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BML Credit Line Decrease?

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chan85
Established Contributor

BML Credit Line Decrease?

I'm still new to my BML account, but I had a credit line of about $2200, made a large payment of about $800 because my promo offers were about to expire on some purchases I made. I logged in and it now says my CL is like maybe $200 above my CL now!?

 

Do they always decrease it when you pay it down???

Current Debt Management:
$15k Trinity Financial Management (scheduled pay off late 2021)
$10k NFCU
$350/mth Bridgecrest Auto Loan
Goals: Pay off credit card debt & buy a new home before end of 2020

Long Term Debt:
Fed Loans - $150k
Navient - $100k

Taking a "if God don't do it, it won't get done..." approach to paying these off.
Message 1 of 13
12 REPLIES 12
webhopper
Moderator Emeritus

Re: BML Credit Line Decrease?

I had an experience where I paid off a promo balance prior to the expiration of the promo, and GE completely closed my Lowes account...

 

Since then, I take GE with a grain of salt... i prefer to use other cards and ignore them

FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 2 of 13
Wolf3
Senior Contributor

Re: BML Credit Line Decrease?


@chan85 wrote:

I'm still new to my BML account, but I had a credit line of about $2200, made a large payment of about $800 because my promo offers were about to expire on some purchases I made. I logged in and it now says my CL is like maybe $200 above my CL now!?

 

Do they always decrease it when you pay it down???


Are you confusing CL with available credit?  How is $200 above a decrease?

 

They have never decreased in my DW case, and she has had a lot of promo deals.

 

Message 3 of 13
Creditaddict
Legendary Contributor

Re: BML Credit Line Decrease?

You are talking about "Bill Me Later" right?

That is with Web Bank if Im not mistaken.

 

I believe they say your CL can move up and down with purchases so maybe the system if putting it back down but if you try to purchase it will go up?  that doesn't really make all that much sense to me but it doesn't report o credit report so probably doesn't matter to much as long as it does approve the purchases!

 

Message 4 of 13
chan85
Established Contributor

Re: BML Credit Line Decrease?


@webhopper wrote:

I had an experience where I paid off a promo balance prior to the expiration of the promo, and GE completely closed my Lowes account...

 

Since then, I take GE with a grain of salt... i prefer to use other cards and ignore them


I don't think Bill Me Later is GE is it? I mean, I have been making purchases with it since then, on ebay and usps, but I just happened to log in and see the available credit line was much lower.

Current Debt Management:
$15k Trinity Financial Management (scheduled pay off late 2021)
$10k NFCU
$350/mth Bridgecrest Auto Loan
Goals: Pay off credit card debt & buy a new home before end of 2020

Long Term Debt:
Fed Loans - $150k
Navient - $100k

Taking a "if God don't do it, it won't get done..." approach to paying these off.
Message 5 of 13
chan85
Established Contributor

Re: BML Credit Line Decrease?


@Wolf3 wrote:

@chan85 wrote:

I'm still new to my BML account, but I had a credit line of about $2200, made a large payment of about $800 because my promo offers were about to expire on some purchases I made. I logged in and it now says my CL is like maybe $200 above my CL now!?

 

Do they always decrease it when you pay it down???


Are you confusing CL with available credit?  How is $200 above a decrease?

 

They have never decreased in my DW case, and she has had a lot of promo deals.

 


Hmm maybe.... When I first opened the account my spending ability was like $700. I tried to make a purchase at some point that went over that and it declined me. But a few days later they sent an email saying I had received an increase to like $2200. I used it to book travel and some shopping on ebay and had almost maxed it out, was at around $1900 last statement. My promo offers were scheduled to expire Jan 3, so end of Dec, I paid off a chunk, leaving my balance at around $1200. In my head I thought I would have that gap between the $1200 and $2200 available still. I have made several purchases since then, nothing has been declined, but when I log in it says "available credit at least $141".
Now considering I have about $500 in pending transactions, maybe that has something to do with it, and I still have most of my $2200 credit line, I just have used it up lol Smiley Very Happy
Current Debt Management:
$15k Trinity Financial Management (scheduled pay off late 2021)
$10k NFCU
$350/mth Bridgecrest Auto Loan
Goals: Pay off credit card debt & buy a new home before end of 2020

Long Term Debt:
Fed Loans - $150k
Navient - $100k

Taking a "if God don't do it, it won't get done..." approach to paying these off.
Message 6 of 13
chan85
Established Contributor

Re: BML Credit Line Decrease?


@Creditaddict wrote:

You are talking about "Bill Me Later" right?

That is with Web Bank if Im not mistaken.

 

I believe they say your CL can move up and down with purchases so maybe the system if putting it back down but if you try to purchase it will go up?  that doesn't really make all that much sense to me but it doesn't report o credit report so probably doesn't matter to much as long as it does approve the purchases!

 


It is a Bill Me Later.

 

Yeah that makes sense. I think it was a panic that they had decreased my credit line, kinda like a normal credit card. Which has never happened to me, so I freaked just a lil lol

Current Debt Management:
$15k Trinity Financial Management (scheduled pay off late 2021)
$10k NFCU
$350/mth Bridgecrest Auto Loan
Goals: Pay off credit card debt & buy a new home before end of 2020

Long Term Debt:
Fed Loans - $150k
Navient - $100k

Taking a "if God don't do it, it won't get done..." approach to paying these off.
Message 7 of 13
jsickz32
Valued Contributor

Re: BML Credit Line Decrease?

the whole no payments during the promo period is weird.

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 8 of 13
chan85
Established Contributor

Re: BML Credit Line Decrease?

Ummm somebody correct me if I'm wrong but you still have to make payments........ I think they word it that way because Interest isn't accruing for the promo period, and as long as you pay it off befre the promos over no interest is added to the amount due.
Current Debt Management:
$15k Trinity Financial Management (scheduled pay off late 2021)
$10k NFCU
$350/mth Bridgecrest Auto Loan
Goals: Pay off credit card debt & buy a new home before end of 2020

Long Term Debt:
Fed Loans - $150k
Navient - $100k

Taking a "if God don't do it, it won't get done..." approach to paying these off.
Message 9 of 13
jsickz32
Valued Contributor

Re: BML Credit Line Decrease?

ive used mine couple of time and ive never received a due date or minimun  payment.

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 10 of 13
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