GMT

@Anonymous wrote:
Why not! It's always worth a try.

i guess ill call tomorrow then see what happens

Re: Macy CLI after CL decrease?

Anonymous — Mon, 05 Oct 2009 22:56:07 GMT

How did it go dfitzg?