CLD again - US Bank

[Anonymous]

@racer-x,

I'd go with option 3.  Others are at 25%-35% Utilization.  If these CC can't handle that at that percentage, how do they expect to make their money?  I am for option 3.

[Anonymous]

My vote is enjoy your saturday night rather than streesing out about finances. 

Then #4

If no dice, then #3

[gmason]

It sounds to me like you've already taken the right steps to get the credit report in order. If I was in your position, I'd probably pay the LOC down slightly below 80% before it reports at the end of the month. I'd then hold my cash for a few weeks while everything reports. I'd just be curious to see if US Bank would balance chase.

You can call US Bank or just wait and see if they balance chase you after you've paid below 80%. But if you hold your cash in reserve, you can choose the best course of action in a few weeks after you determine what US Bank does. I honestly don't see a reason to pay down accounts that are sitting well under 50% utilization. I might try and make sure everything other than the LOC gets slightly below 30%, but you probably just need to let the credit report stabilize and be consistent on the paydown (e.g., send 5 X the minimum payment once per month -- or something like that).

[Imperfectfuture]

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@Anonymous wrote:

My vote is enjoy your saturday night rather than streesing out about finances. 

Then #4

If no dice, then #3

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Concur.  If you haven't seen it, the interview is now on netflix. I haven't seen it, and didn't want to pay for it.

[racer-x]

Thanks people. 

I am obsessing a bit for sure.  Checked all my accts as soon as I got up this morning. lol

I keep seeing how the PIF payment I made to Discover on the 13th and how it was placed on an '8 day security hold', which in turn caused the CLD and 95% utilization to be reported to the CRA's on the 20th.  I mean really??!!  I missed the cut by 1 day?  Who has an '8 day' hold anyway.  I truly believe they did that on purpose to show other lenders that they consider me a risk.  That in itself may have caused US Bank to do what they did.  Chase, thankfully I guess, reported my PIF $0 balances immediately to the CRA's when they got the payment instead of waiing for statements to cut..  Kiinda strange really.  Maybe they were extending a 'courtesy'. lol

So that in itself freaking killed me this month.  I'm basically having to wait 5 wks for the $0 balance on Discover to report.  That means I have 5 wks of creditors seeing that 95% utilization plus US Bank showing 97% utilization on the LOC that will report in a few days.

I feel I've tried my best to stop all this nonsense. 

[racer-x]

Sooooo, I just talked to the 12th person at US Bank, a supervisor in UW with PLOC.

They could do nothing but do a HP and do a manual review.  They told me that it was a system CLD but they also look at the 'big picture.'

I begged, pleaded for a SP, but no go.  I'm concerned about the Discover $4500 balance with a $12,900 limit  still showing on TU, which is who they are pulling.  I have a $0 balance.

Apparently Discover doesn't update to the CRA's til the 4th?  I read that somewhere on here yesterday.

I told the lady I can send proof of the DISCOVER balance being PIF, she said sorry, we only look at what's on the report and don't accept outside proof or information.  Whatever.

I also said what if I paid on the PLOC right now, would I continue to get CLD'd?  She said she couldn't guarantee that I wouldn't.

But in the next breath, she said if I was granted the CLI, she could put a stop on any action taken automatically by the system?  Sounds like she wanted me to pay it down and let the system CLD me?  IDK.

Now I'm taking a HP with an account at 97.1%.  If that doesn't spook every creditor I have, nothing will.

If they can't raise my CLI after a manual review, I'm shutting down US Bank.  I'm taking my $12k and my $90k direct deposit to my CU that I have 2 installment loans with and partial direct deposti, and a $3500 visa at 8%. ($0 balance of course)

To recap:

Total CL - $150k

$100k income

22 revolvers, 6 reporting balances , 18% utilization total. - Could be only 4 reporting balances once I find out what US Bank does with my CLI.

1 paid baddie 4yrs ago on TU only - $165 electric bill that I had in my name for my sister - I forgot about that.....aaarghhh.

Other reports squeaky clean.

No mortgage

2 car loans at CU - $22k total

1 Harley Davidson loan - $10k

AAoA- 2yrs

[Anonymous]

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@racer-x wrote:

Sooooo, I just talked to the 12th person at US Bank, a supervisor in UW with PLOC.

They could do nothing but do a HP and do a manual review.  They told me that it was a system CLD but they also look at the 'big picture.'

I begged, pleaded for a SP, but no go.  I'm concerned about the Discover $4500 balance with a $12,900 limit  still showing on TU, which is who they are pulling.  I have a $0 balance.

