topic Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help? in Rebuilding Your Credit

Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

Anonymous — Fri, 25 Dec 2020 07:23:25 GMT

Target Store - My Target RedCard Credit Line dropped from $1,700 to $500 in one day and a loss of 40 Credit Points. I always paid on time and in full with them. I had the account for 2 years. Anyone else with the same problem and do you have any tips it get them to increase it back?

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

jmw1 — Fri, 25 Dec 2020 07:54:43 GMT

Are you paying in full with everyone else? It's very possible to get CLD due to problems with other lenders. If you have utilization issues, you need to be paying down your debt as quickly as possible before other lenders get spooked. It doesn't take much time for other lenders to notice and take action as well.

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

FinStar — Fri, 25 Dec 2020 16:45:22 GMT

@Anonymous, as mentioned above, there are other factors at work that would've caused TD Bank to take such Adverse Action. This could be increased or prolonged utilization with your other cards, your scores taking a tumble, etc. Unfortunately, they won't be able to reinstate the CL. It'll have to increase on its own as your profile improves over time.

Besides the recent score drop, what else is holding your scores down?

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

OmarGB9 — Sat, 26 Dec 2020 04:23:10 GMT

Sorry that happened, but we're going to need more details to be able to begin to help you. How does the rest of your file look like? Are all your other accounts paid in full and on time every month (or at least the minimum every month, but on time)? Any collections or charge offs?

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

Brian_Earl_Spilner — Sat, 26 Dec 2020 04:47:14 GMT

Did you bounce a payment or use the wrong bank?

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

Anonymous — Sat, 26 Dec 2020 10:26:21 GMT

They should have sent you an email telling you why. Comenity bank dropped three of my cards limits last year due to my UTIL being high on other creditors.

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

Anonymous — Sat, 26 Dec 2020 11:00:16 GMT

TARGET CC -

0 - Degrogitories / Negative Reports
3 - Inquiry's
Always paid on time
Always paid in full every month
2 years Credit experience - 14 credit cards total.

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

OmarGB9 — Sat, 26 Dec 2020 19:13:48 GMT

Have you pulled a recent 3 bureau report from annualcreditreport.com (free weekly until 4/2021) just to be sure everything is reporting accurately and there are no surprise collections or something?

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

collics — Sat, 26 Dec 2020 19:32:09 GMT

So sorry to hear that OP.

My limit has been maxed on my target card for like 4 years and have missed pmts in that time also but they never decreased the limit.

Please give them a call to see why they made that decision.

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

FinStar — Sat, 26 Dec 2020 19:51:10 GMT

@Anonymous wrote:
TARGET CC -

0 - Degrogitories / Negative Reports
3 - Inquiry's
Always paid on time
Always paid in full every month
2 years Credit experience - 14 credit cards total.

Unfortunately, this doesn't provide a full picture of things. Any creditor doesn't perform AA without a reason - aside from a CLD due to inactivity.

As suggested upthread, obtain your CRs and go through them to determine if there's something unexpected. If you have any high utilization across the board (aside from Target), that could be another factor.

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

jmw1 — Sat, 26 Dec 2020 23:32:51 GMT

@Anonymous wrote:
TARGET CC -

0 - Degrogitories / Negative Reports
3 - Inquiry's
Always paid on time
Always paid in full every month
2 years Credit experience - 14 credit cards total.

Pay in full on ALL 14 cards?

Re: Target - My CL dropped $1,700 to $500 & - 40 Credit Points - Help?

WavysMommy — Sun, 27 Dec 2020 13:08:11 GMT

@Anonymous wrote:
Target Store - My Target RedCard Credit Line dropped from $1,700 to $500 in one day and a loss of 40 Credit Points. I always paid on time and in full with them. I had the account for 2 years. Anyone else with the same problem and do you have any tips it get them to increase it back?

Just with them? Score drops and CLDs like that make me think there was a significant increase in spend on one or more cards. What was your overall utilization amongst all 14 cards before the change? And are all of these cards acquired within the last 2 years? How many cards have you acquired in the last 12 months? Credit seeking behavior and increased spend can cause CLD decreases. They're thinking the increased spend and behavior makes you risky.

Just a guess.