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Balance chasing question

Momagain
New Contributor

Balance chasing question

I just PIF my Citi Costco Anywhere Visa ($5000) and my Discover IT card ($2300).  IF they are going to balance chase me, any idea how soon that would begin?  They have  been at or really close to their limits for over a year, so I am worried that they will.  Just trying to prepare myself for what may come.



Message 1 of 5
4 REPLIES 4
Remedios
Moderator

Re: Balance chasing question

Since you paid your cards off you cannot be balanced chased anymore.

If you are asking about CLD due to prolong balance carrying, that can happen immediately upon payoff, later in the cycle, or never. 

 

Let's hope it's never

Message 2 of 5
Momagain
New Contributor

Re: Balance chasing question

NEVER works for me!  Thank you, Remedios, for understanding the question even though it was poorly asked.  Trying to decide whether I need to make on small purchase and PIF or just not touch them for a couple of months.



Message 3 of 5
Remedios
Moderator

Re: Balance chasing question

I'd leave them alone for a month so you can get rid of trailing interest without incurring more and to re-establish grace period. 

It will also  show in round about ways you're not trying to run them up again. 

If there is no CLD (fingers crossed), make sure you pay in full both of these cards for a considerable future. 

 

Message 4 of 5
Anonymous
Not applicable

Re: Balance chasing question

There's no way to know when a CLD could occur if they decide to do it.  Depends on how their systems are set up, and if the CLD is already pending in the system, it could happen as soon as the payment posts, or a few days or weeks later.

 

Balance chasing happens when they want to CLD you to an amount less than your balance.  They just put the new desired target limit in.  If your balance is low enough that it will fit within the new limit, it will just CLD once to the new limit.  If your balance is higher, the limit will drop automatically as your balance drops, until it eventually reaches the new "target" limit, presumably handled automatically by the software, but maybe it's done manually at some banks.

 

Message 5 of 5
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