Decrease In CL - Accounts Closed - Synchrony & Comenity

[DeadlyPersona]

The OP is a female.....

And actually I asked the question in my original post:  Is this because I requested CLI's and was approved but barely used the cards?  The reason I asked is because I couldn't see any other reason for them to do what they did.

In my search through this forum to find an answer to my question, I've read in several posts where others have experienced similar activity.  Some with the same banks I've mentioned and others with different creditors.  So, for some to say it doesn't happen, just because they haven't experienced it I feel is more of a judgement call then facts.

I do appreciate receiving feedback/comments from everyone and I will try my best to get to the bottom of this in the morning and I will update this post as soon as I hear something.....I pray it's nothing fradulent.  

Night Night

[Anonymous]

Gosh, OP, I'm so sorry this happened to you! I really hope you get this resolved and you get your cards/limits reinstated!

[Anonymous]

Good luck and please let us know what you find. 

[kdm31091]

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@DeadlyPersona wrote:

And actually I asked the question in my original post:  Is this because I requested CLI's and was approved but barely used the cards?

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While I don't work for either lender and cannot say for sure, I do think the trend of people requesting huge limits to then use as a buffer and buy a pack of gum once a month (not saying you did - just an example) does sometimes ring alarms for banks. They assume if you're asking for a huge limit, you're going to spend on the card. So the "util buffer" can be useful, but it can also bite you in the behind. Everything comes with a price. Banks aren't going to tie up 25k in limits for people who aren't using the cards, which is sometimes why CLDs happen.

I'm not saying that's what happened to you, just that constant CLI requests can backfire if you don't really use the card(s). Best of luck getting the situation resolved.

[Anonymous]

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@kdm31091 wrote:

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@DeadlyPersona wrote:

And actually I asked the question in my original post:  Is this because I requested CLI's and was approved but barely used the cards?

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While I don't work for either lender and cannot say for sure, I do think the trend of people requesting huge limits to then use as a buffer and buy a pack of gum once a month (not saying you did - just an example) does sometimes ring alarms for banks. They assume if you're asking for a huge limit, you're going to spend on the card. So the "util buffer" can be useful, but it can also bite you in the behind. Everything comes with a price. Banks aren't going to tie up 25k in limits for people who aren't using the cards, which is sometimes why CLDs happen.

I'm not saying that's what happened to you, just that constant CLI requests can backfire if you don't really use the card(s). Best of luck getting the situation resolved.

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Agree. Banks are going to periodically review accounts, there are many reasons for decreasing credit lines & not using the TL is one. 

[SunriseEarth]

I would request your CRs from the big three CRAs.   Since two creditors have taken AA very likely based on info on the CRs, you should be entitled to a free copy of your reports.   Go over them to make sure everything is reporting correctly.   Good luck!

[Anonymous]

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@SunriseEarth wrote:

I would request your CRs from the big three CRAs.   Since two creditors have taken AA very likely based on info on the CRs, you should be entitled to a free copy of your reports.   Go over them to make sure everything is reporting correctly.   Good luck!

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Excellent plan!

[Anonymous]

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@DeadlyPersona wrote:

Ok, I recently noticed that my CL for all of my Synchrony cards have been drastically reduced and a few have been closed.  My comenity card CLs is not reduced, accounts are not closed but "inactive", if that makes since.

Is this because I requested CLI's and was approved but barely used the cards?  For instance my Old Navy was at $3,500 and at one point my balance was about $200 and I didn't use the card, I just worked on paying the balance off.  When I did so, I noticed my limit went from $3,500 to $300.  Similar stories with Lowe's, Wal-Mart, Sam's, Belk, etc.  J.Crew, VS and Buckle are my comenity cards.  I receive so many coupons with VS that I rarely have to pay anything but tax when I shop there.

I liked the way the high CLs looked on my credit profile and I wanted it to stay that way so I tried to make sure I didn't spend more then what I could afford to pay.  Just because I had a $12,000 CL with Lowe's the highest my balance has been with them was $458.00.  

So, with the closed accounts do I shred the cards?  Do I wait 3-6 months and apply again?  

P.S.  Target has still been great to me.....steady increases.

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Please don't think me rude, (and I know nobody's asking me to), I had a knee-jerk reaction to your statement here. I'f I had to guess, I'd say Synchrony did, too; and they're wondering if you're stuggling to pay down $200, perhaps they need to cover their bets and reduce CLs and/or closed cards. Good luck to you when you get hold of them today. And very sorry that happened to you. I know it must be agonizing.

[takeshi74]

Unlikely though it does happen with some creditors.  CLD's and balance chasing are usually due to risk that goes beyond a given creditor's tolerances.  You need to carefully review your reports.  It's not just derogs and revolving utilization but recent activity and your profile that matter as well.  If you've had a lot of recent credit seeking activity that creditors think is beyond what your profile supports that can lead to AA as well.

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@DeadlyPersona wrote:

So, for some to say it doesn't happen, just because they haven't experienced it I feel is more of a judgement call then facts.

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Always consider your sources. There are a lot of people out there (not just on myFICO) that don't understand the difference between "never happened to me" and "never happens" (or "I have not experienced" and "does not exist", etc, etc).

[Anonymous]

I had the same reaction as LadyAng. Needing time to pay off a $200 balance on a card with a high APR likely suggests to Synchrony that a $12k CL on Lowes puts them at too much risk.