First credit line decrease (Barclay)

[RickNATL]

Sorry to hear this; let's just hope these changes are short-term.

[mowglidude]

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@NRB525 wrote:

My experience with multiple balance chasing events is they leave a buffer of available credit over the balance, but yeah, every few months ratchet it down again. None of those were with Barclay, but I would expect them to be the same. It avoids problems with interest charges putting you over limit.  

It continues until it stops, but you don't know when it stopped until you go several months with no more CLD.  

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What lenders are nortorious for balance chasing? What is the main reason they balance chace?

[HeavenOhio]

@mowglidude, Barclays, Synchrony, Comenity, and Chase are all known for balance chasing. They do it when people carry balances for too long while making payments that are deemed too small. They want to see a substantial dent made in one's balance,  even if it's a 0% interest situation. Paying only the minimum is something that should only be done very occasionally.

AMEX does a variation of balance chasing. They tend to decrease a credit limit once, then they'll probably leave the customer alone for a while. If the customer calls in, they'll likely offer to restore the limit if he or she pays a designated amount by a certain date.

[mowglidude]

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@HeavenOhio wrote:

@mowglidude, Barclays, Synchrony, Comenity, and Chase are all known for balance chasing. They do it when people carry balances for too long while making payments that are deemed too small. They want to see a substantial dent made in one's balance,  even if it's a 0% interest situation. Paying only the minimum is something that should only be done very occasionally.

AMEX does a variation of balance chasing. They tend to decrease a credit limit once, then they'll probably leave the customer alone for a while. If the customer calls in, they'll likely offer to restore the limit if he or she pays a designated amount by a certain date.

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I just recently paid down three Chase cards in the last week from individual UT's of 89% - 0%, 77% - 1% and 72%, to 24%. I am bracing for a large CLD on all three accounts. I have not seen any letters online yet, but still very early.

[Anonymous]

Sorry for your decrease. Hopefully, it's the only one.

[Irv02]

Sorry to read about your decrease.  Hang in there!!!

[masscredit]

I paid a little more than the minimum a few weeks ago. That was just after the statement closed and I saw the CLD. I just paid another $300. I'll see what happens after the next statement closes. I had some auto-pays set up on there. I moved them to another card so this one doesn't get any use for awhile. 

[OmarGB9]

Sorry for the CLD and your tough situation. Hang in there! Hopefully this will just be temporary.