Asked Discover for cli got a DECREASE!!

[Anonymous]

Had discover card 2 years... its been up to ots limit for about 6 months... 2700 credit line... just paid to zero 8 days ago... i refinanced my truck amd got cash out tp pay off 13k in credit card at 6 percent interest... Has anyone else had this happen ??? My TU right now os 649 and going up... Overall cc debt was 22k with 29k limits.. so itilazation was high overall... shpuld i call ??? This will tank my score at least 20 points when it posts... 610 EX 639 EQ 649 TU... WHAT HAPPENED??? Started woth 800 limit..increase to 1500 then 2700...

[Anonymous]

High utilization for extended periods of time and overall high utilization for extended periods of time result in this behavior depending on the lender.  It's not really a surprise that there was a CLD when you brought attention to yourself by asking for an increase.  

Your score isn't going to "TANK" as you put it.  It will probably stay about the same until you bring the balances down.

[Anonymous]

s a result of a recent review, we have reduced the credit line on your Discover it® card account. Your account remains OPEN and you can charge up to your available credit line. As your situation changes, future account reviews may allow us to reconsider your credit line on this account. We've taken this action for the following reason(s): Number of recent inquiries as reported by agency Bureau reports too many rev accts w/high bal to credit line ratio Bureau reports average age of bank revolving trades too short As a result: Your NEW credit line is $500 of which $70 is available as cash. Should you have any questions regarding the actions taken on your account, our service specialists are available to assist 

[Anonymous]

True..bringing attention to myself... do you think the loan was a red flag? Would calling do any good ???

[Anonymous]

Unfortunately this is the risk with carrying a large balance. You will just have to accept the loss of the limit and move on because they won't reconsider when they take AA. 

[Anonymous]

By having high uti and asking for CLI you triggered an alarm.
Most lenders will not give you any more credit until uti is down to under 30%.
It’s like your friend who owes money but comes asking to borrow more without paying first.

[Creditplz]

I very highly doubt the loan did it.. it’s just your utilization, if you’re using 76% of your total CL, they want to minimize their risk on you.

Wouldn’t be surprised if they balance chase you to $0. Also it’s probably better that the limit went down so you can focus on paying off other debt

[Anonymous]

No, it's all based on the high balances. 

The loan if it brings down the balances could result in being able to get the limit restored once things update.

Calling now won't do much, calling later might do something.

[SoCalifornia]

I wouldn't call, if I were you. You already brought them to the table. I doubt the loan was the issue, as OE explained, it appears to be your high utilization. And to be fair, they are a lender. If they see high utilization what would make them want to increase your limit? Personally, I would take my penance and move onto working on getting those utilz paid down. It would pay off better for you not to seek any increases for a while. 

[M_Smart007]

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@Anonymous wrote:
Had discover card 2 years... its been up to ots limit for about 6 months... 2700 credit line... just paid to zero 8 days ago... i refinanced my truck amd got cash out tp pay off 13k in credit card at 6 percent interest... Has anyone else had this happen ??? My TU right now os 649 and going up... Overall cc debt was 22k with 29k limits.. so itilazation was high overall... shpuld i call ??? This will tank my score at least 20 points when it posts... 610 EX 639 EQ 649 TU... WHAT HAPPENED??? Started woth 800 limit..increase to 1500 then 2700...

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Sorry OP  They call it "Balance Chasing"  ..

pay it down and use it wisely, they will grace you with a CLI after a while.