Credit line decrease by $9k!

[Anonymous]

So Ive had my walmart store card since 2013. Its my oldest acct. Meant to use it last month but forgot. It was 12 months dormant.

Now im upset. Should I close? I never use it but I had a $10k limit. Now its $1k. **bleep**

[redpat]

Close it.  You didn't need it for 12 months so the hell with it, the damage is already done if you want to keep it for 1k instead of 10k.

Or call to get it restored if it's that important. 

IMO, dump it.

[Anonymous]

Welp!

Lesson learned! Gotta use my card every 12 months or that crap will happen.

I just closed the account. Didnt even have to speak to a person. lol

What a joke. Guess time to replace the card. My Sallie Mae will be closed soon too. That means my credit profile will decrease by $17.5k!!!

[dragontears]

Why is it a joke?

[Anonymous]

If you didn't use it for 12m, then you probably weren't going to use it anytime soon or aren't going to miss it at this point. One less card to worry about now!

[Anonymous]

Sorry this happened, OP. Six or seven myfico members have reported fairly large Synchrony CLD's in recent months on their Synchrony Visas and Mastercards after as little as 4 or 5 months of non-use. It seems difficult to tell exactly what the threshold is with Synchrony.

I use each of my Synchrony cards once per month for a very small purchase as they have been acting a little weird lately.

[Revelate]

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@Anonymous wrote:

Welp!

Lesson learned! Gotta use my card every 12 months or that crap will happen.

I just closed the account. Didnt even have to speak to a person. lol

What a joke. Guess time to replace the card. My Sallie Mae will be closed soon too. That means my credit profile will decrease by $17.5k!!!

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Which really means what rationally on tradelines you aren't using?

A 1K card that you never use other than as a tradeline farm is every bit as good as a 10K card unless you're in the habit of deficit spending and even then I'd suggest the additional 9K vs your other lines isn't much.

Personally I'd view this as a favorable outcome but I'm already reducing CL's on better tradelines than a Wally card, which is kind of junk to begin with other than their CLI policy and their freebie FICO score which can be gotten on a number of better tradelines now anyway.

[grillandwinemaster]

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Revelate wrote:

Which really means what rationally on tradelines you aren't using?

A 1K card that you never use other than as a tradeline farm is every bit as good as a 10K card unless you're in the habit of deficit spending and even then I'd suggest the additional 9K vs your other lines isn't much.

Personally I'd view this as a favorable outcome but I'm already reducing CL's on better tradelines than a Wally card, which is kind of junk to begin with other than their CLI policy and their freebie FICO score which can be gotten on a number of better tradelines now anyway.

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Strictly for rebuilders "bragging rights!" I personally also have a pretty useless retail card that I keep open only for the large cl. I opened at the beginning of my rebuild and its still hanging around.

However, Revelate, after your past post of having a $1,500 limit on category cards being sufficiently adequate, made me rethink my strategy.  I'm closing my useless retail card with a large cl probably mid summer. 

[Random_idiot]

My wally is only open due to age. once my amex builds up, I won't care what happens to it.. no matter how many CLD I get.

However, I will make that random swipe until my AMeX gets there.

[grillandwinemaster]

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@Random_idiot wrote:
My wally is only open due to age. once my amex builds up, I won't care what happens to it.. no matter how many CLD I get.

However, I will make that random swipe until my AMeX gets there.

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Your Amex will never catch your Wally! 😝