Apparently Discover doesn't update to the CRA's til the 4th?  I read that somewhere on here yesterday.

I told the lady I can send proof of the DISCOVER balance being PIF, she said sorry, we only look at what's on the report and don't accept outside proof or information.  Whatever.

I also said what if I paid on the PLOC right now, would I continue to get CLD'd?  She said she couldn't guarantee that I wouldn't.

But in the next breath, she said if I was granted the CLI, she could put a stop on any action taken automatically by the system?  Sounds like she wanted me to pay it down and let the system CLD me?  IDK.

Now I'm taking a HP with an account at 97.1%.  If that doesn't spook every creditor I have, nothing will.

If they can't raise my CLI after a manual review, I'm shutting down US Bank.  I'm taking my $12k and my $90k direct deposit to my CU that I have 2 installment loans with and partial direct deposti, and a $3500 visa at 8%. ($0 balance of course)

To recap:

Total CL - $150k

$100k income

22 revolvers, 6 reporting balances , 18% utilization total. - Could be only 4 reporting balances once I find out what US Bank does with my CLI.

1 paid baddie 4yrs ago on TU only - $165 electric bill that I had in my name for my sister - I forgot about that.....aaarghhh.

Other reports squeaky clean.

No mortgage

2 car loans at CU - $22k total

1 Harley Davidson loan - $10k

AAoA- 2yrs

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Where to start? Seems US Bank has some hang up with their US Bank Premier Plus Lines of Credit. Their computer told me I had too much charged against it $5,000 against $8,000 at the time. Rearranged some credit lines and paid the PLOC off. The US Bank Credit Cards and PLOC are all run throught he credit card division while the US Bank Reserve Lines are run through the bank. Last Thursday I requested to close a credit card account and redistribute the credit line and US Bank U/W wanted a complete manual review and HP in the credit bureaus, I kept my cool and thanked them (did not take any action). Every time I have contacted U/W related to the PLOC it has been a negative. As to credit card CLIs received two ... go figure! What is their problem? Maybe you have spilled over to my situation Not funny I know. What to do? Considering closing six accounts loosing $30K in credit to improve that part of my credit profile ... will it really help? Another quandry.

[racer-x]

Right on Army.  IDK either.  I'll know what to do when they call me back.

I really like(d) the PLOC.  It was on my online accts page, it was easy to move money around, dip into it, pay it back instantly, 12.99 rate I believe...It was like having $15k cash sitting there for you.

BTW, at lst the lady said it would take 24-48 hrs to get a decision....after asking who do I call, when do I call to find out....she asked for my number and she will call me back by the end of the day.  At least if SHE calls me back and not someone else, I won't have to plead my case to the 13th person.

If no CLI, I'm PIF'ing the account.  Case closed.  I'm not gonna risk paying the account down then get another CLD on it.  I'll flip my lid.

[Anonymous]

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@racer-x wrote:

Right on Army.  IDK either.  I'll know what to do when they call me back.

I really like(d) the PLOC.  It was on my online accts page, it was easy to move money around, dip into it, pay it back instantly, 12.99 rate I believe...It was like having $15k cash sitting there for you.

BTW, at lst the lady said it would take 24-48 hrs to get a decision....after asking who do I call, when do I call to find out....she asked for my number and she will call me back by the end of the day.  At least if SHE calls me back and not someone else, I won't have to plead my case to the 13th person.

If no CLI, I'm PIF'ing the account.  Case closed.  I'm not gonna risk paying the account down then get another CLD on it.  I'll flip my lid.

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racer-x the US Bank Premier Plus Line of Credit maxes out at $15K. Not sure if you knew that. If you need more they want to move you into a US Bank Home Equity Line of Credit for 3.99% today (012615). The HELOC starts at $15K and goes up from there but, they operate at 80% of the home value after using their formula. Back in the good ole 2007's there used to be 100% and 90% of home value but I can't find a legitmate source for those rates today. US Bank has tried to work it for me but, the home values in my area have remained flat for over six years so only paying down on the mortgage would get me to the 80% mark. Best of luck on your challenge. Now that I have called attention to myself by wanting to close an account it will be good for me to pay down on my debt just incase US Bank and Citi decide my risk is too much.

[racer-x]

Army - My starting PLOC was $15k, they CLD to $8300.

I don't want or need more than $15k, I just want some of the CL back so I'm not at 97.1% utilization on the card when it reports at the end of the month.

I don't own a home, so that's a non issue.