CLD Discover?

[CreditJourney007]

I literally just noticed today that my limit went from $3000 to $500. I'm assuming it's due to Covid 19, and I haven't had a chance to call them, but has this happened to anyone else?

if that's the case, I'm closing the card. I don't need a $500 CL. 

[Jnbmom]

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@CreditJourney007 wrote:

I literally just noticed today that my limit went from $3000 to $500. I'm assuming it's due to Covid 19, and I haven't had a chance to call them, but has this happened to anyone else?

if that's the case, I'm closing the card. I don't need a $500 CL. 

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Seems odd with discover. Have you had any recent changes in your credit profile?

[blindambition]

I haven't seen recent CLD from Discover. Has the card been SD? Any recent dips in score? Cards with high utilization and balance? Sorry to hear! Definitely reach out to them!!

[CreditJourney007]

@Jnbmom nothing, except a fraud alert. Scores have remained 690-700 for the last few months, my utilization is 5% (down from 9%), most recent card IS 3 months old, not sure if that is it...

[CreditJourney007]

@blindambition nope- I use it but it's not my DD. I tried for a CLI about a month ago and was denied becasue of low usage, so I've been using it more, but not excessively. It had a balance of around $500 for a few months, but then I paid it off a few weeks ago when I got my work bonus. No dips in scores - they've been steadily improving, and I dont have any cards above 20% utilization - total util is 5%. 

[Anonymous]

That quick payoff after carrying a balance for awhile is the usual pattern that causes Disco to CLD. They'll increase it over time if you go back to not showing risk but Disco doesn't like to see a balance carried for awhile without much change and then suddenly paid off. 

[Remedios]

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@Anonymous wrote:

That quick payoff after carrying a balance for awhile is the usual pattern that causes Disco to CLD. They'll increase it over time if you go back to not showing risk but Disco doesn't like to see a balance carried for awhile without much change and then suddenly paid off. 

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I've never heard of that, or cards getting closed over $500.00 balance being carried for a couple of months. 

If that balance was carried for a while, I could  see balance chasing, but not over $500.00 for a very short period of time

@CreditJourney007  have you received your AA letter yet? 

I'd look at other changes in your profile, or individual utilization on your other cards. Any negatives that have recently reported or started reporting? 

How old is your card? 

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

That quick payoff after carrying a balance for awhile is the usual pattern that causes Disco to CLD. They'll increase it over time if you go back to not showing risk but Disco doesn't like to see a balance carried for awhile without much change and then suddenly paid off. 

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I've never heard of that, or cards getting closed over $500.00 balance being carried for a couple of months. 

If that balance was carried for a while, I could  see balance chasing, but not over $500.00 for a very short period of time

@CreditJourney007  have you received your AA letter yet? 

I'd look at other changes in your profile, or individual utilization on your other cards. Any negatives that have recently reported or started reporting? 

How old is your card? 

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I mean OP makes it sound like it has been about the same for a few months. Only way that happens is if charges are put on it consistently and the minimum is paid. It's not the amount, it's the behavior that can indicate risk. 

Like put $500 charge on, pay $35 minimum, put $40 on, pay $40, put $45 on, pay $35 minimum. That's what I think of when I hear someone say it's been $500 for a few months. Then you pay it off in full, that says income wasn't stable and that's why the balance was carried. Doesn't matter if it's $500 or $5000, that shows financial stress. 

[CreditJourney007]

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@Remedios wrote:

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@Anonymous wrote:

That quick payoff after carrying a balance for awhile is the usual pattern that causes Disco to CLD. They'll increase it over time if you go back to not showing risk but Disco doesn't like to see a balance carried for awhile without much change and then suddenly paid off. 

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I've never heard of that, or cards getting closed over $500.00 balance being carried for a couple of months. 

If that balance was carried for a while, I could  see balance chasing, but not over $500.00 for a very short period of time

@CreditJourney007  have you received your AA letter yet? 

I'd look at other changes in your profile, or individual utilization on your other cards. Any negatives that have recently reported or started reporting? 

How old is your card? 

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No negatives, individual utilization remains low and I'm acutally on the trajectory to get everything to AZEO. Card is 14 - almost 15 - months old. I did go on a card spree in Dec + Jan and got three new cards and took on a car lease. I have a few baddies (30 day lates) from years ago, way before I got my card though, so nothing "new". Oh, I do have one new inquiry for a CLI from Kohls that was a HP, ugh. They pulled my credit THREE times, so I disputed that, could that have anything to do with that?

The $500 balance was seriously only a few months but I suppose it did differ from my usual PIF behavior. If that is the case, I'm better off closing the card. It's the Chrome and I have better rewards cards like Marvel (3% restaurants) and AMEX EDP which is better gas rewards. 

[elixerin]

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@Anonymous wrote:

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@Remedios wrote:

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@Anonymous wrote:

That quick payoff after carrying a balance for awhile is the usual pattern that causes Disco to CLD. They'll increase it over time if you go back to not showing risk but Disco doesn't like to see a balance carried for awhile without much change and then suddenly paid off. 

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I've never heard of that, or cards getting closed over $500.00 balance being carried for a couple of months. 

If that balance was carried for a while, I could  see balance chasing, but not over $500.00 for a very short period of time

@CreditJourney007  have you received your AA letter yet? 

I'd look at other changes in your profile, or individual utilization on your other cards. Any negatives that have recently reported or started reporting? 

How old is your card? 

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I mean OP makes it sound like it has been about the same for a few months. Only way that happens is if charges are put on it consistently and the minimum is paid. It's not the amount, it's the behavior that can indicate risk. 

Like put $500 charge on, pay $35 minimum, put $40 on, pay $40, put $45 on, pay $35 minimum. That's what I think of when I hear someone say it's been $500 for a few months. Then you pay it off in full, that says income wasn't stable and that's why the balance was carried. Doesn't matter if it's $500 or $5000, that shows financial stress. 

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or taking advantage of 0 intro apr