@Janneman wrote:Synchrony decreased CL on my only account with them today, from $15k to $1k....What do you guys think could be done? Should I close the account as its the lowest limit I have in last 25 years and on any of my credit cards? Or do you think there might be an option to get CLI, if there any? Thank you
might be able to request a CLI to bring it back to where it was
this might be their way of telling you to spend more on the card
took some google-fu, but I found this thread:
https://ficoforums.myfico.com/t5/Credit-Cards/I-Finally-Got-AA-From-Synchrony/td-p/6653227
Sync will do decreases for lack of use. I opened a Care Credit years ago when my dog needed surgery to leverage the 6 months no interest. Was given a $4500 SL (which was just over the cost of the surgery). Requested a CLI to keep from getting dinged for almost 100% utilization, and got 25k. Used the 6 months and paid it off, and haven't used it since. Last year, they dropped it from 25k to 6k. I used it to buy some meds to keep it active, but otherwise don't use it. I keep it around in case I ever need to leverage one of the no interest offers for anything, but not worried about the limit. If I ever need a high limit on it again, I'll request it.
@Janneman wrote:Synchrony decreased CL on my only account with them today, from $15k to $1k....What do you guys think could be done? Should I close the account as its the lowest limit I have in last 25 years and on any of my credit cards? Or do you think there might be an option to get CLI, if there any? Thank you
@Janneman wrote:Synchrony decreased CL on my only account with them today, from $15k to $1k....What do you guys think could be done? Should I close the account as its the lowest limit I have in last 25 years and on any of my credit cards? Or do you think there might be an option to get CLI, if there any? Thank you
Close it.
My Nordstrom store tradeline was my oldest at 28yrs old when I closed it after they reduced the limit from 4,000 to 1,000, shortly after they gave me an increase. I hadn't used that card in years.
@Janneman wrote:Synchrony decreased CL on my only account with them today, from $15k to $1k....What do you guys think could be done? Should I close the account as its the lowest limit I have in last 25 years and on any of my credit cards? Or do you think there might be an option to get CLI, if there any? Thank you
If you call them up they'll almost definitely restore it.
@Janneman wrote:
@Gunnerboy wrote:
@Janneman wrote:Synchrony decreased CL on my only account with them today, from $15k to $1k....What do you guys think could be done? Should I close the account as its the lowest limit I have in last 25 years and on any of my credit cards? Or do you think there might be an option to get CLI, if there any? Thank you
Close it.
My Nordstrom store tradeline was my oldest at 28yrs old when I closed it after they reduced the limit from 4,000 to 1,000, shortly after they gave me an increase. I hadn't used that card in years.
Since you closed your account, then how they increased the limit on it? It was closed, right?
TD Bank gave me a bump from 3k to 4k, but when I didn't put any new spend the following two weeks, they chopped it down to 1k. I closed it right then.