Discover CLD

[atst2000]

So I just got a message from discover in my email about an important note. I check my account and just realized my credit line has been slashed from $12,600 to a measly $500. Check the note and says due to inquiries (which I haven't applied for anything in months). I bought two cars back in January. Also because of an unsecured loan?  I have a penfed personal loan that I've paid on religiously since I got it last July. 

I use the card every month for gas and pay it off. They even gave me 0% interest for 14 months a month ago. 

I've never missed a payment and have a score of 713 TU. Not sure if this is a sign of things to come but wanted to give a heads up. 

[randomguy1]

Wow that's significant. I would give them a call. 

[atst2000]

I did. Of course they sent it right when they closed and won't open until Monday. There 24/7 wouldn't help. 

[simplynoir]

Any recent negatives from other banks on your reports that could perhaps help explain this large CLD?

[gingerflower]

@atst2000  I would definitely give Discover a call!! Dang that is ridiculous..

[NichelleN]

I was carrying some high balances while waiting for my brother's probate to close. My overall utilization was high, including on Discover. As soon as I began to pay them down Discover balance chased me. My account had no negatives or late payments. So, I called them to close the account. After explaining my reasons they immediately restored the credit line. This was just a couple of months ago. Hopefully they do the same for you.

[atst2000]

Thank you for sharing that. Hopefully I have the same luck with them on Monday. 

[M_Smart007]

Sorry on your AA OP and Good Luck on Monday!

[Anonymous]

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@atst2000 wrote:

So I just got a message from discover in my email about an important note. I check my account and just realized my credit line has been slashed from $12,600 to a measly $500. Check the note and says due to inquiries (which I haven't applied for anything in months). I bought two cars back in January. Also because of an unsecured loan?  I have a penfed personal loan that I've paid on religiously since I got it last July. 

I use the card every month for gas and pay it off. They even gave me 0% interest for 14 months a month ago. 

I've never missed a payment and have a score of 713 TU. Not sure if this is a sign of things to come but wanted to give a heads up. 

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Tis the season for Adverse Action....

Good luck on Monday! 

[bourgogne]

sorry for your loss.  what were your 3 fico 8 scores before the cars and loan and what are there right now?  what is your DTI?  why did you list just your TU?